The Financial Services Authority (FSA) has announced its proposed Annual Funding Requirement (AFR) for 2012/13.
Overall the AFR for 2012/13 is £578.4 million, up from £500.5 million in 2011/12, a gross increase of 15.6% in overall funding. The increase in fees will be borne mainly by larger firms, reflecting the resources applied to intensive supervision of high impact firms, the regulator said.
Medium sized firms will see a “proportionate”” increase reflecting the type of business they conduct