News Details
06 Feb, 2008
FSA Fees
The FSA has published a Consultation Paper about their fees for the forthcoming year.
increase in minimum fee of £200 from £1,650 to £1,850; and lower charge bands increase by 3.6% with the higher bands remaining constant;
A.18 – Home finance providers, advisers and arrangers: [mortgage brokers]
increase in minimum fee of £95 from £650 to £745; and an increase in all charge bands of 13% which also reflects the increasing work we are doing in the mortgage markets;
• A.19 – General insurance intermediaries:
increase in the minimum fee of £40 from £410 to £450; and an increase in lower charge bands of 11.1% with the higher charge bands increasing by 6.0%.
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A.13 [IFA Investment business] |
Minimum fee (£) 1,850 No. of persons Fee (£/person) 0 - 1 0 2 - 4 1,002.00 5 - 10 978.00 11 - 25 939.00 26 - 500 835.00 501 - 4,000 767.00 >4,000 724.00 |
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A.18 [Mortgage brokers] |
Minimum fee (£) 745 £ thousands of Annual Fee (£/£ thousand or part £ thousand of AI) Income (AI) 0 – 100 0 >100 - 1,000 5.18 >1,000 - 5,000 4.33 >5,000 - 10,000 3.46 >10,000 - 20,000 2.60 >20,000 2.18 |
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A.19 [General Insurance] |
Minimum fee (£) 450 £ thousands of Annual Income (AI) Fee (£/£ thousand or part £ thousand of AI) 0 - 100 0 >100 - 1,000 4.31 >1,000 - 5,000 3.77 >5,000 - 15,000 2.60 >15,000 - 100,000 1.04 >100,000 0.42 |
Financial Ombudsman Service
FOS case fees are also planned to increase from £400 to £450 but with each firm being entitled to three instead of two “free” case referrals per year.
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