• The proposals focus on changes to fees across a range of financial services regulations, including those related to private funds, mutual funds, banks and trust companies, insurance, securities investment business, and more.
• The adjustments aim to support regulatory activities that have expanded due to global developments and to promote growth in key sectors.
• Many of the proposed fee increases reflect inflationary adjustments or are new fees to cover services that currently do not have associated charges.

The Ministry's review highlighted that some fees have not been updated in over a decade, necessitating adjustments to align with the growing demands of regulatory oversight.

Feedback from industry stakeholders is encouraged and must be submitted by 3 September 2024, to DFSLegislation@gov.ky.

The consultation paper can be accessed here and the Appendix 1 – Feedback Template here.