FEES 4.1 1Introduction
Application
1This chapter applies to every person set out in FEES 1.1.2R (2).
4A reference to firm in this chapter includes a reference to:15
- (1)
- (2)
- (3)
a fee-paying electronic money issuer;14
15 - (4)
a recognised investment exchange; and14
15 - (5)
a data reporting services provider. (other than an incoming data reporting services provider).14
Purpose
Gibraltar-based firms
- (1)
17 In accordance with GEN 2.3 (General saving of the Handbook for Gibraltar), rules or guidance in FEES 4 that immediately before IP completion day applied in relation to or in connection with Gibraltar will continue to apply after IP completion day. The exceptions to this provision are the fee rates set out in Part 1, Part 2, Part 2(a) and Part 2(b) of FEES 4 Annex 2AR and Part 5 of FEES 4 Annex 11R, which may change each fee year.
- (2)
The modifications that will continue to apply to Gibraltar-based firms (as defined in GEN 2.3) are:
Activity group |
Percentage deducted from the tariff payable under FEES 4 Annex 2AR and FEES 4 Annex 11R applicable to the Gibraltar-based firm |
A.1 |
10% |
A.3 |
10% |
A.4 |
10% |
A.7 |
10% |
A.9 |
10% |
A.10 |
10% |
A.13 |
10% |
A.18 |
10% |
A.19 |
50% |
B. MTF and OTF operators |
Not applicable |
AP.0 |
100% |
G.2 |
40% |
G.3 |
40% |
G.10 |
40% |
Note 1 |
The modifications to fee tariffs payable by a Gibraltar-based firm apply only in relation to the relevant regulated activities of the firm which are carried on in the United Kingdom. |
Note 2 |
The FCA minimum fees described in Part 2 of FEES 4 Annex 2AR and Part 5 of FEES 4 Annex 11R apply in full and the modifications in this FEES 4.1.2AR(2) do not apply to them. |
Background
Most of the detail of the periodic fees that are payable by firms is set out in FEES 4 Annexes 1A to 11BR11. FEES 4 Annex 12 G19 4 and 13FEES 4 Annex 13G provide10 guidance on the calculation of certain tariffs.5 Most of the provisions of the Annexes will vary from one fee year19 to another. Accordingly fresh FEES 4 Annexes will come into force, following consultation, for each fee year19.
411191019199- (1)
The periodic fees for collective investment schemes reflect the estimated costs to the FCA of considering proposals to change regulated collective investment schemes, maintaining up to date records about them, and related policy work.
- (2)
[deleted]8
28 - (3)
The periodic fees for fee-paying payment service providers, fee-paying electronic money issuers, CBTL firms, data reporting service providers (other than incoming data reporting services providers14 and issuers of regulated covered bonds 7are set out in FEES 4 Annex 11R12. This annex sets out the activity groups, tariff base, valuation dates and, where applicable, the flat fees due for these firms.
4776121212
The Society of Lloyd's, which has permission, has its own fee block.
18