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FEES 3.1 Introduction

Application

FEES 3.1.1 R RP

1This chapter applies to every person6 set out in column 1 of the Table of application, notification and vetting fees in FEES 3.2.7 R6 and every person set out in the annexes to FEES 3 referred to in column 1 of the Table of application, notification and vetting fees in FEES 3.2.7R16.

6 6 18 9
FEES 3.1.2 G RP

[deleted]15

6 6

Purpose

FEES 3.1.3 G RP

The purpose of this chapter is to set out the 9FCA fee paying requirements on the persons set out in FEES 1.1.2R (1).

9 5 19
FEES 3.1.4 G RP

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 1AR – FEES 3 Annex 16R16.

6 6 20 10 20
FEES 3.1.5 G RP

[deleted]15

FEES 3.1.5A G RP

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.

8
FEES 3.1.5B G RP

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.

FEES 3.1.6 G RP

[deleted]16

15 7 9 9 7 7 9 9 15
FEES 3.1.6A G RP

Fees for applications and notifications16 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.

4
FEES 3.1.6B G RP

Fees for applications and notifications16 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.

6
FEES 3.1.6C G RP

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the firm holds an existing Part 4A permission16 or has previously registered as a CBTL firm and that registration has been revoked under article 13 of the MCD Order.

FEES 3.1.6D G RP
  1. (1)

    10Fees for designated credit reference agencies and designated finance platforms11 are set out at FEES 3 Annex 10B.

  2. (2)

    These fees are charged under regulation 21 of the Small and Medium Sized Business (Credit Information) Regulations11 and regulation 18 of the Small and Medium Sized Business (Finance Platforms) Regulations.11

FEES 3.1.6E G RP
  1. (1)

    12Application fees for authorisation under regulation 7 of the DRS Regulations, and for operators of trading venues seeking verification of their compliance with Title V of MiFID14 under regulation 8 of the DRS Regulations and for variation of an authorisation under regulation 12 of the DRS Regulations are set out in the table at FEES 3.2.7R.

  2. (2)

    The fee depends on the number of data reporting services for which the firm is making an application.

FEES 3.1.7 G RP

A potential applicant for Part 4A permission1715has the opportunity to discuss its proposed application 15with the 9FCA before submitting it formally.2 If an applicant for Part 4A permission1715does so, the 9FCA 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.

17 17 17 9 2 2 17 17 17 17 9
FEES 3.1.8 G

[Deleted]17

FEES 3.1.8A G RP

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 1AR and FEES 3 Annex 16R16.

9 9 7

9[Note: PRA-authorised persons may also pay regulatory transaction fees to the PRA set out in Chapter 4 of the Fees Part of the PRA Rulebook.]

FEES 3.2 Obligation to pay fees

General

FEES 3.2.1 R RP

A person referred to66 in column (1) of the table in FEES 3.2.7 R37 as the relevant fee payer for a particular activity must pay to the FCA (in its own capacity or, if the fee is payable to the PRA, in its capacity as collection agent for the PRA)78 a fee for each application or request for vetting, or request for support relating to compatibility of its systems with 37FCA systems,7 or admission approval made, or notification56, or other matter 9as is applicable to it, as set out or calculated in accordance with the provisions referred to in column (2) of the appropriate78 table:

78 78 78 78 37 78
  1. (1)

    in full and without deduction; and

  2. (2)

    on or before the date given in column (3) of that table or the relevant annexes66.

FEES 3.2.1A R RP

38A person must pay the fee in Categories A5 and A6 of FEES 3 Annex 12R for the first submission of a document to the FCA for approval or review in relation to a significant transaction or super transaction. As an exception to FEES 3.2.1R, after that fee is paid, Categories A1 to A4 of FEES 3 Annex 12R specify the fees a person must pay for any further documents submitted for approval or review in relation to the same transaction.

FEES 3.2.2 G RP

If an application for a Part 4A permission5256 falls within more than one category set out in FEES 3 Annex 1, other than where one of the applications is an application under the benchmarks regulation,52 only one fee is payable. That fee is the one for the category to which the highest fee tariff applies, unless the contrary intention appears66. Where applications are made under the benchmarks regulation, a separate fee will be payable for this application. 66

52

Method of payment

FEES 3.2.3 R RP

[deleted]76

66
FEES 3.2.3A R RP

[deleted]76

66 66
FEES 3.2.3B G RP

[deleted]76

23
FEES 3.2.4 G RP

[deleted]76

15
FEES 3.2.5 G RP
  1. (1)
    1. (a) 37

      The appropriate authorisation or registration 8fee is an integral part of an application for, or an application for a variation of, a Part 4A permission or approver permission70,24 authorisation, registration or variation under the Payment Services Regulations or the Electronic Money Regulations, registration under article 8(1) of the MCD Order, authorisation under regulation 7 of the DRS Regulations or verification under regulation 8 of the DRS Regulations45 or notification or registration under the AIFMD UK regulation24, registration or certification under the CRA Regulation, registration or recognition under EMIR or the Securities Financing Transactions Regulation, or registration under the Securitisation Regulations 202471.

      24880615716
    2. (b) 37

      Any application or notification24 received by the37FCA without the accompanying appropriate fee, in full and without deduction (see FEES 3.2.1 R), will not be treated as an application or notification24 made, incomplete or otherwise, in accordance with section 55U(4), or 3755H 37of the Act or regulation 5(3) or 12(3) of the Payment Services Regulations8 or regulation 5 or 12 of the Electronic Money Regulations or regulation 11(1) and 60(a) of the AIFMD UK regulation, regulation 7(2) of the DRS Regulations45 or article 9 of the MCD Order. 80

      3724
    3. (c) 37

      16Where this is the case, the 37FCA will contact the applicant to point out that the application cannot be progressed until the appropriate fee has been received. In the event that the appropriate fee, in full and without deduction, is not forthcoming, the application will be returned to the applicant and no application will have been made.

      3780
  2. (2)

    With the exception of persons seeking to become a designated professional body, all applications, notifications, requests for vetting or admission approval will be treated as incomplete until the relevant fee is fully paid and the 37FCA will not consider an application, notification, request for vetting or admission approval until the relevant fee is fully paid. Persons seeking to become a designated professional body have 30 days after the designation order is made to pay the relevant fee.

    37
FEES 3.2.6 G RP

Fees paid under this chapter are not refundable.

FEES 3.2.7 R RP

Table of application, notification, vetting and other fees payable to the FCA32

31

Part 1A: Application, notification and vetting fees66

31

31(1) Fee payer

(2) Fee payable (£)37 by reference to the pricing category in FEES 3 Annex 1AR.66

Due date

(a) Any applicant for Part 4A permission (including an incoming firm applying for top-up permission) whose fee is not payable pursuant to sub- paragraph (zza)52 of this table

26

(1) Unless (2) or (3)66 applies, in1 respect of a particular application, the highest of the tariffs set out in FEES 3 Annex 1AR66 which apply to that application.

66(2) 50% of the tariff payable under (1) is payable when either (a) or (b) apply:

66(a) the application is one referred to in paragraph p; or

66(b) the application is a limited permission case under FEES 3 Annex 1.

(3) If the applicant applies for registration under article 8(1) of the MCD Order at the same time as applying for a Part 4A permission66, the fee payable is the higher of: 80

(i) the fee 66payable in (1) or (2); and 80

(ii) the fee payable in FEES 3 Annex 10AR. 80

(4) [deleted]66

1 41 80 1 34 34 34 34 34 34 34 41

On or before the application is made

(aa) A person who makes an application under section 24A of the Consumer Credit Act 1974 which meets the conditions of article 31 (Applications for a standard licence where no determination made before 1 April 2014) of the Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) (No 2) Order 2013 (the “relevant application”)30

As (a) above less any amount paid to the Office of Fair Trading in relation to the relevant application.

Within 30 days of the date of the invoice.

(b) [deleted]56

4

(c) [deleted]66

(d) [deleted]66

27 		27 27

(da) Persons making an application or notification in relation to applications set out in FEES 3 Annex 2R:

66(i) an application for an order declaring a scheme to be recognised under section 271A or section 272 of the Act72;

66(ii) [deleted]74

68

66(v) an AIFM notifying the FCA of its intention to market an AIF in the UK under regulation 58 or 59 of the AIFMD UK regulation; and68

66(vi) an applicant for registration on the register of small registered UK AIFM.

