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Advisers to see 2.5% rise in triple bill

The FSA says fee rates for 2008/09 will remain at lar-gely the same level as fees consulted on in February, with three fee blocks seeing a reduction.

Fees have dropped for fund managers, operators, trustees and depositories of collective investment schemes and firms dealing as principal.

In February’s consultation paper, the FSA increased fees for small adviser firms by up to 12 per cent.

The minimum levy for a category A13 adviser employing one approved person has increased to £1,850 from £1,650. A category A13 firm with 26 APs will see its levy increase by 4 per cent to around £25,600.

However, small firms will see a fall in Financial Services Compensation Scheme levies and no increase in Financial Ombudsman Service fees.

The FSA says the combined effect of the FSA, FSCS and FOS levies will be an increase of around 2.5 per cent.

FSA finance director Martin Walton says: “We are committed to making it easier for firms to do business with us and firms will be able to use our online fee calculator to get an indication of the fees they will pay.”

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