BVRLA responds to FCA fee increase proposals

The BVRLA has responded to the Financial Conduct Authority’s recent consultation which proposed a fee increase for the year 2021/22, flagging concerns about timing and poor levels of service.

In its response, the BVRLA raised concerns around the timing of the proposed fee increase given the impact of Covid-19, and also highlighted that BVRLA members had reported poor levels of service from the FCA and the Financial Ombudsman Service (FOS), which makes any fee increase difficult to justify.  

The BVRLA also challenged the regulator’s proposed fee for Appointed Representatives. 

The response is available on the Consultations page of the BVRLA website, along with details of other open consultations and consultation responses.