58 36 66 66

Category applicable to the application or notification set out in FEES 3 Annex 2R66

36

On or before the date the application or notification66 is made

36

(e) Any applicant making an application set out in FEES 3 Annex 14R - Other FCA application fees:66

66(i) Any person seeking an order under section 326(1) of the Act to become a designated professional body;

66(ii) applicant to be added to the list of designated investment exchanges;

66(iii) any applicant for recognition as an accredited body;

66(iv) any applicant for registration under regulation 14 of the Risk Transformation Regulations as a protected cell company;

66(v) an application for recognition of an administrator in accordance with article 32 of the benchmarks regulation;

66(vi) an application for endorsement of a benchmark or family of benchmarks in accordance with article 33 of the benchmarks regulation;

66(vii) an application for authorisation under regulation 7 of the DRS Regulations, or the operator of a trading venue seeking verification of their compliance with Title V of MiFID under regulation 8 of the DRS Regulations;

66(viii) an application for variation of an authorisation under regulation 12 of the DRS Regulations;

66(ix) an application for connection to the market data processor system to provide reports directly to the FCA under MiFIR;

66(x) an application to connect to the market data processor system to provide markets data (other than transaction reports) under MAR 10;

(xi) an application for registration71 as a third party verifier;

(xii) an application for, to vary or cancel an approver permission70.

27 27 27 66

Pricing category applicable to the application set out in FEES 3 Annex 14R66

27 27

As specified in FEES 3 Annex 14R66

28

28(ea) [deleted]66

56 56

(eb) [deleted]66

28

(f) Persons making an application referred to in FEES 3 Annex 15R – Transaction fees:66

66(i) any applicant for a certificate under article 54 of the Regulated Activities Order;

66(ii) a transferor in the case of an insurance business transfer scheme;

66(iii) an issuer applying for registration of a regulated covered bond;

66(iv) an issuer who proposes to make a material change to the contractual terms of a regulated covered bond under RCB 3.5.4D;

66(v) an applicant for FCA permission for:

66i. an agreement to be enforced under section 28A(3)(a) of the Act; or

66ii. money paid or property transferred under the agreement to be retained under section 28A(3)(b) of the Act.

(vi) 67Applications in respect of controlled functions under the Senior Managers and Certification Regime (SMCR), including applications by principal firms in respect of SMCR functions in appointed representatives.

Pricing category applicable to the application or notification set out in FEES 3 Annex 15R.66

As specified in FEES 3 Annex 15R66

(g) Any applicant for recognition as a UK recognised body:62

(i) under section 287 of the Act; or62

(ii) under regulation 2(1) of the RAP regulations6256

17 78 17 17

FEES 3 Annex 3 , part 1

On or before the date the application is made26

(ga) [deleted]52

26 35 35 35

(h) Any applicant for recognition as an ROIE78 under section 287 or section 292 of the Act

78 78

FEES 3 Annex 3 , part 2

On or before the date the application is made

(i) [deleted]35

35 		35 35

(j) [deleted]38

38

38

(k) [deleted]35

35 		35 35

(l) [deleted]38

38

7 2

38

(m) [deleted]38

38

7 2

38

(n) [deleted]66

(o) [deleted]65

1 1 2 2 29 5 29 78 29 29 5 56 78 29 29 29 5 5 5 78 29 29 5 78 29 29 29 78 29 29 5

[deleted]65

5 2 5 5 5 1 2 5 1 5 5 5 5 1 5 78 5 78 5 5 2 56

[deleted]65

2 78 29 29 78 29 29 78 2 29

(oa) [deleted]65

29 37 37 37 37 58 56 37 37 37 37 58 37 37

[deleted]65

37

[deleted]65

37 37 37 37

(p) A firm applying for a variation of its Part 4A permission, as referred to in FEES 3 Annex 16R66, whose fee is not payable pursuant to sub- paragraphs 64(zza)52 or (zzh) 64 of this table

26

(1) As specified in FEES 3 Annex 1R-FEES 3 Annex 14R66

(2) Subject to (3) below, if the new business of the firm would fall within more than one pricing category in FEES 3 Annex 1AR, the fee payable is that in the highest pricing category applicable to the application.66

(2A) [deleted]66

(3) [deleted]66

(3A) [deleted]66

(3B) [deleted]66

(3C) If the applicant applies for registration under article 8(1) of the MCD Order at the same time as it applies for a variation of its Part 4A permission, the fee payable is the highest of:66

66(i) the fees set out in FEES 3 Annex 10AR;

(ii) the amount payable in accordance with FEES 3 Annex 16R;

(3D) [deleted]66

(4) [deleted]66

[deleted]66

30 80 44 41 30 80 80 1 1 1 78 78 37 78 37 80 80 37 1 1 37 37 30 30 23 37 37 37 37 30 37 37 37 30 37 11 11 37 37 30 37 30 80 41 11 78 1 44 44 44

On or before the date the application is made

30(pa) A person who makes an application under section 30(1) of the Consumer Credit Act 1974 which meets the conditions of article 33 (Variations at request of licensee where no determination made before 1 April 2014) of the Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) (No 2) Order 2013 (the “relevant variation application”)

As (a) or 31(p) above, less any amount paid to the Office of Fair Trading in relation to the relevant variation application.

Within 30 days of the date of the invoice.

2(q) [deleted]38

7 7 13 79 13 79 7 7 22 22 7

38

38

3 3 3

2(r) [deleted]46

 6 6 5 6 6

(s) [deleted]66

5 		77 77 37 59 37 59 77 77 37 77 37 37

6(t) [deleted]46

20

(u) [deleted]34

34 		34 34

(v) [deleted]38

22 22

38

38

[deleted]35

35 		35 35

(x)[deleted]38

38

38 8

(y) A person who makes an application or notification to the FCA under the Payment Services Regulations, including an application for variation of authorisation or registration.66

8

The fee payable is that in the highest pricing category applicable to the application or notification as set out in FEES 3 Annex 8R66.

47

On or before the date the application is made.

(ya) [deleted]66

47 		47 47

(z) [deleted]66

47

(za) [deleted]66

47

(zb) [deleted]66

47 		50 50 47 50 50 47 50 47 47 47 47 47 50 50

(zc) [deleted]66

47 		47 47 47 47 47 47

(zd)

47 		47

[deleted]47

(ze) Any person to which the Special Project Fee for restructuring applies under FEES 3 Annex 9.12

12

Special Project Fee for restructuring in accordance with FEES 3 Annex 9 .

30 days of the date of the invoice.9

(zf) [deleted]78

78 		78 9 16 78

(zg) A person who makes an application or notification to the FCA under the Electronic Money Regulations, including an application for variation of authorisation or registration66.

16

The fee payable is that in the highest pricing category applicable to the application or notification as set out in FEES 3 Annex 10R.66

On or before the date the application is made.

(zh) [deleted]66

16

(zi) [deleted]66

16 14

(zj) [deleted]66

16 		50 50

(zk) [deleted]66

16

(zl) [deleted]66

15 		18

(zm) [deleted]66

18 		41 41

(zn) [deleted]66

18 		41 41 21

21(zo) In the case of persons in respect of which the FCA has given notice of its intention to take, or appoint a competent person to take, any steps under CONRED 2.5.12R or 4.5.1R69, either:

(i) a Firm (as defined in CONRED 2.1.1R(1)) or 4.1.3R69; or

(ii) a person falling within CONRED 2.1.2R(1) or 4.1.5R69.

An amount equal to:

(1) a sum determined by the number of hours, or part of an hour, taken by the FCA in relation to work conducted in taking steps under CONRED 2.5.12R or 4.5.1R69 recorded on the FCA's systems, multiplied by the rate in FEES 3 Annex 9 (11)R; or

(2) any amount invoiced to the FCA by a competent person in relation to any work carried out by that competent person in connection with its appointment by the FCA under CONRED 2.5.12R or 4.5.1R69.

Within 30 days of the date of the invoice.

78(zp) A person in respect of which the FCA37 has given notice of its intention to itself appoint a skilled person to provide it with a report pursuant to section 166(3)(b) of the Act and SUP 5.2.

37

Any amount invoiced to the FCA37 by a skilled person in relation to any work carried out by that skilled person in connection with its appointment by the FCA37 pursuant to section 166(3)(b) of the Act.

37

Within 30 days of the date of the invoice.

78(zq) A person in respect of which the FCA37 has given notice of its intention to itself appoint a skilled person to collect or update information pursuant to section 166A(2)(b) of the Act .

