Industry response

Our response to FCA's consultation on regulatory fees and levies, CP 17/ 38

Policy proposals for 2018/ 19

Our main concern lies with the proposed amendments to the methodology for collecting the Money Advice Service debt advice levy.  The focus of our response is therefore on this area.  We continue to question why only certain financial firms are burdened with these not inconsiderable costs.  It would be fairer and more equitable to apportion costs for debt advice across other sectors in addition to financial services on the basis of “polluter pays”. The burden of financing debt advice should be more equitably shared by those firms and authorities that will benefit from the provision of free debt advice. 

Click here to read the full response.