Related provisions for SUP 10C.15.9
Table
This table belongs to IPRU (INV) 1.2.4R
Chapters 1 and 2 |
|
Securities and futures firm (which is not a MiFID investment firm) |
Chapters 1 and 3 |
Securities and futures firm (which is an exempt BIPRU commodities firm or an exempt IFPRU commodities firm) |
Chapters 1 and 3 |
The Society of Lloyd's (in relation to underwriting agents) and members' advisers |
Chapters 1 and 4 |
Chapters 1 and 5 |
|
An exempt CAD firm or a local firm |
Chapters 1 and 9 |
Chapters 1 and 6 |
|
Chapters 1 and 11 |
|
Chapters 1 and 11 |
|
Chapters 1 and 13 |
|
Credit union which is a CTF provider |
Chapters 1 and 8 |
Table: FCA-approved persons forms
Form |
Purpose |
Handbook requirement |
|
the relevant Form A |
The relevant online form on the FCA and PRA'sonline notification and application system3 or the form in SUP 10A Annex 4D (See Note) 11 |
Application to perform controlled functions under the approved persons regime |
|
Form B |
Notice to withdraw an application to perform controlled functions under the approved persons regime |
||
Form C |
Notice of ceasing to perform controlled functions |
||
Form D |
Notification of changes in personal information or application details |
||
Form E |
The relevant online form on the FCA and PRA'sonline notification and application system3 system or the form in SUP 10A Annex 8D (See Note) 11 |
Internal transfer of an approved person |
|
Note: The form in the SUP annex shown is to be used by credit unions, and by other firms only in the event of a failure of the information technology systems used by the FCA. See the relevant "Handbook requirement" |
Application of different sections of SUP 16 (excluding49 SUP 16.13, SUP 16.15, SUP 16.16 and SUP 16.17) 426639and SUP 16.2239)27
(1) Section(s) |
(2) Categories of firm to which section applies |
(3) Applicable rules and guidance |
|||
All categories of firm except: |
Entire sections |
||||
(a) |
an ICVC; |
||||
(b) |
an incoming EEA firm or incoming Treaty firm, which is not: |
||||
(i) |
a firm of a type to which SUP 16.6 or 20SUP 16.1220 applies; or |
||||
(ii) |
an insurer with permission to effect or carry out life policies49; orcarry outlife policies; or |
||||
(iii)3 |
a with to establish, operate or wind up a stakeholder pension scheme;14a firm with permission to establish, operate or wind up a personal pension scheme or a stakeholder pension scheme;14 or39 |
||||
39(iv) |
a payment service provider to which SUP 16.22 applies; and |
||||
(c) |
|||||
All categories of firm except: |
Entire sections |
||||
(-a) |
|||||
(a) |
an ICVC; |
||||
(b) |
|||||
(c) |
|||||
(d) |
|||||
(e)4 |
[deleted]4 |
||||
(f) |
a sole trader; |
||||
(g) |
|||||
(h) |
8 | ||||
(i)8 |
a firm with permission to carry on only retail investment activities;8 |
8 | |||
(ia)38 |
a firm with permission only to advise on P2P agreements (unless that activity is carried on exclusively with or for professional clients);38 |
||||
(j)8 |
a firm with permission to carry on only insurance mediation activity, home finance mediation activity,16 or both;8 16 |
8 | |||
(ja)30 |
an FCA-authorised person with permission to carry on only credit-related regulated activity; |
||||
(k)8 |
a firm falling within a combination of (i), (ia),38 (j) and (ja). 30 30 |
8 | |||
27 | |||||
2628 | |||||
28 | 28 | ||||
Depositary of an authorised fund41 |
|||||
A firm subject to the requirement in SUP 16.7A.3 R or SUP 16.7A.5 R |
Sections as relevant |
||||
Insurer with permission to effect or carry out life policies, unless it is a non-directive friendly society3 |
Entire section |
||||
3Firm with permission to establish, operate or wind up a personal pension scheme or a stakeholder pension scheme14 14 |
Entire section3 |
||||
Firm with permission to advise on investments; arrange (bring about) deals in investments; make arrangements with a view to transactions in investments; or arrange safeguarding and administration of assets5 |
Entire section5 |
||||
Entire section9 |
9
|||||
(a)9 |
9 | ||||
(b)9 |
a UCITS qualifier; 21and42 |
9 | |||
(c)9 |
[deleted]42 219 |
9 | |||
21(d) |
|||||
(1) |
A firm, other than a managing agent, which is: |
||||
(a) |
a home finance provider; or |
Entire section |
|||
(b) |
an insurer; or |
Entire section |
|||
(c) |
the operator of a regulated collective investment scheme or an investment trust savings scheme; or |
Entire section |
|||
(d) |
a person who issues or manages the relevant assets of the issuer of a structured capital-at-risk product; or |
Entire section |
|||
(e) |
a firm with permission to enter into a regulated credit agreement as lender in respect of high-cost short-term credit or home credit loan agreements; or |
||||
(2) |
a firm in whom the rights and obligations of the lender under a regulated mortgage contract are vested. |
The provisions governing performance data reports in SUP 16.11 and SUP 16 Annex 21 |
|||
A firm undertaking the regulated activities as listed in SUP 16.12.4 R, unless exempted in SUP 16.12.1 G |
Sections as relevant to regulated activities as listed in SUP 16.12.4 R23 |
||||
A CASS large firm and a CASS medium firm |
Entire section29 |
||||
An IFPRU 730k firm and a qualifying parent undertaking that is required to send a recovery plan, a group recovery plan or information for a resolution plan to the FCA. |
Entire Section |