37

Any amount invoiced to the FCA37 by a skilled person in relation to any work carried out by that skilled person in connection with its appointment by the FCA 37 pursuant to section 166A(2)(b) of the Act.

37 37

Within 30 days of the date of the invoice.33

33(zr) [deleted]38

38

38

(zs) [deleted]66

30 31 		31 30 31 31

(zt) An applicant for registration in the Financial Services Register under article 8(1) of the MCD Order. 80

Unless (1), or (2) applies, the fee as set out in FEES 3 Annex 10A. 80

(1) If the applicant is applying for a Part 4A permission at the same time as it applies for registration under article 8(1) of the MCD Order, the fee payable in row (a), column (2) paragraph (3) of this Table. 80

(2) If the applicant is applying for a variation of a Part 4A permission at the same time as it applies for registration under article 8(1) of the MCD Order, the fee payable in row (p), column 2 paragraph (3)(c) of this Table. 80

On or before the application is made.80

(zu)40 Any person to which the Designated Credit Reference Agencies and Finance Platform42 Fee applies under FEES 3 Annex 10B.

39

Designated Credit Reference Agencies and Finance Platform42 Fee in accordance with FEES 3 Annex 10B.

Within 30 days of the date of the invoice.

43(zv) Any firm that meets the test in FEES 3 Annex 10C(1)R(1) (PPI campaign fees).

The amount set out in FEES 3 Annex 10C(1) R(2).

Within 30 days of the date of the invoice.

(zw) [deleted]66

45 63 63 49 63

(zx) [deleted]66

46 		63

(zy) [deleted]66

46 49 56

56

63

(zz) [deleted]66

51

52(zza) An application for authorisation as a regulated benchmark administrator.

The highest of the applicable tariffs set out in FEES 3 Annex 1AR.66

Where an applicant intends to administer benchmarks falling into different complexity groupings, it will pay one fee only, for the highest category applied for. If, once authorised, a regulated benchmark administrator notifies the FCA of its intention to administer other/additional benchmarks no further application fee is payable (even if the other/additional benchmark falls into a higher complexity category).

On the date the application is made.

(zzb) [deleted]66

52

(zzc) [deleted]66

52

54(zzd) applications for claims management companies

The fee applicable to the application as set out in paragraph CMC of Part 2 of FEES 3 Annex 1R.66

Firms which already have Part 4A permissions and are applying to vary their permissions will pay 50% of66 the relevant fee.

On the date the application is made.

(zze) [deleted]66

55

61(zzf) UK-based applicants for registration as a trade repository; a securitisation repository, or a third country applicant seeking recognition as a trade repository.

5,000

Applicants for registration as a trade repository who already hold registration as a securitisation repository, or vice versa, will receive a 50% discount on the relevant application fee.

Applicants for registration as a trade repository to carry on activity for the purposes of UK SFTR who already hold registration as a trade repository under EMIR or vice versa, will receive a 50% discount on the relevant application fee.

On the date the application is made.

61(zzg) UK-based applicants for registration as a credit rating agency or a third country applicant seeking certification as a credit rating agency.

The fee set out in FEES 3 Annex 13R.

On the date the application is made.

64(zzh) Permission for

(1) carrying on funeral plan distribution;

(2) carrying out a funeral plan contract as provider; or

(3) carrying out a funeral plan contract as provider and entering as provider into a funeral plan contract.

(1) The highest of the tariffs set out in FEES 3 Annex 1R part 3A which apply to that application, subject to (2) and (3) below.

(2) Unless (3) below applies, where an applicant was carrying out any of the activities referred to in (zzh)(1)-(3) on 1 September 2021, and makes an application for permission for any of those activities after 1 November 2021, the application fees shall be:

(a) £3,500 for (zzh)(1) or zzh(2);

(b) £14,000 for (zzh)(3).

(3) If an applicant which already has any of the permissions referred to in (zzh) applies to vary its permission, the application fees shall be:

(a) £500 for (zzh)(1);

(b) £1,250 for (zzh)(2); and

(c) £5,000 for (zzh)(3).

On or before the application is made.

32Part 2: Primary market fees73

38

(1) Fee payer

(2) Fee payable

(3) Due date

(a)

(i) An issuer which has not made public its annual financial report before the latest time specified in DTR 4.1.3 R.

(ii) An issuer which has not made public its half-yearly financial report before the latest time specified in DTR 4.2.2 R (2).

FEES 3 Annex 12R 38

Within 30 days of the date of the invoice.

38(b) An applicant for approval as a sponsor.

FEES 3 Annex 12R

On or before the date the application is made.

38(c) For the purposes of48 the listing rules:48

(i)48 an issuer requesting approval of a document arising in relation to a specific event or transaction, which is not a significant transaction or a super transaction; or48

48(ii) an issuer or person applying for eligibility for listing of its securities.

FEES 3 Annex 12R

On or before the date that relevant document is first submitted to the FCA.

38(d) Under the Prospectus Rules or the Prospectus Regulation60, an issuer or a person requesting approval or review of a document arising in relation to a specific event or transaction, which is not a significant transaction or a super transaction.

FEES 3 Annex 12R

On or before the date that relevant document is first submitted to the FCA.

38(e) An issuer requesting the approval or review of a document in connection with a super transaction.

FEES 3 Annex 12R

On or before the date that relevant document is first submitted to the FCA.

38(f) An issuer requesting the approval or review of a document in connection with a significant transaction.

FEES 3 Annex 12R

On or before the date that relevant document is first submitted to the FCA.

38(g) A person who requests the FCA’s approval of a document that includes a mineral expert’s report and who is a fee payer under one or more of the categories (c), (d), (e), and (f) above must additionally pay a fee under this category.

FEES 3 Annex 12R

On or before the date that relevant document is first submitted to the FCA.

38(h) An applicant for approval as a primary information provider.

FEES 3 Annex 12R

On or before the date the application is made.

[Note:Guidance on how a firm liable to pay a fee under both rows (s) and (ze) of this table for the same transaction should expect to be treated is set out in FEES 3 Annex 11 G.]19

FEES 3 Annex 1 Authorisation fees payable

R

Part 1 – Authorisation fees payable in the A, B, C, CC and CMC fee-blocks36

For FCA-authorised persons and persons seeking to become FCA-authorised persons, the amount payable to the FCA is the amount payable in the pricing category applicable to the application as set out under:36

36(a) Part 1(a) below; or

36(b) Part 2 below.

36The fees applicable to credit unions are set out in Part 1b below.

23For PRA-authorised persons and persons seeking to become PRA-authorised persons, the amount payable to the FCA is the amount payable under Part 1(b).

23[Note:PRA-authorised persons may also pay regulatory transaction fees for new authorisations to the PRA as set out in Chapter 4 of the Fees Part of the PRA's Rulebook.]

The 23Tables below 23set out the following:18

(1) fees for applications by credit unions in Part 1(b)36 and community finance organisations in Part 1(a)36;

(2) fees for applications in the A, B, C, CC and CMC fee-blocks in Part 236.

(3) [deleted]36

9 40 23 23 23 23 23 21 18 18 18 18

Part 1(a) Authorisation Fees payable to the FCA by community finance organisations36

23

18 Application type

Amount payable (£)

(1) Community finance organisations23

21 23

(a) [deleted]23

 23

(aa) Community finance organisations2321 - where application is for a Part 4A permission limited to permission to carry on credit-related regulated activity

23

Pricing category 1 in FEES 3 Annex 1AR36

25(ab) Community finance organisations -27 where application is for a Part 4A permission as a home finance provider or home finance administrator

Pricing category 1 in FEES 3 Annex 1AR36

27(ac) [deleted]36

(b) [deleted]23

23 		23

(c) [deleted]23

23 		23

[deleted]36

(d) [deleted]36

(e) [deleted]36

(f) [deleted]36

(3) [deleted]36

(g) [deleted]36

[deleted]36

(h) [deleted]36

(i) [deleted]36

(j) [deleted]36

30(4) [deleted]36

30(k) [deleted]36

30(l) [deleted]36

31(5) [deleted]36

31(m) [deleted]36

23 Part 1(b) Authorisation Fees payable to the FCA by PRA-authorised persons

Application type

Amount payable (£)

(1) Credit unions

(a) Credit unions - registration of a common bond

200

(aa) Credit unions where application is for a Part 4A permission limited to permission to carry on credit-related regulated activity

100

(b) Credit unions25(other than where (aa) applies)

