FEES 3 Annex 1 Authorisation fees payable

R01/10/2018

Part 1 - Authorisation fees payable

For FCA-authorised persons and persons seeking to become FCA-authorised persons, the amount payable to the FCA is the amount payable

under Part 1, (a) below.23

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 and community finance organisations 21;18

(2) application fees in respect of the complexity groupings that relate to regulated activities that are not credit-related regulated activities; and18

(3) application fees in respect of the complexity groupings that relate to credit-related regulated activities.18

9 40 23 23 23 23 18

23Part 1(a) Authorisation Fees payable to the FCA by FCA-authorised persons
18Application type		Amount payable (£)
(1) Community finance organisations 23 21 23
(a) [deleted]23		23
(aa) Community finance organisations 23 21 - where application is for a Part 4A permission limited to permission to carry on credit-related regulated activity 23		200
25(ab) Community finance organisations -27 where application is for a Part 4A permission as a home finance provider or home finance administrator		300
27(ac) Community finance organisations - where application is for limited permission		(i) 100 if consumer credit annual income is between £0 – £50,000; and (ii) 200 if consumer credit annual income is more than £50,000
(b) [deleted]23 23		23
(c) [deleted]23 23		23
(2) Complexity groupings not relating to credit-related regulated activities - see Part 2
(d) Straightforward		1,500 (unless otherwise specified in Part 2)
(e) Moderately complex		5,000 (unless otherwise specified in Part 2)
(f) Complex		25,000
(3) Complexity groupings relating to credit-related regulated activity - see Part 3
	Consumer credit annual income (£)
	0 - 50,000			> 50,000
(g) Limited permission	100 unless the application is for limited permission as a not-for-profit debt advice body, in which case the amount payable is 0			500 unless the application is for limited permission as a not-for-profit debt advice body, in which case the amount payable is 0
	Consumer credit annual income (£)
	0 -50,000	> 50,000 - 100,000	> 100,000 - 250,000	> 250,000 - 1,000,000	> 1,000,000
(h) Straightforward	600	750	1,000	1,500	5,000
(i) Moderately complex	800	1,000	1,500	5,000	10,000
(j) Complex	1,000	1,250	2,000	7,000	15,000

23Part 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 unions 25(other than where (aa) applies)		150
(c) [deleted]25		25
(2) Complexity groupings not relating to credit-related regulated activities - see Part 2
(d) Straightforward		750 (unless otherwise specified in Part 2)
(e) Moderately complex		2,500 (unless otherwise specified in Part 2)
(f) Complex		12,500
(3) Complexity groupings relating to credit-related regulated activity - see Part 3
	Consumer credit annual income (£)
	0 - 50,000			> 50,000
(g) Limited permission	50 unless the application is for limited permission as a not-for-profit debt advice body, in which case the amount payable is 0			250 unless the application is for limited permission as a not-for-profit debt advice body, in which case the amount payable is 0
	Consumer credit annual income (£)
	0 -50,000	> 50,000 - 100,000	> 100,000 - 250,000	> 250,000 - 1,000,000	> 1,000,000
(h) Straightforward	300	375	500	750	2,500
(i) Moderately complex	400	500	750	2,500	5,000
(j) Complex	500	625	1,000	3,500	7,500

Part 2 – Complexity groupings26 not relating to credit-regulated activities 26

Straightforward cases29

18 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.13	Advisors,20 arrangers, dealers or brokers 20 20
A.14	Corporate finance advisers
A.181	Home finance providers 4, advisers and arrangers (excluding home finance providers 4).1 4 4 9 12 11
A.191	General insurance distribution28 1
19A.21	Holding client money or assets or both.
29B.	Regulated benchmark administrators where the applicant intends to administer a non-significant benchmark

Moderately Complex Cases

Moderately complex cases
Activity grouping	Description
[deleted]13 13	[deleted]13 13
A.21	Home finance providers 4 and administrators.1 4 9 12 11
5A.3	UK ISPVs
A.48[deleted]8	[deleted]8 8
A.5	Managing agents at Lloyd's
A.7	Portfolio managers17 17
A.9	Managers and depositaries of investment funds, and operators of collective investment schemes or pension schemes17 17 17
A.10	Firms dealing as principal, except to the extent the firm is bidding in emissions auctions 16
B.	Service companies
29B.	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.

Complex Cases29

Complex cases
Activity grouping	Description
A.1	Deposit acceptors (excluding e-money issuers and credit unions) and dormant account fund operators 10
A.3	Insurers - general (excluding friendly societies and UK ISPVs5)
A.4	Insurers - life (excluding friendly societies) 8
6B	MTF operators and OTF operators26
29B.	Regulated benchmark administrators where the applicant intends to administer a critical benchmark

Part 3 - Complexity Groupings relating to credit-related regulated activity 18

Straightforward cases18

Activity grouping18

Description

CC.2

Credit broking;

Providing credit information services;

Advising on regulated credit agreements for the acquisition of land 22

Moderately complex cases18

Activity grouping18

Description

CC.2

Debt administration

Debt collecting

Entering into a regulated consumer hire agreement as owner

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)

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

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)

Operating an electronic system in relation to lending

Complex cases18

18Activity grouping

Description

CC.2

Debt adjusting

Debt counselling

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

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

Providing credit references

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 4A permission.

41 23

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 4A permission.

41 23

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

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 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,14 7 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 Regulations 14 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 services 7 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 activity 28 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 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.

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FEES 3 Annex 1 Authorisation fees payable