New FCA authorisation fees come into effect on 24 January

Advice firms to pay £2,500

clock • 2 min read
New FCA authorisation fees come into effect on 24 January

The Financial Conduct Authority (FCA) has updated its authorisation fees in an attempt to simplify the process and shift the weight of application costs onto applicants.

From 24 January 2022, the new authorisation fees will feature 10 categories ranging from £250 to £200,000, eliminating 73 of the original 83 pricing points that previously comprised the structure. Of these, 49 of the charges have increased as part of the new system, 23 remained the same and 11 have been reduced, as the regulator seeks to raise the contribution of applicants towards the cost of processing their applications from roughly one-third to two-thirds. Financial advisers will fall into...

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