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Fees set to fall by 1%

FSA fees are to fall by around 1 per cent this year.

The regulator says its annual funding requirement in 2004/05 is projected to be £213.3m, marginally lower than the £214m for 2003/04. It is entirely funded by fees from the firms it regulates and it expects that fees will reduce by 1 per cent.

It points out that the fees charged relate to the type of business carried out by a firm so there will be considerable differences across the industry.

In 2003/04 the FSA collected £236.4m in fees directly from regulated organisations, with £218m from general fees, £13.5m from pension review fees and £4.9m from mortgage and general insurance fees.

The regulator&#39s annual report shows the FSA levied £12.4m in fines in 2003/04.


Bank holds interest rates at 4.5 per cent

The Bank of England&#39s Monetary Policy Committee today voted to maintain the base rate at 4.5 per cent. The minutes of the meeting will be published at 9.30am on Wednesday 21 July.

Beware of the dog

The spate of mergers and acquisitions in the IFA sector has slowed in recent months. This is not surprising as there has been a general lull in completed deals and most of the big players made their strategic moves for the post-depolarisation world some time ago. However, with depolarisation around the corner and new business […]

Close Property Investment – Fifth Special Opportunities Fund

Type: Exempt unit trust Aim: Growth by investing in UK commercial property developments Minimum investment: Lump sum £25,000 Investment split: 100% in UK commercial property developments Closing date: July 31, 2004 Charges: Initial implicit, annual 1% Commission: Initial up to 7.5% Tel: 020 7426 6216

UBS seizes on neglected opportunities

UBS Global Asset Management&#39s developed Asia equity fund has been created through a conversion of an exempt unit trust into an Oeic fund for retail investors. The original fund was established in 1990 for pension funds and charity investors but has been revamped to fill a gap in the UBS retail fund range. The new […]


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