CRED 15 Annex 3 Financial penalties

G01/12/2004

1Number of business days late	Annual fees payable by firm Note
	£1 to £150	£151 to £500	£501 to £1,000	£1,001 to less than £10,000	£10,000 to less than £20,000	£20,000 to less than £50,000	£50,000 to less than £100,000	£100,000 or greater
22-28	40	100	200	400	800	2000	4000	6000
15-21	30	75	150	300	600	1500	3000	4500
8-14	20	50	100	200	400	1000	2000	3000
1-7	10	25	50	100	200	500	1000	1500
Note:
1. For this purpose, the annual fee payable by the credit union is the annual fee for the most recent financial year for which the FSA has fully invoiced the credit union before the date on which the relevant report first became late.
2. Where the credit union first becomes authorised after 2 July 2002, and at the time the report first becomes late the credit union has not previously been fully invoiced by the FSA for an annual fee, the annual fee of the credit union will be treated as that for £1 to £150.

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