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Newsletter Jul/Aug 2006: Reporting to FSA costs finance sector £600m yearly

Staff | February 22, 2007

LONDON – The administrative costs to financial firms and individuals of reporting to the Financial Services Authority (FSA), Britain’s regulator, are around £600 million ($1,140 million) a year. This represents about 0.5% of the industry’s total costs of some £120 billion, according to a recently published study commissioned by the FSA.

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