FEES 5.1 Application and Purpose
Application
5A reference to firm in this chapter includes a reference to a fee-paying payment service provider, fee-paying electronic money issuer,9 a CBTL firm, a designated finance platform 10and a designated credit reference agency9.
619718718FEES 5.1.1A R does not apply to 19FEES 5.5B or FEES 5 Annex 2R or Annex 3R unless otherwise stated in rules made by the FOS Ltd.
19Exemption
2A firm will only be exempt from FEES 5.7 for any given financial year if it met the conditions inDISP 1.1.12 R3 on 31 March of the immediately preceding financial year.
3A firm which ceases to be exempt under FEES 5.1.4 R is to be treated, for the purposes of its contribution to the general levy, as a firm to which FEES 5.8 applies.
718Firms which cease to be authorised and therefore subject to the Compulsory Jurisdiction part way through the year will not receive a refund of their general levy except in exceptional circumstances.
14If, after the start of the period to which the general levy relates, a person’s Part 4A permission is cancelled under Schedule 6A or the person’s Part 4A permission is varied reducing its permission under Schedule 6A, the person will not receive a refund of their general levy, except in exceptional circumstances.
Purpose
The purpose of this chapter is to set out the requirements on firms to pay annual fees (through a general levy invoiced and collected by the FCA on behalf of FOS Ltd) and case fees (invoiced and collected directly by FOS Ltd) in order to fund the operation of the Financial Ombudsman Service.This Chapter4 also provides for unauthorised persons to pay case fees to FOS Ltd in respect of any relevant complaints which it handles.
44Gibraltar-based firms
15In accordance with GEN 2.3 (General saving of the Handbook for Gibraltar), provisions in FEES 5 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 amount of annual and case fees payable that are set out in FEES 5 Annex 1R, 5 Annex 2R and 5 Annex 3R, which may change each fee year.