150

(c) [deleted]25

25

(2) [deleted]36

(d) [deleted]36

(e) [deleted]36

(f) [deleted]36

(3) [deleted]36

(g) [deleted]36

(h) [deleted]36

(i) [deleted]36

(j) [deleted]36

Part 2 – Pricing categories applicable to applications made in the following activity groupings in the A, B, C, CC and CMC fee blocks36

26 18 9 29

Activity grouping

Description

Applicable pricing category in FEES 3 Annex 1AR 36

36A.1

Deposit acceptors (excluding e-money issuers and credit unions) and dormant asset fund operators37

7

36A.2

Home finance providers and administrators

6

A.3

Friendly societies only

436

UK ISPVs 36

6 36

Insurers - general (excluding friendly societies and UK ISPVs36

736

A.4

Friendly societies only16

436

Insurers - life (excluding friendly societies) 36

736

36A.5

Managing agents at Lloyd’s

5

36A.7

Portfolio managers

6

36A.9

Managers and depositaries of investment funds, and operators of collective investment schemes or pension schemes

6

16A.10

Firms dealing as principal 36

32 33

636

A.13

Advisors,20 arrangers, dealers or brokers

20 20

436

A.14

Corporate finance advisers

436

A.181

Home finance providers 4, advisers and arrangers (excluding home finance providers4).1

4 4 9 12 11

436

A.191

General insurance distribution28

1

436

19A.21

Holding client money or assets or both.

436

36A.23

Carrying on funeral plan distribution

4

36A.23

Carrying out a funeral plan contract as provider

4

36A.23

Carrying out a funeral plan contract as provider and entering as provider into a funeral plan contract

6

39A.24

Carrying on regulated pensions dashboard activity

5

29B.

Regulated benchmark administrators where the applicant intends to administer a non-significant benchmark

436

36B.

Service companies

6

36B.

Regulated benchmark administrators where the applicant intends to administer:

- a significant benchmark; or

- a commodity benchmark or an interest rate benchmark which has not been designated as a critical benchmark; or

- a regulated-data benchmark other than one which is a non-significant benchmark.

6

36B.

MTF operators and OTF operators

8

36B.

Regulated benchmark administrators where the applicant intends to administer a critical benchmark

8

36CC1

Credit-related regulated activity – limited permission

2

Not-for-profit debt advice body

No fee payable

36CC2

(1) Credit broking;

(2) Providing credit information services;

(3) Advising on regulated credit agreements for the acquisition of land;

(4) Debt adjusting where limited to:

(i) no debt management plans;

(ii) settlement sale of goods; or

(iii) settlement vehicle finance.

(5) Debt counselling where limited to:

(i) no debt management plans;

(ii) settlement sale of goods; or

(iii) settlement vehicle finance.

3

(1) Debt administration;

(2) Debt collecting;

(3) Entering into a regulated consumer hire agreement as owner;

(4) Entering into a regulated credit agreement as lender (excluding in relation to high-cost short-term credit, bill of sale loan agreements and home credit loan agreements);

(5) Exercising, or having the right to exercise, the owner’s rights and duties under a regulated consumer hire agreement;

(6) Exercising, or having the right to exercise, the lender’s rights and duties under a regulated credit agreement (excluding in relation to high-cost short-term credit, bill of sale loan agreements and home credit loan agreements);

(7) Operating an electronic system in relation to lending.

5

CC.2

(1) Debt adjusting except where limited to:

(i) no debt management plans;

(ii) settlement sale of goods; or

(iii) settlement vehicle finance.

(2) Debt counselling except where limited to:

(i) no debt management plans;

(ii) settlement sale of goods; or

(iii) settlement vehicle finance.

(3) Entering into a regulated credit agreement as lender in relation to high-cost short-term credit, bill of sale loan agreements and home credit loan agreements;

(4) Exercising, or having the right to exercise, the lender’s rights and duties under a regulated credit agreement in relation to high-cost short-term credit, bill of sale loan agreements and home credit loan agreements;

(5) Providing credit references.

6

CMC

Claims management companies applying only for the permission of seeking out persons who may have a claim.

4

Claims management companies applying for any other permission

6

[deleted]36

9

[deleted]3629

[deleted]36

18 18

[deleted]36

18

[deleted]36

18

[deleted]36

35

Part 5 - Activity Groupings R

The activity group definitions are set out in FEES 4 Annex 1A.

2 2 41 41 23

Part 6 - Change of legal status2

2

An application involving only a simple change of legal status for the purposes of FEES 3.2.7 R, FEES 3.2.7R (y),14FEES 3.2.7R (za)7, FEES 3.2.7 R (zg) and FEES 3.2.7 R (zh)14 is from an applicant:

2 41 23

(1) which is a new legal entity intending to carry on the business, using the same business plan, of an existing firm with no outstanding regulatory obligations cancelling its Part 4A permission or14 authorisation or registration under the Payment Services Regulations or the Electronic Money Regulations,147 and

(2) which is to:

(a) have the same or narrower permission, scope of authorisation or registration under the Payment Services Regulations or Electronic Money Regulations147and the same branches (if any), as the firm;

(b) assume all of the rights and obligations in connection with any of14 the regulated activities,14payment services7 and electronic money issuance14 carried on by the firm;

(c) continue the same compliance arrangements and compliant client asset and client money procedures, as the firm, subject to any changes required only as a result of the change of legal status;

(d) continue with a risk profile and arrangements for controlling and monitoring risk which will not be materially different from those of the firm; and

(e) have the individuals within the firm that are responsible for insurance distribution activity28 perform the same role for the applicant.

Part 7 - Change of legal status - sponsors fees

15An application involving only a simple change of legal status for the purposes of FEES 3.2.7R Part 2(1)(b)24 is from an applicant:

(1) which is a new legal entity intending to carry on the business of an existing sponsor (as defined in the listing rules) in respect of which the FCA does not currently require, and is not proposing to require, remedial action relating to any aspect of its provision of sponsor services); and

(2) which (subject to any changes required only as a result of the change in legal status) is to:

(a) assume all of the rights and obligations in connection with any of the sponsor activities of the existing sponsor under the listing rules;

(b) make no changes to the systems and controls of the existing sponsor which ensure that the existing sponsor can carry out its role as sponsor in accordance with UKLR 24 (Sponsors)38;

(c) have the individuals within the existing sponsor that are engaged in the provision of sponsor services engaged in the same role for the applicant; and

(d) otherwise continue to comply in all respects with the criteria for approval as a sponsor set out in UKLR 24.4.5R38.

FEES 3 Annex 1A 1 FCA pricing categories

R

Category

Price

Category 1

£2702

Category 2

£5402

Category 3

£1,0902

Category 4

£2,7202

Category 5

£5,4402

Category 6

£10,8802

Category 7

£27,1902

Category 8

£54,3802

Category 9

£108,7502

Category 10

£217,5002

FEES 3 Annex 2 Application and notification fees payable in relation to collective investment schemes, recognised schemes, money market funds and AIFs marketed in the UK1211654

R

Legislative provision

Nature and purpose of fee

Payable by

Applicable pricing category in FEES 3 Annex 1AR or amount of fee (£) 11

4 4

Umbrella factor (note 1) 1

1

Part 1 [deleted]1

1

[deleted]1

1

[deleted]1

1

[deleted]1

1

[deleted]1

1

[deleted]1

1

[deleted]1

1

[deleted]1

1

[deleted]1

1

[deleted]1

1

[deleted]1

1

[deleted]1

1

[deleted]1

1

[deleted]1

1

[deleted]1

1

[deleted]1

1

Part 2 (Application fees payable for firms to be subject to COLL)11

(1)9 Regulation 12 of the OEIC Regulations, application for order declaring a scheme to be an ICVC

1 1 6

On application for an order, 9where the scheme is a8:

An applicant

2

UCITS scheme

Category11 49

Non-UCITS retail scheme

Category11 49

Qualified investor scheme

Category11 59

Long-term asset fund 8

Category11 59

8

9(2) Section 242 of the Act, application for order declaring a scheme to be an AUT

9(3) Section 261C of the Act, application for order declaring a scheme to be an ACS, whether it is established as a co-ownership scheme or a limited partnership scheme

9(1), (2) and (3) also apply to funds where an application is also made to be authorised under the Money Market Funds Regulation

6

On application for an order declaring a scheme to be an AUT, where the scheme is a8:

