( April 8, 2025, 10:12 GMT | Official Statement) -- MLex Summary: The UK Financial Conduct Authority has estimated that its Annual Funding Requirement will necessitate a 3.8 percent increase in its budget, to a total of 783.5 million pounds (around $1 billion). The costs of its Ongoing Regulatory Activities will account for 747.3 million pounds of the total AFR, with the ORA component necessitating a 2.5 percent increase. The decision will be open to consultation until June, and the costs will be spread among regulated financial service providers around the country. In parallel, the FCA released its annual program outlining upcoming work and costs on areas such as artificial intelligence, financial crime, open banking and capital markets.Consultation on fees and annual work programme are attached. ...
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