FINANCIAL CONDUCT AUTHORITY BUDGET

Early day motion 505, tabled 13 October 2015 by Alan Meale (Labour). Signed by 15 members.

That this House notes that the recent changes to pension legislation have meant consumer access to clear and affordable financial advice has become increasingly more important; further notes recent research by the Association of Professional Financial Advisers which demonstrates that on average an adviser firm spends 12 per cent of its revenue on regulation, with recent above inflation Financial Conduct Authority (FCA) fee increases likely to result in higher costs and fees for consumers; and calls on the Government to take steps towards demands for a real-term freeze in FCA regulatory fees for a minimum of two years to ensure investors are better able to acquire access to professional financial advice.

Signatures by party: Labour 7, Social Democratic and Labour Party 3, Independent 2, Conservative 1, DUP 1, Scottish National Party 1.