Breaking down our FCA fees
Our annual FCA fee request is simply an invoice with no breakdown of how the fee is allocated based on marketing, admin, insurance and so on.
Having just received our latest fee request, it would seem fair if firms could ask the FCA how their fee is spent. This would perhaps unearth further details of spending which is inappropriate and unjustified.
It would be interesting to know the FCA’s thoughts on this and whether, as customers of the FCA, we have the right to request a breakdown of our fees as other professionals such as lawyers and accountants have to do with their customers.