Firms could also pay one-off implementation costs of up to £323m

Incoming FSA compliance rules will cost City financial firms up to £1.4bn a year, according to Hargreaves Lansdown.

The charges will come from FSA regulations unveiled over the last year, according to City AM.

Firms could also pay out standalone implementation costs of £253m to £323m according to FSA impact assessments.

The FSA has launched 18 consultations on changes to areas such as capital requirements, financial crime, collecting data and handling consumer complaints.

 

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