THE FCA have introduced a new charge of £250 for standalone long Form A applications for Senior Manager Functions.

Essentially almost anything that requires a Form A, now comes with a £250 price tag.

This is likely to be a significant cost for medium sized IFAs, although it does not apply on variations of permissions.  The rule reference is here, FEES 3.2, 3 Annex 15R and the fee is active from today.

It is no use complaining, we might as well be farmers bemonaning the weather.  

To quote Robert De Niro’s most famous line in several of his films: “It is what it is.”

Our job is to recognise it and pass it on fairly and openly to our customers.