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<p>The Financial Conduct Authority (FCA) are responsible for setting the regulatory
fees for industry and recently consulted on their fees for 2020-21. A response to
the consultation can be found on the FCA’s website. The FCA operates independently
within the statutory framework agreed by Parliament. The Government therefore, has
no role in the FCA’s budgeting or setting of the levy.</p><p> </p><p>The Treasury
works closely with the FCA to ensure that the market for financial advice works well.
We are aware of concerns about the effect of the increased regulatory fees on financial
advisers and we are working with the FCA who are monitoring the impact.</p>
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