FEES 3.1 Introduction

This chapter does not apply to:6

1. (1)

   an EEA firm that wishes to exercise an EEA right; or6

2. (2)

   an EEA authorised payment institution; or6

3. (3)

   an EEA authorised electronic money institution.6

The purpose of this chapter is to set out the appropriate regulator fee paying requirements on the persons set out in FEES 1.1.2R (1).

Most of the detail of what fees are payable by the persons referred to in FEES 3.1.3 G is set out in FEES 3 Annex 1 - FEES 3 Annex 10 AR.20

1. (1)

   The rates set for authorisation fees represent an appropriate proportion of the costs of the appropriate regulator17 in processing the application or exercise of Treaty rights.

   17
2. (2)

   [deleted]17

   17
3. (3)

   [deleted]17

   17

17The fees for funds8 reflect the estimated costs to the FCA of assessing applications and notifications. The level of fees payable in respect of an application or a notification will vary depending upon the provision of the Act under which it is made. This fee is adjusted when the scheme concerned is an umbrella.

17Application fees for recognised bodies are calculated from a tariff structure intended to reflect the estimated cost of processing an application of that type and complexity.

Applications for Part 4A permission (and exercises of Treaty rights) other than in respect of credit-related regulated activities7 are categorised by the appropriate regulator for the purpose of fee raising as straightforward, moderately complex and complex7 as identified in FEES 3 Annex 1. This differentiation is based on the permitted activities sought and does not reflect the appropriate regulator's risk assessment of the applicant (or Treaty firm).

4Application fees for authorisation or registration under the Payment Services Regulations are set out in FEES 3 Annex 8R . The fee depends on the type of payment services a firm wishes to provide and whether it will be a small payment institution or an authorised payment institution. The fee may also depend on the number of agents it has.

6Application fees for authorisation or registration under the Electronic Money Regulations are set out in FEES 3 Annex 10 R. The fee depends on whether the firm is an authorised electronic money institution or a small electronic money institution.

20Application fees for registration under article 8(1) of the MCD Order are set out in FEES 3 Annex 10AR. The fee depends on whether the firm holds an existing Part 4A permission or an interim permission or has previously registered as a CBTL firm and that registration has been revoked under article 13 of the MCD Order.

A potential applicant for Part 4A permission17 (or Treaty firm) has the opportunity to discuss its proposed application (or exercise of Treaty rights) with the appropriate regulator17 before submitting it formally.2 If an applicant for Part 4A permission17 (or Treaty firm) does so, the appropriate regulator17 will be able to use that dialogue to make an initial assessment of the fee categorisation and therefore indicate the authorisation fee that should be paid.

[Deleted]17

Application fees for applications for and variations of Part 4A permission in respect of credit-related regulated activities are also set out in FEES 3 Annex 1F. Applications for Part 4A permission in respect of credit-related regulated activities are categorised by the appropriate regulator for the purposes of fee raising as straightforward, moderately complex and complex as identified in FEES 3 Annex 1, unless the application is for a limited permission.7