||||
A firm subject to the Money Laundering Regulations and within the scope of SUP 16.23.1R |
Entire Section |
||||
27Note 2 = The application of SUP 16.13 is set out under SUP 16.13.1 G;66 the application of SUP 16.15 is set out under SUP 16.15.1 G; the application of SUP 16.16 is set out SUP 16.16.1 R and SUP 16.16.2 R and the application of SUP 16.17 is set out in SUP 16.17.3 R and SUP 16.17.4 R66. 66 |
|||||
29Note 3 = The application of SUP 16.18 for the types of AIFMs specified in SUP 16.1.1C G is set out in SUP 16.18.2 G. |
Table: FCA-prescribed senior management responsibilities
FCA-prescribed senior management responsibility |
Explanation |
Equivalent PRA-prescribed senior management responsibility |
Part One (applies to all firms) |
||
(1) Responsibility for the firm's performance of its obligations under the senior management regime |
The senior management regime means the requirements of the regulatory system applying to relevant authorised persons insofar as they relate to SMF managers performing designated senior management functions, including SUP 10C (FCA senior management regime for approved persons in relevant authorised persons). This responsibility includes: (1) compliance with conditions and time limits on approval; (2) compliance with the requirements about the statements of responsibilities (but not the allocation of responsibilities recorded in them);4 (3) compliance by the firm with its obligations under section 60A of the Act (Vetting of candidates by relevant authorised persons); and4 4(4) compliance by the firm with the requirements in SYSC 22 (Regulatory references) so far as they relate to the senior management regime, including the giving of references to another firm about an SMF manager or former SMF manager. |
|
(2) Responsibility for the firm's performance of its obligations under the employee certification regime |
The employee certification regime means the requirements of sections 63E and 63F of the Act (Certification of employees) and all other requirements of the regulatory system about the matters dealt with in those sections, including:4 4(1) SYSC 5.2 (Certification Regime); 4(2) the requirements in SYSC 22 (Regulatory references) so far as they relate to the employee certification regime, including the giving of references to another firm about a certification employee or former certification employee; and |
|
(3) Responsibility for compliance with the requirements of the regulatory system about the management responsibilities map |
This responsibility does not include allocating responsibilities recorded in it |
|
(4) Overall responsibility for the firm's policies and procedures for countering the risk that the firm might be used to further financial crime |
(1)2 This includes the function in SYSC 6.3.8R (firm must allocate to a director or senior manager overall responsibility within the firm for the establishment and maintenance of effective anti-money laundering systems and controls), if that rule applies to the firm. (2)2 The firm may allocate this FCA-prescribed senior management responsibility to the MLRO but does not have to. (3)2 If the firm does not allocate this FCA-prescribed senior management responsibility to the MLRO, this FCA-prescribed senior management responsibility includes responsibility for supervision of the MLRO. |
None |
2(4A) Acting as the firm’swhistleblowers’ champion |
The whistleblowers’ champion’s allocated responsibilities are set out in SYSC 18.4.4R |
|
Part Two (applies to all firms except for small CRR firms and credit unions) |
||
(5) Responsibility for: (a) leading the development of; and (b) monitoring the effective implementation of; policies and procedures for the induction, training and professional development of all members of the firm'sgoverning body. |
||
(6) Responsibility for monitoring the effective implementation of policies and procedures for the induction, training and professional development of all persons performing designated senior management functions on behalf of the firm other than members of the governing body. |
||
(7) Responsibility for: (a) safeguarding the independence of; and (b) oversight of the performance of; the internal audit function, in accordance with SYSC 6.2 (Internal Audit) or article 24 of the MiFID Org Regulation.5 |
This responsibility includes responsibility for: (a) safeguarding the independence of; and (b) oversight of the performance of; a person approved to perform the PRA's Head of Internal Audit designated senior management function for the firm. |
|
(8) Responsibility for: (a) safeguarding the independence of; and (b) oversight of the performance of; the compliance function in accordance with SYSC 6.1 (Compliance) or article 22 of the MiFID Org Regulation5. |
This responsibility includes responsibility for: (a) safeguarding the independence of; and (b) oversight of the performance of; the person performing the compliance oversight function for the firm. |
|
(9) Responsibility for: (a) safeguarding the independence of; and (b) oversight of the performance of; the risk function, in accordance with SYSC 7.1.21R and SYSC 7.1.22R (Risk control). |
This responsibility includes responsibility for: (a) safeguarding the independence of; and (b) oversight of the performance of; a person approved to perform the PRA's Chief Risk designated senior management function for the firm. |
