FCA have introduced a new charge of Â£250 for standalone long Form A
applications for Senior Manager Functions.
Essentially almost anything that requires a Form A, now comes with a Â£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 Niroâ€™s most famous line in several of his films: â€œIt is what it is.â€
Our job is to recognise it and pass it on fairly and openly to our customers.