An applicant

22

UCITS scheme

Category11 49

Non-UCITS retail scheme

Category11 49

Qualified investor scheme

Category11 59

Long-term asset fund 8

Category11 59

8

2 Section 261C of the Act

This section also applies to funds where an application is also made to be authorised under the Money Market Funds Regulation6

On application for an order declaring a scheme to be an ACS, whether it is established as a co-ownership scheme or a limited partnership scheme, where the scheme is a:

An applicant

2

UCITS scheme

Category11 49

6

non-UCITS retail scheme

Category11 49

6

qualified investor scheme

Category11 59

6

Long-term asset fund 8

Category11 59

8

11Section 271A of the Act

On application for an order declaring a scheme to be recognised, where the scheme was:

An applicant

recognised under regulation 62 of the Collective Investment Schemes (Amendment etc.) (EU Exit) Regulations 2019 immediately before the application

£2,720

2

not recognised under regulation 62 of the Collective Investment Schemes (Amendment etc.) (EU Exit) Regulations 2019 immediately before the application

Category 4

2

Section 272 of the Act

On application for an order declaring a scheme to be recognised where the scheme is:3

3

An applicant

 3 3

7

3

7

3

7

3

7

3

7

3

7

3

a non-UK AIF or AIF7 equivalent to a UK UCITS,7non-UCITS retail scheme, a qualified investor scheme or a long-term asset fund

3

Category11 69

3

23

Where funds of any kind set out in Part 2 exist prior to 21 July 2018, a flat fee will be payable on an application for authorisation under the Money Market Funds Regulation6

Category11 19

6

Part 2A [deleted]12

10 5

12

10 5 		10 5 5 5 9 5

6Part 2B Application fees payable for UK or non-EEA firms applying for authorisation under article 5 of the Money Market Funds Regulation

Article 5 of the Money Market Funds Regulation

UK AIF (apart from those authorised as a non-UCITS retail scheme, a qualified investor scheme or a long-term asset fund)8

7

29

Non-UK AIF 7 which is marketed in the UK7

39

Non-UK AIF 7 which is not marketed in the UK7

29

Non-UK AIF 7 which is not managed by an AIFM but is marketed in the UK7

39

Part 3 (notifications) [deleted]10
9 3
3

4Part 4 (Alternative Investment Funds: fees payable for making a notification to the FCA to market an AIF)

9Regulation 10 of the AIFMD UK regulation

Application for registration on the register of small registered UK AIFMs

the AIFM

3

N/A

4Regulation 57 of the AIFMD UK regulation

On giving notice under regulation 57 of the AIFMD UK regulation – price payable per AIF9

the AIFM

19

N/A

4Regulation 58 of the AIFMD UK regulation

On giving notice under regulation 58 of the AIFMD UK regulation – price payable per AIF9

the AIFM

19

N/A

4Regulation 59 of the AIFMD UK regulation

On giving notice under regulation 59 of the AIFMD UK regulation – price payable per AIF9

the AIFM

19

N/A

The fees in this Part are payable in addition to any other authorisation application fees.6

6Part 5 (Administration fee for money market funds that exist prior to 21 July 2018 which need to apply for authorisation by the FCA by 21 January 2019)

Article 4 of the Money Market Funds Regulation

On application by an existing money market fund which from 21 July 2018 seeks to be authorised under the Money Market Funds Regulation

21 July 2018

19

2

Notes:

1.

For an umbrella1 the fee is multiplied by the factor shown in the final column of the table.

1

FEES 3 Annex 3 1 1 10 2Application fees payable in connection with Recognised Investment Exchanges and Recognised Auction Platforms6

R

Description of applicant

Applicable pricing category in FEES 3 Annex 1AR7 or amount payable (£)9

Due date

Part 1 (UK recognised bodies)

Applicant for recognition as a UK RIE

Category9 107

Date the application is made

Applicant for recognition as a RAP (payable in addition to any other application fee due under this part)6

1 5

£935,0006

5

Date the application is made6

2 5

[deleted]4

2 3 3 3

[deleted]4

3

Additional fees for a UK RIE1 applicant who proposes to:

10

- offer safeguarding and administration services

Category9 87

Date the application is made

- use substantially new and untested information technology systems in the performance of its relevant functions

Category9 87

Date the application is made

Part 2 (ROIEs10)

10

Applicant for recognition as a recognised overseas investment exchange

Category9 97

Date the application is made

Additional fees for applicant who proposes to:

- offer safeguarding and administration services

Category9 87

Date the application is made

8- use substantially new and untested information technology systems in the performance of its relevant functions

Category9 7

Date the application is made

FEES 3 Annex 6A 5 [deleted]6

R

[deleted]5

FEES 3 Annex 8 2Fees payable under the Payment Services Regulations, including4 for authorisation as an authorised payment institution, registration as a small payment institution, notification fees and fees for variation of authorisation and registration4

R

Where an application involves a simple change of legal status as set out in FEES 3 Annex 1 Part 6, the fee payable is 50% of the tariff that would otherwise be payable.

4Where more than one fee is applicable to an application, the tariff payable is the highest of the applicable tariffs.

1

Application type for authorisation, registration and notification 2under Part 2 of the Payment Services Regulations5

2

Applicable pricing category in FEES 3 Annex 1AR or amount payable (£)5

4

(1) small payment institution

Category5 24

(2) authorised payment institution - where the applicant is applying for authorisation to provide payment services in paragraph(s) (f) (money remittance) and/or (g) (payment initiation services) and/or (h) (account information services) 3of Part 1 of Schedule 1 to the Payment Services Regulations

Category5 44

3(2)(i) registered account information service provider - where the applicant is applying for registration to provide payment services in paragraph (h) (account information services) of Part 1 of Schedule 1 to the Payment Services Regulations only

Category5 34

3

(3) authorised payment institution - where the applicant is applying for authorisation to provide payment services in any one or more of paragraph(s):

(a) (enabling 3cash to be3 placed on payment account and all operations required for operating a payment account)3;

(b) (enabling 3cash withdrawals 3from a payments account and all operations required for operating a payment account)3;

(c) (execution of direct debits5, payment transactions executed through a payment card or similar device, credit transfers)3;

(d) (execution of payment transactions where the funds are covered by a credit line for the payment service user)3;

(e) (issuing payments instruments or acquiring payment transactions3)

of Part 1 of Schedule 1 to the Payment Services Regulations.

Category5 54

(4) authorised payment institution - where, at the time the application is made, the applicant intends to use agents2

2

£53 for each agent registered with the FCA at the time of application.

This fee is in addition to any fee due under paragraph (2) or (3) of this table.2

2

(5) authorised payment institution - where, during the course of the FCA financial year (12 months ending 31 March), the firm notifies the FCA of any changes to the list of agents it has registered since authorisation2

2

£53 for each change notified to the FCA during the FCA financial year.

No fee is due under paragraph (5) if the total number of notifications to the FCA during the FCA financial year numbers 100 or less.2

2

3(6) A person (service provider) - where, during the course of the FCA financial year (12 months ending 31 March) that person notifies the FCA under regulation 38 of the Payment Services Regulations of its use of the limited network exclusion or the electronic communications exclusion4

[Note: If the FCA determines that the claim for exemption is not valid and the business must apply for authorisation or registration, then the latest exemption charge paid by the business will be deducted from the relevant application fee.]4

Category5 14

3 If the FCA determines that the claim for exemption is not valid and the business must apply for authorisation or registration, then the latest exemption charge paid by the business will be deducted from the relevant application fee.

3

(7) [deleted]4

3 		3 3

4(8) The fees set out in paragraphs (8)(a), (b) and (c) are applicable to an authorised payment institution applying to vary its authorisation under regulation 5 of the Payment Services Regulations where the authorised payment institution is applying to increase the payment services that it is permitted to carry on. The fees in these paragraphs are irrespective of the number of agents the applicant has.

(a) If the authorised payment institution is authorised to carry on payment services in paragraphs (f), (g) or (h) of Part 1 of Schedule 1 to the Payment Services Regulations and is applying to extend its authorisation to include any one or more of the payment services in (a) to (e) of Part 1 of Schedule 1.

50% of Category5 4

(b) If the authorised payment institution is authorised to carry on payment services in paragraphs (a) to (e) of Part 1 of Schedule 1 to the Payment Services Regulations and is applying to add one or more of the services in (a) and (f).

50% of Category5 4

(c) If the authorised payment institution is authorised to carry on payment services in paragraphs (a) to (f) of Part 1 of Schedule 1 to the Payment Services Regulations and is applying to add one or both services in (g) and (h).

