Just under a third of that amount – 30.3% – will be met via levies on investment, mortgage and general insurance intermediaries.
Most of the £432.1m will go towards meeting the new regulator’s £261.3m staff costs, it said.
The FCA plans to spend a total of £445.7m on ongoing regulatory activity in 2013/14, which includes staff costs and other fees, with £2.6m also required to fund regulatory reform implementation and £3.3m for recovery of scope for change activities.
However, offsetting these is an estimated £19.5m reduction as a result of underspends in 2012/13, principally reflecting the unused CEO contingency of £15m.
This leaves the FCA’s total annual funding requirement for 2013/14 at £432.1m.
The FCA is one of two organisations – alongside the Prudential Regulation Authority – set to replace the Financial Services Authority (FSA) next month.