|
(10) Responsibility for overseeing the development of and implementation of the firm's remuneration policies and practices in accordance with SYSC 19D (Remuneration Code) |
||
Part Three (applies in specified circumstances) |
||
(11) Overall responsibility for the firm's compliance with CASS |
(A) This responsibility only applies to a firm to which CASS applies. (B) A firm may include in this FCA-prescribed senior management responsibility whichever of the following functions apply to the firm: (a) CASS 1A.3.1R (certain CASS compliance functions for a CASS small firm); (b) CASS 1A.3.1AR (certain CASS compliance functions for a CASS medium firm or a CASS large firm); (c) CASS 11.3.1R (certain CASS compliance functions for certain CASS small debt management firms); or (d) CASS 11.3.4R (certain CASS compliance functions for a CASS large debt management firm); but it does not have to. (C) If the firm does not include the functions in (B) in this FCA-prescribed senior management responsibility, this FCA-prescribed senior management responsibility includes responsibility for supervision of the person performing the functions in (B) that apply to the firm. |
None |
Allocation of overall responsibility for a firm’s activities, business areas and management functions
Table of application, notification, vetting and other fees payable to the FCA32
31Part 1: Application, notification and vetting fees |
||
31(1) Fee payer |
(2) Fee payable (£)37 |
Due date |
(a) Any applicant for Part 4A permission (including an incoming firm applying for top-up permission) whose fee is not payable pursuant to sub- paragraph (ga) of this table26 |
(1) Unless (2),41 (3) or (4)41 applies, in1 respect of a particular application, the highest of the tariffs set out in FEES 3 Annex 1 part 11 which apply to that application. When both (A) and (B) apply, 50% of the tariff payable under (1):34 (2) 50% of the tariff payable under (1) is payable when either (a) or (b) apply: (a) the application is one referred to in paragraph p; or (b) the application is a limited permission case under . (A) the application only involves a simple change of legal status as set out in FEES 3 Annex 1 part 6; and34 (B) the application is:34 (i) a straightforward case under paragraph 2(d) or 3(g) of FEES 3 Annex 1; (ii) a moderately complex case under paragraph 2(e) or 3(h) of FEES 3 Annex 1; or (iii) a limited permission case under paragraph 3(i) of FEES 3 Annex 1. (3) If the applicant applies for registration under article 8(1) of the MCD Order at the same time as applying for a Part 4A permission, the fee payable is the higher of: 78 (i) the fee otherwise payable in (1) or (2); and 78 (ii) the fee payable in FEES 3 Annex 10AR. 78 (4) No fee is payable if the applicant satisfies the criteria set out in FEES 4 Annex 2BR(5)(a).41 17834343434 |
On or before the application is made |
(aa) A person who makes an application under section 24A of the Consumer Credit Act 1974 which meets the conditions of article 31 (Applications for a standard licence where no determination made before 1 April 2014) of the Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) (No 2) Order 2013 (the “relevant application”)30 |
As (a) above less any amount paid to the Office of Fair Trading in relation to the relevant application. |
Within 30 days of the date of the invoice. |
(b) Any Treaty firm that wishes to exercise a Treaty right to qualify for authorisation under Schedule 4 to the Act (Treaty rights) in respect of regulated activities for which it does not have an EEA right, except for a firm providing cross border services only4 |
(1) Where no certificate has been issued under paragraph 3(4) of Schedule 4 to the Act the fee payable is, in respect of a particular exercise, set out in FEES 3 Annex 1, part 4 (2) Where a certificate in (i) has been issued no fee is payable |
On or before the notice of exercise is given |
(c) Any applicant for a certificate under article 54 of the Regulated Activities Order |
2,000 |
On or before the application is made |
(d) Applicants for an authorisation order for, or recognition under section 272 of the Act27 of, a collective investment scheme |
FEES 3 Annex 2R, part 227 27 |
On or before the application is made |
(da) Applicants for the authorisation of an AIF as a UK ELTIF36 |
FEES 3 Annex 2R, part 2A36 |
On or before the date the application is made36 |
(e) The management company27 of a scheme making a notification under section 264 of the Act 2727 |
FEES 3 Annex 2R, part 327 27 |
On or before the date the application is made28 |
28(ea) (i) An AIFM (other than a UK AIFM or an EEA AIFM with a branch in the UK) notifying the FCA of its intention to market an AIF in the UK under regulation 57 of the AIFMD UK regulation (ii) An AIFM notifying the FCA of its intention to market an AIF in the UK under regulation 58 or 59 of the AIFMD UK regulation |
FEES 3 Annex 2 R, part 4 |
On or before the date the notification is made |
28(eb) An applicant for registration on the register of small registered UK AIFM which the FCA is required to maintain under regulation 10 of the AIFMD UK regulation |
£750 |
On or before the date the application is made |
(f) Any person seeking an order under section 326(1) of the Act to become a designated professional body. |
