FCA funding to increase 11% as regulator sets out work on T+1 settlement

Focus on greater access to UK wholesale market

The Financial Conduct Authority has revealed its annual funding requirement is likely to increase by 10.7% to £755m for the 2024-25 financial year.

In its business plan for the year ahead published today (19 March), the regulator said the increase is subject to consultation from April and will be formally set in its policy statement in June. The total sum, however, will be net of rebates from the financial penalties collected, which the FCA has forecast at around £35.1m. FCA to allow professional access to crypto ETNs but retail ban remains in place Similarly, the watchdog's budget for its ongoing regulatory activities is also set to rise by 9.7% from last year to £729.1m, due to the new charges reflecting the FCA's responsibi...