Next year the City regulator will be split into a business conduct regulator the Financial Conduct Authority and a prudential regulator the Prudential Regulatory Authority.
The fee costs involved in running two regulators are still however unknown at this point.
An FSA spokeswoman said: “As much as we both work to manage costs effectively, two regulators probably will cost something more. That’s just a fact I’m afraid.
“We’ve certainly made it clear that we will do everything we can to keep costs down but there are obviously costs associated with infrastructure and buildings et cetera which have to be met.”
The FSA’s latest Annual Funding Review revealed that it cost £578.4m to run the regulator through 2012/13.
The AFR included costs to modernise the regulator’s IT infrastructure to ensure it was a suitable platform before the transition to the FCA.
Ahead of the split into the regulator’s twin peak model, the FSA has created two new divisions that will form the basis of the two new authorities. One division is the conduct business unit and the other is the prudential business unit.
For the time being, the FSA will continue to work as an integrated regulator with the two business units developing their own supervisory models and increasingly developing their approaches to how they will supervise in the future.
However it is understood that both business units are already actively taking on regulatory matters.
An FSA spokeswoman said: “Increasingly the two units will look at regulatory matters separately with the CBU obviously looking at issues relevant to conduct and equally the PBU will be looking at matters relevant to prudential.”
