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FSA costs study gathers pace

The FSA has appointed Deloitte to undertake a study to measure the costs of financial regulation.

The regulator says it hopes to establish the full cost to financial firms of compliance with regulation under the Financial Services and Markets Act. It will then break down the costs between those incurred solely as a result of the Act and those that firms would still incur if this regulation were not in place.

The project will initially focus on measuring the total and incremental compliance costs of regulation for small and large firms in three regulated sectors: investment banking-corporate finance advice, investment and pension advice to retail customers and institutional fund management.

The FSA says once the methodology is established it may be extended to other sectors in future projects.

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