LR App 2.1 Fees and financial penalty income
Fee type |
Fee amount |
Annual fees for the period 1 April 2005 to 31 March 2006 |
|
Annual Issuer Fees - all listed issuers of shares, depositary receipts and securitised derivatives. This fee represents the total annual fee for a listed issuer - no additional annual fee is due under the disclosure rules. |
(1) For all issuers of securitised derivatives, depositary receipts and global depositary receipts the fees payable are set out in Table 1. (2) For all other issuers fees to be determined according to market capitalisation as set out in Table 2. The fee is calculated as follows:
(3) Notwithstanding (2), overseas issuers with a listing of equity securities which is not a primary listing will only pay 80% of the fee otherwise payable under (2). |
Annual Sponsor Fees |
£10,000 |
Annual fees are charged in annual cycles beginning on 1 April of a year and ending on 31 March of the following year. An issuer or sponsor which becomes subject to the listing rules during the course of the financial year must pay a proportion of the annual fee which is calculated in accordance with the following Table 3. |
|
Table 1
Annual fees for issuers of securitised derivatives, depositary receipts and global depositary receipts
Issuer |
Fee amount |
£3,000 |
|
Issuers of depositary receipts and global depositary receipts |
£3,600 |
Table 2
Tiered annual fees for all other issuers
Fee payable |
|
Minimum fee (£) |
3,000 |
£ million of Market Capitalisation |
Fee (£/£m or part £m of Market Capitalisation) |
0 - 100 |
0 |
>100 - 250 |
11.81 |
>250 - 1,000 |
4.72 |
>1,000 - 5,000 |
1.57 |
>5,000 - 25,000 |
0.0295 |
>25,000 |
0.0079 |
Table 3
Quarter in which the issuer/sponsor becomes subject to the Listing Rules |
Proportion payable |
1 July to 30 September inclusive |
75% |
1 October to 31 December inclusive |
50% |
1 January to 31 March inclusive |
25% |
Annex 2
Fee type |
|
Fee amount |
Transaction vetting fees for the period 1 July 2005 to 31 March 2006 Transaction vetting fees relate to specific events or transactions that an issuer might be involved in during the year and fall due when documentation is first submitted to the FSA. |
||
Eligibility |
New applicants |
£1,300 |
Category 1 |
Class 1 transactions |
£5,700 |
Category 2 |
Listing particulars for specialist security issuers (including depositary receipts) |
£2,500 |
Category 3 |
All other vetting only transactions |
£2,500 |
Category 4 |
£500 |
|
Annex 3
Part 1
Fee type |
Fee amount |
Application Fees for the period 1 July 2005 to 31 March 2006 |
|
Application for listing An application fee becomes payable when an issuer makes an application for listing. |
£225 |
Tranches from debt issuance programmes and securitised derivative tranches |
£100 |
An upfront fee is required per tranche for draw downs in the following 12 months. Payment in advance for more than 75 draw downs will attract a 10% discount. |
|
Part 2
Sponsor Application Fees for the period 1 July 2005 to 31 March 2006 |
|
Fee type |
Fee amount |
Application for approval as sponsor An application fee becomes payable when a person applies for approval as a sponsor. |
£4,000 |
Fees from other fee schedules contained in other sections of the sourcebook may be applicable to a single submission. |
Financial penalty income
Section 100 of the Act (Penalties) provides that the FSA must prepare and operate a scheme for ensuring that the amounts paid to it as penalties are applied for the benefit of issuers.
The FSA will allow a permitted deduction from the annual fees of an amount equal to that issuer's share of the amounts paid to the FSA by way of penalties.
The FSA will notify issuers annually of the amount of the permitted deduction for each relevant year.