PRA consults on fees

PRA is consulting on its fees and levies for 2024/25. Key elements of the proposals are:

• funding an overall increase in the budgeted cost for ongoing regulatory activities of 7%;
• dealing with an increase of 11% in the total funding requirement by taking measures to limit the increase to 7% only which will include retaining the surplus on the AFR; and
• changes to the internal model application fees, the model maintenance fee and the fee for insurance business transfers; and

Consultation closes on 10 May, and PRA will implement the changes from 3 July.