50% of Category5 4

These charges are irrespective of the number of agents the applicant has.

4(9) Variation of registration under regulation 13 of the Payment Services Regulations where the small payment institution is applying to increase the payment services that it is permitted to carry on.

50% of Category5 2

3Note: See FEES TP 17 for transitional provisions relating to fees payable for authorisation as an authorised payment institution or registration as a small payment institution under the Payment Services Regulations 2017 (SI 2017/752).
3

FEES 3 Annex 9 Special Project Fee for restructuring

R

2(1) R

The Special Project Fee for restructuring (the SPFR) is only payable by a person in one of the following categories:

(a)

if that person falls within8 any of the A, B,10 CC1, CC2 and CMC8 fee-blocks (as defined in Part 1 of FEES 4 Annex 1A6R; or

12 12 6

(b)

if that person falls within8 fee-block G.3 or G.108 (as defined in FEES 4 Annex 11); or

(c)

[deleted]8

(d)

[deleted]12

12

(e)

[deleted]10

8 9 12 6 12 6 6

9(f)

if that person applies for the permission in MIFIDPRU 4.12.4R.

(2) R

The SPFR becomes payable by a person falling into (1)(a) or (b) if it engages in, or prepares to engage in, activity which involves it undertaking or making arrangements with a view to any of the following:

(a)

raising additional capital; or

(b)

a significant restructuring of the firm or the group to which it belongs, including:

(i) mergers or acquisitions;

(ii) reorganising the firm'sgroup structure; 7

(iii) reattribution;7

(iv) a significant change to the firm’s business model; and7

(v) a significant internal change programme.7

(c)

a scheme of arrangement under Part 26 of the Companies Act 2006 in respect of that person.8

(3) R

No SPFR is payable under (2) if the transaction only involves the firm seeking to raise capital within the group to which it belongs.

(4) R

Where the transaction in (2) involves raising capital outside the group to which the firm belongs, any SPFR in relation to that transaction is only payable by the largest firm in that group. The largest firm is the one that pays the highest periodic fee in the fee year in which the bill is raised. For the purpose of the calculation in (9), all time spent and fees and disbursements incurred in relation to the group are added together.

11 11 6 11 11 6

(5) R

The definition of group is limited for the purposes of calculating the SPFR to parent undertakings and their subsidiary undertakings.

(6) R

The SPFR also becomes payable by any person falling into (1) if any of the following circumstances apply to it:

(a)

an insolvency order is in effect as respects the person or the person is being voluntarily wound up or steps are being taken for the making of an insolvency order or voluntary winding up of, or with respect to, the person by someone entitled to take such steps; or

(b)

the Bank of England or the Treasury have exercised a stabilisation power in respect of the person under the Banking Act 2009.

(7) R

In (6):

(a)

references to an insolvency order or winding up include the equivalent process in any jurisdiction outside the United Kingdom; and

(b)

references to an insolvency order include such an order made under the Banking Act 2009.

12(7A)R

6The FCA will levy its own SPFR separate to any levy issued by the PRA and this may be in relation to the same event or circumstance.

6

(8) R

No7 SPFR is payable to6the FCA:

4 4 12 6

(a)

if the amount calculated in accordance with (9) in relation to the regulatory work conducted by the 6FCA6totals less than £50,000 in the case of an FCA-authorised person or £25,000 in the case of a PRA-authorised person7; or

12 6 6

(b)

for time spent giving guidance to the person in relation to the same matter if the 6FCA has charged that person for that guidance.

6

(9) R

The SPFR for the 6FCA is calculated as follows:

12 6

(a)

Determine the number of hours, or part of an hour, taken by the 6FCA7 in relation to regulatory work conducted as a consequence of the activities referred to in (2) or (6).

6 4

(b)

Next, multiply the applicable rate in the table at (11) by the number of hours or part hours obtained under (a).

(c)

Then add any fees and disbursements invoiced to the 6FCA by any person in respect of services performed by that person for the6FCA in relation to assisting the6FCA in performing the regulatory work referred to in (a).

6 6 6

(d)

The resulting figure is the fee.

(e)

The number of hours or part hours referred to in (a) are the number of hours or part hours as recorded on the 6FCA's systems in relation to the regulatory work referred to in (a).

(10) R

The first column in the table at (11) sets out the relevant pay grades of those employed by the 6FCA and the second column sets out the hourly rates chargeable in respect of those pay grades.

6

(11) R

Table of FCA12 hourly rates:

FCA12 pay grade

12

Hourly rate 6(£)

6

Administrator

457

3 3

Associate

757

3 3

Technical Specialist

1307

3 3

Manager

1457

3 3

Any other person employed by the FCA12

12

2557

3 3

6(11A) R

12

6[deleted]

6

6

6

5 5 6

6

6

5 5 6

(12) G

The obligation to pay the SPFR is ongoing. Accordingly, there is no limitation on the number of times that the 6FCA may invoice a person for the SPFR in relation to the same events or circumstances referred to in (2) or (6). If the 6FCA does so, there is a single floor under (8)(a) and not a separate one for each instalment. Therefore, for example, if a person is subject to an administration order, the 6FCA may invoice the person on a periodic basis for all the related regulatory work, but may only do so once the total fee (including disbursements) equals 50,000.

6 6 6

(13) G

If the SPFR is payable, the full amount calculated under (9) is payable not just the excess over £50,000 or £25,0007.

(14) G

The SPFR is a single fee. Therefore the SPFR may be payable under both (2) and (6). If it is payable under both, there is only a single floor under (8)(a), not two separate ones.

FEES 3 Annex 10 2Fees payable under the Electronic Money Regulations, including for authorisation as an authorised electronic money institution, registration as a small electronic money institution or variation thereof and notification fees, in accordance with the Electronic Money Regulations3

FEES 3 Annex 10 R

Authorisation, registration and variation fees payable

1Application type for authorisation, registration, variation or notification under Part 2 of the Electronic Money Regulations4

2 2

Applicable pricing category in FEES 3 Annex 1AR3 or amount payable (£)4

(1) small electronic money institution

Category4 33

(2) authorised electronic money institution

Category4 53

2(3) electronic money institution - where, at the time the application is made, the applicant intends to use agents

£43 for each agent registered with the FCA at the time of application.

This fee is in addition to any fees due under paragraph (1) or (2) of this table.

2(4) electronic money institution - where, during the course of the FCA financial year (12 months ending 31 March), the firm notifies the FCA of any changes to the list of agents it has registered since its authorisation

£43 for each change notified to the FCA during the FCA financial year.

No fee is due under paragraph (4) if the total number of notifications to the FCA during the FCA financial year numbers 100 or less.

3(5) An authorised electronic money institution applying to vary its authorisation under regulation 8 of the Electronic Money Regulations.

(a)

Subject to (5)(b) below, where the authorised electronic money institution is applying to vary its authorisation to increase the services that it can carry on.

50% of Category4 5

(b)

Where the authorised electronic money institution applies to vary its authorisation to provide one of both of the one or both of the payment services in paragraphs (g) and (h) of Part 1 of Schedule 1 to the Payment Services Regulations.

50% of Category4 4

3(6) A small electronic money institution applying for a variation of registration under regulation 12 of the Electronic Money Regulations.

50% of Category4 3

FEES 3 Annex 10A Fees payable for registration as a CBTL firm under article 9 of the MCD Order

FEES 3 Annex 10A R

Application type 1

2

Applicable pricing category in FEES 3 Annex 1AR1

(1) An applicant who, at the time of application, holds a Part 4A permission or interim permission and has not had a registration as a CBTL firm revoked under article 13 of the MCD Order.

11

(2) An applicant who, at the time of application,

(a) does not hold a Part 4A permission or interim permission; or

(b) has previously held a registration as a CBTL firm which was revoked under article 13 of the MCD Order

21

FEES 3 Annex 10B Designated Credit Reference Agencies and Finance Platforms Fee 1

(1)

R

The Designated Credit Reference Agencies and Finance Platform Fee1 (the “DCRFP1”) is only payable by a designated credit reference agency or a designated finance platform1.

(2)

R

The DCRFP 1becomes payable by a person falling into (1) if the FCA conducts regulatory work connected to:

(a)

breaches or potential breaches by that person of requirements under the Small and Medium Sized Business (Credit Information) Regulations or the Small and Medium Sized Business (Finance Platform) Regulations1.

