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FSA to look at fees policy in light of Aifa doubts

The FSA says it will consider the Association of Independent Financial Advisers’ calls for an overhaul of its cost allocation for intermediary fees and will report its findings in November.

In January, Aifa lobbied for the FSA to review the total cost of regulation and the proportion paid by intermediaries, insisting the FSA’s fee structure does not accurately reflect the risk posed by IFAs.

Aifa said that the FSA should base 2011/12 fees for intermediaries on the proportion of revenue they receive relative to product providers.

In its policy statement on fees and levies for 2010/11, published on Friday, the FSA says: “We will look at their proposition and the data they supplied in their response, seek to reconcile them and consider whether there is a case for altering our methodology for 2011/12.”

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