December 2020
The FCA has set out proposals to ‘revalorise’ and simplify all FCA authorisation application fees and introduce some new transaction fees as part of a Consultation Paper on regulatory fees. The current application fee for insurance intermediaries in fee band A19, at £1,500, has not changed since 2004. To account for inflation this would increase to £2,320, a 67% increase. The FCA also proposes to condense them into a simple table of ten pricing categories.