10,000 |
30 days after the order is granted |
(g) Any applicant for recognition as a UK recognised body:17 (i) under section 287 of the Act; or17 (ii) under regulation 2(1) of the RAP regulations17 76 |
FEES 3 Annex 3, part 1 |
On or before the date the application is made26 |
26(ga) Any applicant for: (i) a Part 4A permission to carry out the regulated activity of administering a specified benchmark; or35administering a specified benchmark for one or more specified benchmarks or;35 (ii) varying its Part 4A permission to carry out the regulated activity of administering a specified benchmark for one or more specified benchmarks35 |
FEES 3 Annex 3, part 1 |
On or before the date the application is made |
(h) Any applicant for recognition as an ROIE76 under section 287 or section 292 of the Act 7676 |
FEES 3 Annex 3, part 2 |
On or before the date the application is made |
(i) [deleted]35 35 |
35 | 35 |
(j) [deleted]38 |
||
(k) [deleted]35 35 |
35 | 35 |
(l) [deleted]38 |
72 | |
(m) [deleted]38 |
72 | |
(n) Applicants to be added to the list of designated investment exchanges |
50,000 |
On or before the date the application is made |
2(o) In relation to a BIPRU firm, either:29 (i) a firm applying to the FCA29 for permission to use one of the advanced prudential calculation approaches listed in FEES 3 Annex 6 R (or guidance on its availability), including any future proposed amendments to those approaches or (in the case of any application being made for such permission to the FCA29 as EEA consolidated supervisor under the (transposing parts of the BCD and CAD, as applicable under article 95(2) of the EUCRR29)) any firm making such an application ;5 or (ii) in the case of an application to 5a Home State regulator other than the FCA295for the use of the Internal Ratings Based approach and the Home State regulator requesting the FCA's29 assistance in accordance with the Capital Requirements Regulations 2006 (transposing parts of the BCD and CAD, as applicable under article 95(2) of the EUCRR29), any firm to which the FCA29 would have to apply any decision to permit the use of that approach.5 1122957629576295762976297629 |
(1) Unless5 (2) applies, FEES 3 Annex 6.5 (2) (a) Unless5 (b) applies a1firm submitting a second application for the permission or5guidance described in column (1) within 12 months of the first application (where the fee was paid in accordance with (1)) must pay 50% of the fee applicable to it under FEES 3 Annex 6, but only in respect of that second application (b) No fee is payable by a firm in relation to a successful application for a permission5 based on a minded to grant decision in respect of the same matter following a complete application for guidance in accordance with prescribed submission requirements.1 (c) No fee is payable where the Home State regulator has requested the assistance described in paragraph (o)(ii) of column 1 except in the cases specified in 5FEES 3 Annex 6.2 52512555765765 |
Where the firm has made an application directly to the FCA29, on or before the date the application is made, otherwise within 30 days after the FCA29 notifies the firm that its EEA parent's Home State regulator has requested assistance.229 27629762976 |
29(oa) Either: (i) a firm applying to the 37FCA for permission to use one of the internal approaches listed in FEES 3 Annex 6A (or guidance on its availability), including any future proposed amendments to those approaches or (in the case of any application being made for such permission to the 37FCA as consolidating supervisor under the EU CRR) any firm making such an application; or (ii) in the case of an application to the consolidating supervisor other than the 37FCA for the use of the IRB approach and the consolidating supervisor requesting the 37FCA's assistance in accordance with the EU CRR, any firm to which the 37FCA would have to apply any decision to permit the use of that approach. 3737373737 |
(1) Unless (2) applies, FEES 3 Annex 6A. (2) (a) Unless (b) applies a firm submitting a second application for the permission or guidance described in column (1) within 12 months of the first application (where the fee was paid in accordance with (1)) must pay 50% of the fee applicable to it under FEES 3 Annex 6A, but only in respect of that second application. (b) No fee is payable by a firm in relation to a successful application for a permission based on a minded to grant decision in respect of the same matter following a complete application for guidance in accordance with prescribed submission requirements. (c) No fee is payable where the consolidating supervisor has requested the assistance described in paragraph (oa)(ii) of column 1. 37 |
Where the firm has made an application directly to the 37FCA , on or before the date the application is made, otherwise within 30 days after the 37FCA notifies the firm that its EEA parent's consolidating supervisor has requested assistance. 3737 |
(p) A firm applying for a variation of its Part 4A permission whose fee is not payable pursuant to sub- paragraph (ga) of this table26 |
(1) Unless (2), (2A), (3), (3A), (3B), (3C), (3D) or 3(E)44 applies, if the proposed new1 business of the firm would1 fall within one or more activity groups specified in Part 1 of FEES 4 Annex 1AR not applicable before the application1, the fee is 50% of the highest of the tariffs set out in FEES 3 Annex 1R37 which apply to that application. (2) Subject to (2A) below, if the firm's application includes an application for a Part 4A permission to carry on a new credit-related regulated activity, the fee is 50% of the highest of the tariffs set out in FEES 3 Annex 1R37 that would be payable under (1) above or, if higher, 50% of the highest of the tariffs set out in FEES 3 Annex 1R37 that would be payable in relation to the new credit-related regulated activity30.37 (2A) If an applicant which already has a Part 4A permission to carry on a credit-related regulated activity exclusively applies for a Part 4A permission to carry on a new credit-related regulated activity, that is specified in Part 3 of FEES 3 Annex 1R37 in the straightforward category (or if it exclusively applies for a number of such permissions), the fee is £25030.37 (3) If the firm is in the A.1 fee-block at the date of the application and the variation involves adding any of the regulated activities of meeting of repayment claims or managing dormant account funds (including the investment of such funds), the fee is 50% of the fee in FEES 3 Annex 1 R that applies to that application11 (3A) If the applicant had a limited permission prior to the application to vary its Part 4A permission, 100% of the highest of the tariffs set out in FEES 3 Annex 1R37 which apply to that application30.37 (3B) If the applicant has a limited permission and its application exclusively relates to another limited permission, the fee is 030 (3C) If the applicant applies for registration under article 8(1) of the MCD Order at the same time as it applies for a variation of its Part 4A permission, the fee is the highest of the fees set out in FEES 3 Annex 10AR and the amount otherwise payable in (1), (2), (2A), (3), (3A) or (3B), or (4).78 (3D) No fee is payable if the applicant satisfies the criteria set out in FEES 4 Annex 2BR(5)(a).41 (4) 11 In all other cases, other than applications by credit unions, the fee payable is 250 for firms which are not, or are not seeking to become, a PRA-authorised person, and 125 for firms which are, or are seeking to become, a PRA-authorised person,76 unless the variation involves only the reduction (and no other increases) in the scope of a Part 4A permission in which case no fee is payable.1 (3E) The fee is 12,500 if the firm applying:44 (i) is an MTF operator and the proposed new business of the firm is to be an OTF operator; or44 (ii) is an OTF operator and the proposed new business of the firm is to be an MTF operator.44 307841307878176763776377878371373030233737371137 |
On or before the date the application is made |
30(pa) A person who makes an application under section 30(1) of the Consumer Credit Act 1974 which meets the conditions of article 33 (Variations at request of licensee where no determination made before 1 April 2014) of the Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) (No 2) Order 2013 (the “relevant variation application”) |
As (a) or 31(p) above, less any amount paid to the Office of Fair Trading in relation to the relevant variation application. |
Within 30 days of the date of the invoice. |
77137713777722227 | 333 | |
66 | 566 | |
5(s) In the case of an insurance business transfer scheme, a transferor. Note - for the purpose of this paragraph an insurance business transfer scheme consists of a single transferor and a single transferee. Where however such a scheme is part of a single larger scheme, that larger scheme is treated as a single insurance business transfer scheme. If an insurance business transfer scheme includes more than one transferor in accordance with this paragraph, the transferors are liable to pay the fee under column (2) jointly. |
Either (1) or (2) as set out below: (1) In the case of an insurance business transfer scheme involving long term insurance business, 9,25037; or (2) in the case of an insurance business transfer scheme not involving long term insurance business, 5,000. 7575377575377537 |
On or before any application is made for the appointment of a person as an independent expert. 37 |
20 | ||
(u) [deleted]34 34 |
34 | 34 |
(v) [deleted]38 2222 |
||
[deleted]35 35 |
35 | 35 |
(x)[deleted]38 |
||
8(y) An applicant for authorisation as an authorised payment institution under regulation 5 of the Payment Services Regulations |
The highest of the tariffs set out in FEES 3 Annex 8 which apply to that application. Where an application only involves a simple change of legal status as set out in FEES 3 Annex 1 Part 6, the fee payable is 50% of the tariff that would otherwise be payable in FEES 3 Annex 8R.47 |
On or before the date the application is made. |
47(ya) An applicant for registration as an account information service provider under regulation 17 of the Payment Services Regulations. |
47FEES 3 Annex 8R, paragraph (2)(i). Where an application only involves a simple change of legal status as set out in FEES 3 Annex 1 Part 6, the fee payable is 50% of the tariff that would otherwise be payable in FEES 3 Annex 8R. |
47On or before the date the application is made. |
(z) An application by a small payment institution for authorisation as an authorised payment institution because regulation 16 47 of the Payment Services Regulations applies |
The highest of the tariffs set out in FEES 3 Annex 8R which apply to that application. |
On or before the date the application is made. |
(za) An applicant for registration as a small payment institution under regulation 13 47 of the Payment Services Regulations |
FEES 3 Annex 8R, paragraph (1). Where an application only involves a simple change of legal status as set out in FEES 3 Annex 1 R Part 6, the fee payable is 50% of the tariff that would otherwise be payable in FEES 3 Annex 8R. |
On or before the date the application is made. |
(zb) An authorised payment institution applying to vary its authorisation under regulation 5 47 of the Payment Services Regulations. |
(1) If50 prior to the variation the authorised payment institution is authorised to carry on any one or more of the payment services falling50 within paragraph (f), 47 (g) or (h) of Part 1 of Schedule 1 to the Payment Services Regulations and the authorised payment institution is applying to extend its authorisation to include any one or more of the payment services in (a) to (e)50, the fee is 50% of the highest of the tariffs set out in FEES 3 Annex 8R which apply to that application. (2) Where the authorised payment institution50 already has authorisation to provide payment services within any one or more of paragraphs (a) to (e) of Part 1 of Schedule 1 to the Payment Services Regulations and wishes to add one or more other services in (a) to (f);50 the fee payable is £47250 irrespective of the number of agents it has. 50(3) Where the authorised payment institution already has authorisation to provide payment services within any one or more of paragraphs (a) to (f) of Part 1 of Schedule 1 to the Payment Services Regulations and wishes to add one or both of the services in (g) and (h) the fee payable is £750, irrespective of the number of agents it has. (4)50 In cases where the variation involves only the reduction (and no increases) of the types of payment services to be carried on after the variation, no fee is payable. 4747474747 |
On or before the date the application is made. |
(zc) A small payment institution applying to vary its registration under regulation 13 47 of the Payment Services Regulations |
(1)The 47 fee is 50% of the tariff 47set out in FEES 3 Annex 8R, paragraph (1). 47 (2) 47 In cases where the variation involves only the reduction (and no increases) of the types of payment services to be carried on after the variation, no fee is payable. 4747 |
On or before the date the application is made. |
(zd) 47 |
47 | [deleted]47 |
(ze) Any person to which the Special Project Fee for restructuring applies under FEES 3 Annex 9.12 12 |
Special Project Fee for restructuring in accordance with FEES 3 Annex 9 . |
|
(zf) [deleted]76 76 |
76 | 91676 |
16(zg) An applicant for authorisation as an authorised electronic money institution under regulation 5 of the Electronic Money Regulations. |
The amount set out in FEES 3 Annex 10 R. Where an application only involves a simple change of legal status as set out in FEES 3 Annex 1 R Part 6, the fee payable is 50% of the tariff that would otherwise be payable in FEES 3 Annex 10 R. |
On or before the date the application is made. |
16(zh) An applicant for registration as a small electronic money institution under regulation 12 of the Electronic Money Regulations. |
The amount set out in FEES 3 Annex 10 R. Where an application only involves a simple change of legal status as set out in FEES 3 Annex 1 R Part 6, the fee payable is 50% of the tariff that would otherwise be payable in FEES 3 Annex 10 R. |
On or before the date the application is made. |
16(zi) An application by a small electronic money institution for authorisation as an authorised electronic money institution14because regulation 16 of the Electronic Money Regulations applies. |
The amount set out in FEES 3 Annex 10 R. |
On or before the date the application is made. |
16(zj) An authorised electronic money institution applying to vary its authorisation under regulation 8 of the Electronic Money Regulations. |
50(1) Subject to (2) below, the fee is 50% of the tariff for an electronic money institution authorisation application set out in FEES 3 Annex 10R. 50(2) Where the authorised electronic money institution applies to vary its permission so as to be able to provide one or both of the payment services in paragraphs (g) and (h) of Part 1 of Schedule 1 to the Payment Services Regulations the fee payable is £750. |
On or before the date the application is made. |
16(zk) A small electronic money institution applying to vary its registration under regulation 12 of the Electronic Money Regulations. |
The amount set out in FEES 3 Annex 10 R. |
On or before the date the application is made. |
15(zl) An applicant for recognition as an accredited body. |
2,500 |
On or before the date the application is made.18 |
18(zm) An issuer applying for registration of a regulated covered bond. |
(1) Unless (2) or (3)41 applies, 45,000. (2) In the case of a proposed covered bond or programme where the assets in the asset pool will consist primarily of UK residential mortgages, 25,000. (3) No fee is payable if the issuer satisfies the criteria set out in FEES 4 Annex 2BR(5)(b).41 |
On or before the date the application is made. |
18(zn) An issuer who proposes to make a material change to the contractual terms of a regulated covered bond under RCB 3.5.4 D. |
