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Consultation on Regulatory Fees for 2013/14 18 December 2012

The Financial Supervision Commission (“the Commission”) has today issued a paper publishing the intended regulatory fees for licenceholders and collective investment schemes in 2013/14.

Since 2003, the increases have mainly reflected changes in the the retail price index. However, whilst being conscious that the economic climate has not improved and that increases in fees are never popular, the Commission believes that it is appropriate that relevant fees are increased for 2013/14 to ensure that the Island is seen as a reputable place to do business while moving towards meeting the cost of supervision.

The increase in fees reflect the facts that –

  • the Island’s fees are considerably below those of its competitors;

  • new international standards and legislation are using significant levels of regulatory resource; and

  • specific sectors are incurring significantly high levels of regulatory oversight.

Copies of the consultation document can be found here on the Commission’s website.

The closing date for comments is 15 January 2013. Please send your views in writing and preferably by e-mail to:

Mrs Shirley E Corlett
Deputy Director – Policy and Legal
Policy and Legal Division
Tel: (01624) 689323

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