Articles - AIFA comments on FSA fees announcement

 he Association of Independent Financial Advisers (AIFA) responds to the announcement from the Financial Services Authority (FSA) on fee-raising arrangements and regulatory fees and levies.

 Andrew Strange, Director of Policy, AIFA, said:

 "The FSA's Annual Funding Requirement has now passed half a billion pounds for the first time. The impact of this on firms - and on the clients they serve - is clear to see. Whilst IFAs not holding client money will see a welcome reduction, the wider context of a regulator requiring greater accountability is only further underlined by the overall escalating budget.  

 "The proportion of costs allocated to the intermediary sector remains out of line with the threat posed to the regulatory system. We will continue to push the regulator to better apportion its costs to the industry and to make better use of risk indicators."