(1) Unless (2) applies 6,500.41 (2) No fee is payable if the issuer satisfies the criteria set out in FEES 4 Annex 2BR(5)(c).41 |
On or before the date the notification under RCB 3.5.4 D is made.21 |
21(zo) In the case of persons in respect of which the FCA has given notice of its intention to take, or appoint a competent person to take, any steps under CONRED 2.5.12R, either: (i) a Firm (as defined in CONRED 2.1.1R(1); or (ii) a person falling within CONRED 2.1.2R(1). |
An amount equal to: (1) a sum determined by the number of hours, or part of an hour, taken by the FCA in relation to work conducted in taking steps under recorded on the FCA's systems, multiplied by the rate in FEES 3 Annex 9 (11)R; or (2) any amount invoiced to the FCA by a competent person in relation to any work carried out by that competent person in connection with its appointment by the FCA under CONRED 2.5.12R. |
Within 30 days of the date of the invoice. |
76(zp) A person in respect of which the FCA37 has given notice of its intention to itself appoint a skilled person to provide it with a report pursuant to section 166(3)(b) of the Act and SUP 5.2. 37 |
Any amount invoiced to the FCA37 by a skilled person in relation to any work carried out by that skilled person in connection with its appointment by the FCA37 pursuant to section 166(3)(b) of the Act. 37 |
Within 30 days of the date of the invoice. |
76(zq) A person in respect of which the FCA37 has given notice of its intention to itself appoint a skilled person to collect or update information pursuant to section 166A(2)(b) of the Act. 37 |
Any amount invoiced to the FCA37 by a skilled person in relation to any work carried out by that skilled person in connection with its appointment by the FCA 37 pursuant to section 166A(2)(b) of the Act. 3737 |
|
30(zs) Applicant for FCA permission for an agreement to be enforced under section 28A(3)(a) and/or money paid or property transferred under and agreement to be retained under 3128A(3)(b) of the Act |
(1) If the application is for permission for an agreement to be enforced under section 28A(3)(a) of the Act and for permission for money paid or property transferred under an agreement to be retained under section 28A(3)(b) of the Act, the fee is 31£3,500 per type of agreement specified in the application.30 (2) If the application is for permission for an agreement to be enforced under section 28A(3)(a) of the Act only, the fee is £3,500 per type of agreement specified in the application.31 (3) If the application is for permission for money paid or property transferred under an agreement to be retained under section 28A(3)(b) of the Act only, the fee is £3,500 per type of agreement specified in the application.31 Where there are a number of agreements of the same type, only one fee is payable in respect of those agreements. A number of agreements are of the same type when those agreements are entered into on the same terms and conditions. |
On or before the date the application is made. |
(zt) An applicant for registration in the Financial Services Register under article 8(1) of the MCD Order. 78 |
Unless (1), or (2) applies, the fee as set out in FEES 3 Annex 10A. 78 (1) If the applicant is applying for a Part 4A permission at the same time as it applies for registration under article 8(1) of the MCD Order, the fee payable in row (a), column (2) paragraph (3) of this Table. 78 (2) If the applicant is applying for a variation of a Part 4A permission at the same time as it applies for registration under article 8(1) of the MCD Order, the fee payable in row (p), column 2 paragraph (3)(c) of this Table. 78 |
On or before the application is made.78 |
(zu)40 Any person to which the Designated Credit Reference Agencies and Finance Platform42 Fee applies under FEES 3 Annex 10B. 39 |
Designated Credit Reference Agencies and Finance Platform42 Fee in accordance with FEES 3 Annex 10B. |
Within 30 days of the date of the invoice. |
43(zv) Any firm that meets the test in FEES 3 Annex 10C(1)R(1) (PPI campaign fees). |
The amount set out in FEES 3 Annex 10C(1) R(2). |
Within 30 days of the date of the invoice. |
45(zw) An applicant for authorisation under regulation 7 of the DRS Regulations, or the operator of a trading venue seeking verification of their compliance with Title V of MiFID49 under regulation 8 of the DRS Regulations or an applicant for variation of an authorisation under regulation 12 of the DRS Regulations. |
Either (1), (2), or (3) applies as set out below: (1) If the applicant is applying for permission to operate one data reporting service, 5,000. (2) If the applicant is applying for permission to operate more than one data reporting services, 50% of the fee at (1) for each additional service plus the fee at (1). (3) If the applicant is applying for variation of an authorisation, 50% of the fee at (1) for each additional service. |
On the date the application is made. |
46(zx) (1) Unless (2) applies any person applying to connect to the market data processor system to make transaction reports directly to the FCA under MiFIR. (2) If a person has previously applied as stated in (zx)(1) above and has been connected then no further fee is payable for any further such applications. |
