In today’s rates proposals, the FCA outlined an annual funding requirement for the year of £526.9m, an 1.5% increase of £7.6m over 2016/17.
It said this increase will cover the costs of changes to its regulatory scope; Payment Services Directive (PSD) 2 implementation costs; and reducing its pension deficit. It is also budgeting £2.5m for EU withdrawal.
The FCA said it must raise £77.1m from adviser fees next year, compared to a £73.7m spend in 2016/17.
The FCA also plans to raise £12.3m from fund managers and depositaries, and operators of collective investment schemes, representing a 4.3% increase.
The total budget for the Money Advice Service is £75m, which is the same as last year.
However, as a result of consumer credit contributions collected from last year, as well as the anticipated consumer credit contributions, £64.1m will be levied as opposed to £75m.
Two separate levies are being proposed to raise £23.1m for delivering money advice, and £41m for coordinating and providing debt advice.