Investment - Articles - PIMFA welcomes reduction in proposed FCA fees


PIMFA welcomes the policy announcement by the Financial Conduct Authority (FCA), which proposes much lower annual fees for Principal firms than had previously been proposed, collectively saving the industry £2.8m.

 Simon Harrington, senior policy adviser at PIMFA, comments: “We welcome the FCA's decision to introduce a much lower fee for Principals to the one that it proposed in its initial consultation and which PIMFA strongly disagreed with.

 “But our concerns around the provenance of the flat fee have not been assuaged. It is still unclear what the FCA hopes to achieve through their undefined market study, and the largest firms with superior controls will still be penalised.

 “However, the FCA have clearly listened to our concerns and we look forward to working with them closely on ensuring that they can gain comfort from the Appointed Representative model, which works well for the vast majority of firms and clients
  

Back to Index


Similar News to this Story

Pessimism returns after Trumps speech on Iran
FTSE 100 opens lower following falls for indices in Asia. Trump’s prime-time speech dashed hopes for a faster resolution of the Iran conflict. Energy
Mega deals reach record high and propel surge in deal value
Global M&A shrugs off high volatility and geopolitical noise, as the value of completed deals soars to five-year high of $438 billion – an increase of
Trump talk pushes oil down but markets remain unsettled
Reports that President Trump is inclined to end the war, even without controlling the Strait of Hormuz, have pushed down oil prices. Markets remain sk

Site Search

Exact   Any  

Latest Actuarial Jobs

Actuarial Login

Email
Password
 Jobseeker    Client
Reminder Logon

APA Sponsors

Actuarial Jobs & News Feeds

Jobs RSS News RSS

WikiActuary

Be the first to contribute to our definitive actuarial reference forum. Built by actuaries for actuaries.