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Status: You are viewing the version of the handbook as on 2012-12-13.

FEES 3 Annex 1 Authorisation fees payable

R

Part 1 - Authorisation fees payable

9

Application type (see Part 2)

Amount payable

(a) Credit unions - registration of common bond

200

(b) Version 1 credit unions - authorisation

300

(c) Version 2 credit unions - authorisation

1,800

(d) Straightforward

1,500 (unless otherwise specified in Part 2)9

(e) Moderately complex

5,000 (unless otherwise specified in Part 2)9

(f) Complex

25,000

Part 2 - Complexity Groupings Straightforward Cases

9

Straightforward cases

Activity grouping

Description

A.3

Friendly societies only

A.4

Friendly societies only16

16A.10

A firm to the extent it is bidding in emissions auctions

A.12

Advisory arrangers, dealers or brokers (holding or controlling client money and/or assets)

A.13

Advisory only firms and advisory arrangers, dealers or brokers (not holding or controlling client money and/or assets)

A.14

Corporate finance advisers

A.181

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

4491211

A.191

General insurance mediation1

Moderately Complex Cases

9

Moderately complex cases

Activity grouping

Description

[deleted]13

13

[deleted]13

13

A.21

Home finance providers4 and administrators.1

491211

5A.3

UK ISPVs

[deleted]8

8

[deleted]8

8

A.5

Managing agents at Lloyd's

A.7

Fund managers

A.9

Operators, trustees and depositaries of , operators of personal pension schemes and operators of stakeholder pension schemes3

A.10

Firms dealing as principal, except to the extent the firm is bidding in emissions auctions16

B.

Service companies

Complex Cases R

Complex cases

Activity grouping

Description

A.1

Deposit acceptors (excluding e-money issuers and credit unions) and dormant account fund operators10

A.3

Insurers - general (excluding friendly societies and UK ISPVs5)

A.4

Insurers - life (excluding friendly societies)

8

6B

MTF operators

Part 4 - Authorisation Fees for Treaty Firms R

If the Treaty firm wishes to undertake the permitted activities in question through its branch in the United Kingdom, the fee is 50% of the fee that would be payable under FEES 3.2.7 R for an applicant for Part IV permission.

If the Treaty firm wishes to undertake the permitted activities in question by providing services in the United Kingdom, the fee is 25% of the fee which would be payable under FEES 3.2.7 R for an applicant for Part IV permission.

Part 5 - Activity Groupings R

The activity group definitions are set out in FEES 4 Annex 1R2

2

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),14 FEES 3.2.7R (za)7, FEES 3.2.7 R (zg) and FEES 3.2.7 R (zh)14 is from an applicant:

2

(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 IV 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 Regulations14 7and the same branches (if any), as the firm;

(b) assume all of the rights and obligations in connection with any of14 the regulated activities,14 payment 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 mediation activity 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 3.2.7 R(j) 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 FSA 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 LR 8 (Sponsors: Premium listing);

(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 LR 8.6.5 R.