(b)

whether the person has or may have committed an offence of misleading the FCA under regulation 34 of the Small and Medium Sized Business (Credit Information) Regulations or regulation 31 of the Small and Medium Sized Business (Finance Platforms) Regulations1.

(3)

R

A person falling into (1) is not required to pay the DCRFP 1if the amount calculated in accordance with (4) for the FCA’s regulatory work described at (2)(a) and/or (b) is less than £10,000.

(4)

R

The DCRFP 1is calculated as follows:

(a)

Determine the number of hours, or partial hours, taken by the FCA in performing the regulatory work described at (2)(a) and/or (b).

(b)

Use the table at FEES 3 Annex 9(11)R to determine the relevant pay grades of those employed by the FCA to perform the regulatory work described at (2)(a) and/or (b).

(c)

Next, multiply the applicable pay grade rate in the table at FEES 3 Annex 9(11)R by the number of hours or part hours obtained under (a).

(d)

Then add any fees and disbursements invoiced to the FCA by any person in respect of services performed by that person for the FCA in relation to assisting it in performing the regulatory work referred to in 2(a) and/or (b).

(e)

The resulting figure is the DCRFP1.

The number of hours or partial hours referred to in (4)(a) are the number of hours or partial hours as recorded on the FCA’s systems in relation to the regulatory work referred to in (2)(a) and/or (b).

(5)

G

The hourly rates chargeable for the FCA pay grades are set out in the table at FEES 3 Annex 9(11)R Special Project Fee for Restructuring.

(6)

G

(a)

The obligation to pay the DCRFP 1is ongoing. There is therefore no limit on the number of times that the FCA may invoice a person falling into (1) for the DCRFP 1for the same regulatory work described at (2)(a) and/or (b).

(b)

If the FCA issues more than one invoice, there is a single floor under (3) and not a separate one for each instalment.

(7)

G

If the DCRFP 1is payable, the full amount calculated under (4) is payable; not just the excess over £10,000.

(8)

G

The FCA shall provide any person falling into (1) with written notice that it is performing regulatory work described at 2(a) and/or (b) which is likely to exceed £10,000 calculated in accordance with (4) as soon as is reasonably practicable.

FEES 3 Annex 10C PPI campaign fees

FEES 3 Annex 10CR R

1

(1)

R

(1)

A firm must pay a PPI campaign fee calculated in accordance with (2) if it has:

(a)

reported over 100,000 complaints cumulatively under question 17(A) (payment protection insurance – advising, selling and arranging) of the complaints return form in DISP 1 Annex 1R; and

(b)

reported those complaints from 1 August 2009 up to and including 1 August 2015.

(2)

The PPI campaign fee is calculated by multiplying the number of complaints cumulatively reported to the FCA under question 17(A) of DISP 1 Annex 1R for the firm from 1 August 2009 up to and including 1 August 2015 by £3.64.

(2)

R

(1)

A firm’s PPI campaign fee will be a proportion of the total amount of costs the FCA has estimated it will incur in running the consumer communications campaign highlighting the introduction of the two-year PPI complaints deadline.

(2)

(a)

The FCA will invoice the PPI campaign fee in equal amounts over two years.

(b)

The FCA will invoice the first part of the fee during the month following FEES 3 Annex 10C coming into force and will invoice the second part one calendar year later.

(3)

The FCA will write to each firm that meets the test at FEES 3 Annex 10C(1)R(1) before sending out its first invoice, setting out:

(a)

the number of complaints reported to the FCA under question 17(A) of DISP 1 Annex 1R for that firm from 1 August 2009 up to and including 1 August 2015; and

(b)

the basis on which it has calculated the PPI campaign fee for that firm.

(4)

Any amounts raised that are in excess of the actual cost of the PPI consumer communications campaign will be refunded to fee payers under FEES 3 Annex 10C on a pro rata basis.

(3)

R

References in this annex to question 17A in the complaints return form at DISP 1 Annex 1R are to that question as it existed on 1 August 2015, and to any corresponding question in previous versions of that form.

FEES 3 Annex 11 4Guidance on fees due under FEES 3 Annex 1R, FEES 3 Annex 3R, FEES 3 Annex 8R, FEES 3 Annex 10R, FEES 3.2.7R(p), FEES 3.2.7R(s) and FEES 3.2.7R(ze)

G

3

1 2 4 2 4 2

3Part 1 This Part applies to the following:

(1)

  1. (a) FCA-authorised persons, PRA-authorised persons and persons seeking to become FCA-authorised persons or PRA-authorised persons that pay application fees under FEES 3 Annex 1R, FEES 3 Annex 3R, FEES 3 Annex 8R and FEES 3 Annex 10R; or

  2. (b) a firm seeking a variation of its Part 4A permission which pays an application fee under FEES 3.2.7R(p).

(2) The following table sets out guidance on how a person liable to pay both a fee mentioned in (1) above and also in FEES 3.2.7R(ze) for the same transaction, should expect to be treated.

(A)

The person is liable to pay the fees referred to in (1). However, it may also be liable to pay the Special Project Fee for restructuring set out in FEES 3.2.7R(ze), calculated in accordance with FEES 3 Annex 9. It is possible then for a person to have to pay two types of fees in respect of the same application.

(B)

Where the situation described in (A) arises, the FCA will consider whether to reduce or remit a fee under FEES 2.3 (Relieving Provisions).

3Part 2 The following table sets out guidance on how a firm is liable to pay a fee under both FEES 3.2.7R(s) and FEES 3.2.7R(ze) for the same transaction should expect to be treated.

  1. (1) The transferor in insurance business transfer schemes is liable to pay the fee set out in FEES 3.2.7R(s). However, it may also be liable to pay the Special Project Fee for restructuring set out in FEES 3.2.7R(ze), calculated in accordance with FEES 3 Annex 9. It is possible then for a firm to have to pay two types of fees in respect of the same insurance business transfer scheme.

  2. (2) Where the situation described in (1) arises, the FCA will consider whether to reduce or remit a fee under FEES 2.3 (Relieving Provisions).

FEES 3 Annex 12 Primary market transaction fees9

R

1

Category

Fee payable (£)

A1

0

A2

2,1808

A3

5,4408

A4

16,3108

A5

21,7508

A6

54,3808

For the purposes of FEES 3 Annex 12R:

Category A1 includes:

  1. (a) applying for eligibility for listing of securities under UKLR 179; or

  2. (b) applying for eligibility for listing of miscellaneous securities under UKLR 199; or

  3. (c) applying for eligibility for listing of equity shares where UKLR 5.1.2R(1) or (2) 9applies; or

    3

  4. (ca) [deleted]9

    4

  5. (cb) [deleted]9

    4

  6. (d) [deleted]10

  7. (e) applying for the approval of a material change to the published investment policy of a closed-ended investment fund under UKLR 11.4.14R9; or

  8. (f) [deleted]5; or

  9. (g) applying for the approval of:

    1. (i) a supplementary prospectus; or

    2. (ii) supplementary listing particulars; or

    3. (iii) a securities note; or

    4. (iv) a summary;

Category A2 includes:

  1. (a) applying for the approval of:

    1. (i) a prospectus in relation to non-equity transferable securities; or

    2. (ii) a registration document in relation to non-equity transferable securities; or

    3. (iii) listing particulars in relation to non-equity transferable securities;

  2. (b) where an issuer has a market capitalisation of less than £500 million:

    1. (i) applying for the approval of a prospectus in relation to equity securities; or

    2. (ii) applying for the approval of a registration document in relation to equity securities; or

    3. (iii) applying for the approval of listing particulars in relation to equity securities; or

    4. (iv) [deleted]5;

    5. (v) applying for the approval of a universal registration document;5 or 6

    6. (vi) applying for the approval of a specified exempted document; 6

  3. (c) submitting a circular for approval; or

  4. (d) where an issuer is a closed-ended investment fund:

    1. (i) applying for the approval of a prospectus in relation to equity securities; or

    2. (ii) applying for the approval of a registration document in relation to equity securities; or

    3. (iii) applying for the approval of listing particulars in relation to equity securities; or

    4. (iv) [deleted]5; or

    5. (v) applying for the approval of a universal registration document;6

      5

    6. (vi) applying for the approval of a specified exempted document; or6

  5. (e) [deleted]7

    2

Category A3 includes:

  1. (a) applying for eligibility for listing of equity shares under UKLR 119; or

  2. (b) applying for eligibility for listing of securities9 under UKLR 129; or

    7

  3. (c) applying for approval as a sponsor following a change in legal status;

