FEES 3 Annex 15 FCA Transaction Fees

1

Any applicant for a certificate under article4 54 of the Regulated Activities Order

Category4 4

On or before the date the application is made

2

A transferor4 in an insurance business transfer scheme:

(a)

Insurance business transfer scheme involving long-term insurance business

Category4 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

Category4 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

Category4 7

On or before the date the application is made

(ii)

Any other application for registration

Category4 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

Category4 5

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

5

Validation Orders4

Any applicant for a validation order is charged an application fee and a validation order project fee4.

4

4

4

4

4

4

Validation order application fee4

Number of VO-related third parties4

0 - 1 (ie, including applications without reference to any VO-related third party but where the applicant was unauthorised themselves)4

£1,000

On or before the date the application is made4

2 - 34

£2,500

4 - 104

£5,000

11 or more4

£7,500

Validation order project fee4

The validation order project fee covers the FCA’s regulatory work in assessing the application and any fees and disbursements invoiced to the FCA by any person in respect of services performed to assist the FCA in performing the regulatory work.4

The validation order project fee is determined in line with FEES 3 Annex 9(9)R-(11)R, but FEES 3 Annex 9(9)R(a) applies with the modification that the reference to number of hours or part hours relates to the FCA’s regulatory work in assessing the validation order application.4

Before starting the validation order assessment, the FCA will provide a non-binding estimate of the validation order project fee to the applicant. If an application is withdrawn before conclusion of the matter, the applicant is only liable for the validation order project fee incurred up to the point of withdrawal.4

Within 30 days of the date of any invoices issued by the FCA

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 principal firms 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.

Category4 1

On or before the date the application is made