Date: Friday 08 July 2022
The FSA are proposing to introduce a 100% industry funded model, moving away from the current funding model (56% industry fees + 44% Government funding). Whilst the impact of the new funding model will vary considerably across the many industries involved, it is clear that the shift of financial funding away from Government on to industry will result in increased costs for all those affected.
Sustaining member, MAC Group, kindly provided some research to assist fellow members in understanding the impact the new funding model will have. The work MAC Group provided does not cover all categories & classes regulated by the FSA, rather it provides a snapshot for members to consider, highlighting the increases which may be experienced in certain licence classes, increases which could be in excess of 100%.
Links to the attached: