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  1. Point in time
    2005-07-06

LR App 2.1 Fees and financial penalty income

LR App 2.1.1 R RP

Fee type

Fee amount

Annual fees for the period 1 April 2005 to 31 March 2006

Annual Issuer Fees - all listedissuers of shares, depositary receipts and securitised derivatives.

This fee represents the total annual fee for a listedissuer - 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:

  • the relevant minimum fee; plus
  • the cumulative total of the sums payable for each of the bands calculated by multiplying each relevant tranche of the firm's market capitalisation by the rate indicated for that tranche.

(3) Notwithstanding (2), overseasissuers 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

Issuers of securitised derivatives

£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 securityissuers (including depositary receipts)

£2,500

Category 3

All other vetting only transactions

£2,500

Category 4

Supplementary listing particulars

£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

LR App 2.1.2 G RP

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.