FCA publishes its proposal for annual fees and levies rates for 2025/2026

Today the FCA published consultation paper CP 25/7, setting out its proposals for the fees and levies to be imposed on the financial services industry to fund the FCA and FOS for the coming financial year.

Key points of interest are:

• This year’s Annual Funding Requirement is £783.5m, an increase 2.5% from last year – this is to cover ongoing regulatory activities and exceptional projects;
• The FOS budget for this year is £285.1m, up from £264.9m last year;
• The FCA will start to recover costs for two exceptional projects, namely the ESG ratings providers work, and the motor finance complaints pieces;
• The FEES manual is being amended to bring it in line with the MLRs and to allow FCA to recover costs arising from the appointment of skilled persons to firms supervised under the MLRs.