PIMFA response to FCA Consultation Paper CP24/6: Regulatory fees and levies: policy proposals for 2024/25

PIMFA Consultation Response to FCA CP24/6: Regulatory fees and levies: policy proposals for 2024/25. We note this is a significant increase of 14.4% on the previous year and increases the regulatory burden on firms considerably. Regulatory costs are a major concern to firms, and as a point of principle (as stated in previous responses to rate proposals) we are of the view that those who cause the need for regulation should bear the costs of administering it and it should not be subsidised by other firms and ultimately, therefore, consumers of unrelated products and services