BROKERS will face higher Financial Conduct Authority (FCA) fees from this month when invoices will start appearing from the regulatory body.
In particular, the consumer credit fees for regulated business goes up to a minimum of £1151, while business principals with Appointed Representatives (ARs) will have to pay a much higher figure of £250 for each AR on their books.
The changes come despite representations from the BVRLA on the original consultation, which appear to have fallen on deaf ears.
You can view the latest FCA fees and levies here.
Ralph Morton is the leading journalist in the leasing broker sector and editor of Broker News, the website which provides information and news for BVRLA-registered leasing brokers. He also writes extensively on the fleet and leasing market in both the UK and Europe.