Category A4 includes:

  1. (a) applying for eligibility for listing of equity shares under UKLR 59; or

  2. (b) applying for eligibility for listing of equity shares9under UKLR 139; or

  3. 9(ba) applying for eligibility for listing of equity shares under UKLR 14; or

  4. (c) applying for eligibility for listing of securities representing certain securities under UKLR 159; or

  5. 9(ca) applying for eligibility for listing of non-equity shares or non-voting equity shares under UKLR 16; or

  6. (d) applying for eligibility for listing of securities under UKLR 189; or

  7. (da) [deleted]9

    4

  8. (db) [deleted]9

    4

  9. (e) applying for the approval of:

    1. (i) a prospectus in relation to equity securities; or

    2. (ii) a registration document in relation to equity securities; or

    3. (iii) listing particulars in relation to equity securities;

  10. (f) ) applying for the approval of a universal registration document5; or

  11. (g) applying for the approval of a document that includes a mineral expert’s report; or

  12. (h) applying for approval as a sponsor; or6

  13. (i) applying for the approval of a specified exempted document;6

Category A5 includes applying for the approval or review of a document in relation to a significant transaction; and

Category A6 includes applying for the approval or review of a document in relation to a super transaction.

Primary information providers (PIPs)10

An application for approval as a primary information provider attracts a fee at Category 7 level as set out in FEES 3 Annex 1AR.10

FEES 3 Annex 14 Other FCA application fees

R

1 Application type

Pricing category in FEES 3 Annex 1AR

Due date

1

Any person seeking an order under section 326(1) of the Act to become a designated professional body

6

30 days after the order is granted

2

Any applicant to be added to the list of designated investment exchanges

9

On or before the date the application is made

3

Any applicant for recognition as an accredited body

4

On or before the date the application is made

4

Any applicant for registration under regulation 14 of the Risk Transformation Regulations as a protected cell company

2

On or before the date the application is made

5

Applications under the benchmarks regulation

(a)

recognition of an administrator in accordance with article 32 of the benchmarks regulation

5

On the date the application is made

(b)

endorsement of a benchmark or family of benchmarks in accordance with article 33 of the benchmarks regulation

3

On the date the application is made

6

Applications under the DRS Regulations2 in relation to MiFID and/or MiFIR and/or MAR

(a)

Application for authorisation under regulation 7 of the DRS Regulations, or the operator of a trading venue seeking verification of their compliance with Title V of MiFID under regulation 8 of the DRS Regulations. The pricing categories in either (a)(i), (ii) or (iii) below apply

(i)

Application to operate one data reporting service, plus 50% of the fee for each additional service applied for

62

On the date the application is made

(ii)

Application to operate more than one data reporting services

50% of 62 for each additional service plus 62

(iii)

Variation of an authorisation under regulation 12 of the DRS Regulations

50% of 62

(b)

Application to connect to the market data processor system to provide reports directly to the FCA under MiFIR, subject to (b)(i) below

7

On the date the application is made

(i)

If a person has previously applied as stated in (d) and had been connected then no further fee is payable for any further applications

(c)

Application to connect to the market data processing system to provide markets data (other than transaction reports) under MAR 10, subject to (c)(i) and (ii) below

6

On the date the application is made

(i)

If a person has previously applied as stated in (c) above and has been connected, then no further fee is payable for any further such applications in relation to reporting the same data

(ii)

If a person has previously applied as stated in (c) above and makes a further application in relation to the provision of different data, then a separate fee is applicable for such an application

Category 6 fee for each application

On the date the application is made

7

An application for registration4 as a third party verifier

3

On the date the application is made

3(8)

(a)

An application for approver permission for the purposes of:

5

On the date the application is made

(i)

section 55NA(3)(a) of the Act (where that application is made by an authorised person); or

(ii)

section 55NA(3)(b) of the Act (where that application is made by an applicant for Part 4A permission that has yet to be determined).

In respect of both the application for Part 4A permission and the application for approver permission, one fee is payable being the higher of:

(i)

5; and

(ii)

the tariff applicable to the application for Part 4A permission set out in FEES 3 Annex 1AR.

(b)

An application to vary an approver permission already granted under section 55NA of the Act, by way of an extension to the scope of that permission for the purposes of section 55NA(5)(a) of the Act.

50% of 5

(c)

An application to:

No charge

(i)

vary an approver permission by way of a reduction in the scope of that permission; or

(ii)

cancel an approver permission,

for the purposes of section 55NA(5)(a) of the Act.

FEES 3 Annex 15 FCA Transaction Fees

R

1 Application type

Pricing category in FEES 3 Annex 1AR

Due date

1

Any applicant for a certificate under article 54 of the Regulated Activities Order

4

On or before the date the application is made

2

A transferor in an insurance business transfer scheme:

(a)

Insurance business transfer scheme involving long-term insurance business

7

On or before the date any application is made for the appointment of a person as an independent expert

(b)

Insurance business transfer scheme not involving long-term insurance business

6

[Note: for the purpose of this charge, an insurance business transfer scheme consists of a single transferor and a single transferee.

Where a scheme is part of a single larger scheme, that larger scheme is treated as a single insurance business transfer scheme. If an insurance business transfer scheme includes more than one transferor, they are liable to pay the fee under column (2) jointly.]

4

Regulated Covered Bonds

(a)

An issuer applying for registration of a regulated covered bond:

(i)

When the assets in the asset pool will consist primarily of UK residential mortgages

7

On or before the date the application is made

(ii)

Any other application for registration

8

(c)

An issuer who proposes to make a material change to the contractual terms of a regulated covered bond under RCB 3.5.4D

5

On or before the date the notification under RCB 3.5.4D is made

5

Validation Orders

Any applicant for FCA permission for an agreement to be enforced under section 28A(3)(a) and/or money paid or property transferred under an agreement to be retained under and agreement to be retained under section 28A(3)(b) of the Act is charged according to the total value of the agreements specified in the application. Payment must be made on or before the application is made.

Value of agreements

Up to £500,000

3

On or before the date the application is made

Above £500,000 - £750,000

4

Above £750,000 - £1,000,000

5

Above £1,000,000-£7,500,000

6

Over £7,500,000

7

26

Applications other than where the applicant is a credit union,3

• in respect of controlled functions under the Senior Managers and Certification Regime (SMCR); or3

• by principalfirms in respect of controlled functions for appointed representatives (CF(AR)), using the Long Form A,3

provided the application [i.e none of the above]3 does not form part of an application for authorisation, variation of permission or registration of an appointed representative.

1

On or before the date the application is made

FEES 3 Annex 16 Fees for an application for variation of permission

R

1The fee relevant to the application is due on or before the date the application is made.

Application type

Applicable pricing category in FEES 3 Annex 1AR

1

Reduction in the scope of the applicant’s permissions and no other increases

N/A

Where the application is to increase permissions:

2

Unless (4)-(11) applies, an application for a variation of Part 4A permission within:

(a)

Fee-blocks A.1, A.3, A.4, A.5

Category 1

(b)

Any other fee-block

Category 2

3

The proposed new business falls within an activity group specified in FEES 4 Annex 1R within which the applicant does not already hold any permission

50% of the highest pricing category relevant to the application

4

The proposed new business falls within an activity group specified in FEES 3 Annex 1R within which the applicant does not already hold any permission

50% of the highest pricing category relevant to the application

5

Credit-related permissions

(a)

Activity group CC1 – any applicant which already holds a limited permission and applies for:

(i)

Another limited permission activity

No fee payable

(ii)

Any other credit-related permission

100% of highest pricing category relevant to the application.

(b)

Activity group CC2 – any applicant which already holds a permission within activity group CC2 and applies for another permission within CC2

50% of the highest pricing category

3

6

Any applicant in activity group A.1 which applies for the permissions of meeting of repayment claims or managing dormant asset funds (including the investment of such funds)2

50% of the highest pricing category relevant to the application

7

Credit union applying to vary its permission for:

(a)

credit-related activity

£50

(b)

any other activity

£75

8

Simple change of legal status (see definition in FEES 3 Annex 1R Part 6)

50% of the highest pricing category relevant to the application

9

Application by MTF operator to become an OTF operator or an OTF operator to become an MTF operator

50% of Category 8

10

Notification of the intention of a regulated benchmark administrator to administer benchmarks additional to those included in its original application for authorisation

0