02/02/2012 - FCA And PRA Guess Who Gets The Bill?
FCA And PRA Guess Who Gets The Bill?.
According to the Bill, the Bank and the FSA will incur transitional costs in setting up the FCA, PRA and the Financial Policy Committee, with a lot of the cost expected to be paid by the financial services industry through fees and levies.
The Treasury has estimated the cost to the Bank and the FSA for creating the PRA will be £115m to £150m, while the cost of creating the FCA is expected to be in the region of £15m to £25m. Meanwhile, the burden on the UK financial services industry is likely to be between £50m to £100m.
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