The Financial Services Authority (FSA) has published the final FSA fee rates and Financial Ombudsman Services (FOS) levies for 2008/09.
The FSA has finalised fee rates for 2008/09 that, for most firms, are the same level as those consulted on in February 2008. However, in three fee-blocks actual fee rates will be lower than those proposed: fund managers (A7); operators, trustees and depositaries of collective investment schemes (A9); and firms dealing as principal (A10).
“We are pleased that firms’ fee rates are either the same as or lower than those proposed in the consultation. However, we recognise that our planned expenditure for 2008/09 will be higher than in the previous year this reflects the programme of activity set out in our Business Plan,” says Martin Walton, finance director, FSA.
“We are committed to making it easier for firms to do business with us, and firms will be able to use our on-line Fee Calculator to get an indication of the fees they will actually pay,” added Walton.
The FSA has also confirmed a number of policy changes that were proposed in its October 2007 consultation paper.