British regulator asks for 10% more funds
Britain's Financial Services Authority (FSA) said on Friday that it needed nearly 10% more in funding for the forthcoming financial year, with the hike in costs to be borne by bigger banks.
The extra £41m ($64m) in funds would go towards "improved supervisory activities", such as the expansion of its staff and refinements to its operational platform, it said, pointing to the 280 new staff hired for its supervisory enhancement programme last year.
The proposals, which were first published in a
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