FEES 11.1 1Application, purpose and background

This chapter sets out rules governing the amounts payable by designated guidance providers to the FCA to fund the FCA’s pensions’ guidance costs (see FEES 11.1.4G).

The FCA’s pensions guidance costs are defined in section 333Q(4) (Funding of FCA’s pensions guidance costs) of the Act as the expenses incurred, or expected to be incurred, by the FCA in connection with carrying out the functions conferred on it in Part 20A of the Act (other than the functions specified in 333R of the Act).

1. (1)

   Section 333Q(1) of the Act requires the FCA to make rules requiring designated guidance providers, or any specified class of designated guidance provider to pay to the FCA specified amounts or amounts calculated in a specified way.

2. (2)

   Section 333Q(3) of the Act sets out that such amounts may include a component to cover the expenses of the FCA in collecting the payments and to enable the FCA to maintain an adequate reserve.