FEES 5.4 Information requirement

A firm must provide the FCA by the end of February each year (or, if the firm has become subject to the Financial Ombudsman Service part way through the financial year, by the date requested by the FCA) with a statement

of the total amount of relevant business (measured in accordance with the appropriate tariff base(s)) which it conducted, as at or in the year to 31 December of the previous year as appropriate, in relation to the tariff base for each of the relevant industry blocks set out in FEES 5 Annex 1.

7[Note: Transitional provisions apply to FEES 5.4.1R(1) in relation to firms in industry blocks 2 and 4 – see FEES TP 13]

Paragraph (1) does not apply if the firm pays a general levy on a flat fee basis only or if it is the Bank of England.4

If a firm cannot provide a statement of the total amount of relevant business as required by FEES 5.4.1 R, it must provide the best estimate of the amount of relevant business that it conducted.

For the purpose of FEES 5.4.1R, references to relevant business for a firm which falls in industry block 16 or 17 and which so elects under FEES 5 Annex 1, are references to the firm's total amount of annual income reported in accordance with Part 3 of FEES 4 Annex 1A.15

If a firm does not submit a complete statement by the date on which it is due in accordance with this rule and any prescribed submission procedures:

1. (a)

   the firm must pay an administrative fee of 250 (but not if it is already subject to an administrative fee under 15FEES 4 Annex 2A, Part 115, Part 1 or FEES 6.5.16 R for the same financial year); and

2. (b)

   the general levy will be calculated using (where relevant) the valuation or valuations of business applicable to the previous period, multiplied by the factor of 1.10 (or, if a firm has become subject to the Financial Ombudsman Service part way through the financial year, on the basis of the information provided to the 3FCA for the purposes of FEES 4.4.2 R) or on any other reasonable basis, making such adjustments as seem appropriate in subsequent levies once the true figures are known.

   3