The FSA is looking for an increase of 9.9% in overall funding to support its drive to continue to delivering intensive supervision and the substantial international regulatory reform agenda.
It claims however that it is introducing a fairer and more transparent fee structure, which will result in 60% of firms paying less.

The increased cost of intensive supervision will be levied on those firms whose size and impact require the most regulation from the FSA.

The annual funding requirement for 2010/11 is £454.7 million, up from £413.8 million in 2009/10.

Hector Sants, FSA chief executive, said: “The way the FSA regulates has changed radically