MIGI 19.1 Introduction

We are an independent, non-governmental body, which is funded by levies on the financial services industry. We receive no funds from the public purse. Broadly, we use three main types of fee to finance our activities:

1. (1)

   Application fees contribute to the cost of processing applications for authorisation or recognition, or requests for significant variations to the permission of firms that are already authorised.

2. (2)

   Periodic fees are paid annually, to provide most of the funding we require to undertake our statutory functions.

3. (3)

   Special Project fees. These are unlikely to apply to small firms, so they are not covered in this Guide.

This chapter explains more about application fees and periodic fees and how they will apply to your firm.