FCA regulated fees and levies: Rates proposals 2020/21 (CP20/6)

FCA consultation on periodic fees rates for the next financial year and any proposed changes to application fees or other fees. And on the Financial Ombudsman Service general levy, Money and Pensions Service, Devolved Authorities and illegal money-lending levies.

ACCA welcomes the opportunity to provide feedback on the proposed 2020/21 regulatory fees and levies to fund the FCA and other organisations.

We welcome the sharing of the FCA’s business plan, together with information on the deployment of its resources in 2020/21 and the challenges of the Covid-19 pandemic. The detailed explanation of the factors considered when determining changes to regulatory fees provides context and justification for the proposals. However, we remain concerned about the lack of transparency over the deployment of some resources, in particular the total costs of the Office for Professional Body Anti-Money Laundering Supervision (OPBAS), its activities, areas of focus and future work plan.

To read the response in full, please download the consultation response document.