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Fees and Levies - wanted: the option not in the paper

Numerous advisers have written to me about MBIE's consultation on the FMA fees and levies. In essence, they have spotted that the paper either calls for an increase based on the current approach, or an increase in the portion recovered from market participants. Succinctly, the view of most advisers, which I share, is that if the regulatory structure is all about building confidence in financial services and, if it is so good for consumers generally, then a much larger proportion should be paid for by government/consumers via normal taxation revenues. 

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