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FSA publishes annual report

The FSA has published its annual report, which reveals that fees for IFAs will decrease by around one per cent this year. The actual fees charged relate to the type of business carried out by a firm, so the FSA says that within this average figure there will be considerable differences across industry blocks.

The annual funding requirement for the FSA in 2004/05 is projected to be £213.3m, marginally lower on a like-for-like basis than the £214m for 2003/04.

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