1) Unless (2) applies, 20,000. (2) Any incoming data reporting services provider will pay 80% of the fee at (1). |
On the date the application is made |
46(zy) (1) Subject to (2) and (3) below, any person applying to connect to the market data processor system to provide markets data (other than transaction reports) under MiFID49 and MiFIR. (2) If a person has previously applied as stated in (zy)(1) above and has been connected then no further fee is payable for any further such applications in relation to reporting the same data. (3) If a person has previously applied as stated in (zy)(1) above and makes a further application in relation to the provision of different data then a separate fee is payable for such application. |
(1) Unless (2) applies, 10,000. (2) Any incoming data reporting services provider authorised by another EEA State will pay 80% of the fee at (1). |
On the date the application is made. |
51(zz) an applicant for registration under regulation 14 of the Risk Transformation Regulations as a protected cell company. |
500 |
On or before the date the application is made. |
(1) Fee payer |
(2) Fee payable |
(3) Due date |
(a) (i) An issuer which has not made public its annual financial report before the latest time specified in DTR 4.1.3 R. (ii) An issuer which has not made public its half-yearly financial report before the latest time specified in DTR 4.2.2 R (2). |
Within 30 days of the date of the invoice. |
|
On or before the date the application is made. |
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38(c) For the purposes of48 the listing rules:48 (i)48 an issuer requesting approval of a document arising in relation to a specific event or transaction, which is not a significant transaction or a super transaction; or48 48(ii) an issuer or person applying for eligibility for listing of its securities. |
On or before the date that relevant document is first submitted to the FCA. |
|
38(d) Under the prospectus rules, Prospectus Rules or the Prospectus Regulation, an issuer or a person requesting approval or review of a document arising in relation to a specific event or transaction, which is not a significant transaction or a super transaction. |
On or before the date that relevant document is first submitted to the FCA. |
|
38(e) An issuer requesting the approval or review of a document in connection with a super transaction. |
On or before the date that relevant document is first submitted to the FCA. |
|
38(f) An issuer requesting the approval or review of a document in connection with a significant transaction. |
On or before the date that relevant document is first submitted to the FCA. |
|
38(g) A person who requests the FCA’s approval of a document that includes a mineral expert’s report and who is a fee payer under one or more of the categories (c), (d), (e), and (f) above must additionally pay a fee under this category. |
On or before the date that relevant document is first submitted to the FCA. |
|
38(h) An applicant for approval as a primary information provider. |
On or before the date the application is made. |
[Note:Guidance on how a firm liable to pay a fee under both rows (s) and (ze) of this table for the same transaction should expect to be treated is set out in FEES 3 Annex 11 G.]19
Applicable sections (see SUP 3.1.1 R)
This table and the provisions in SUP 3 should be read in conjunction with GEN 2.2.23 R to GEN 2.2.25 G. In particular, the PRA does not apply any of the provisions in SUP 3 in respect of FCA-authorised persons. SUP 3.10 and SUP 3.11 are applied by the FCA only.41 |
(1) Category of firm |
(2) Sections applicable to the firm |
(3) Sections applicable to its auditor |
|
(1) |
Authorised professional firm which is required by IPRU(INV) 2.1.2R to comply with chapters 3, 519 or 13 of IPRU(INV) and which has an auditor appointed under or as a result of a statutory provision other than in the Act9 (Notes 1 and 6)23 23192323 |
SUP 3.1, SUP 3.2, SUP 3.8,19SUP 3.10 19 |
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(2) |
Authorised professional firm not within (1) to which the custody chapter or client money chapter applies22 172223 |
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(3) |
Authorised professional firm not within (1) or (2) which has an auditor appointed under or as a result of a statutory provision other than in the Act |
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(4) |
Bank, building society or dormant account fund operator21which in each case carries on designated investment business21(Notes 2A and 6)23 23 |
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(5) |
Bank, building society or a dormant account fund operator which in each case does not carry on designated investment business21 (Note 2A) 21 |
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(5A) |
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CASS debt management firm unless subject to a requirement imposed under section 55L of the Act stating that it must not hold client money or such a requirement to the same effect30 |
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33(5C) |
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(6) |
Insurer, the Society of Lloyd's, underwriting agent or members' adviser, UK ISPV11 (Note 5)7 |
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(7) |
Investment management firm, (other than an exempt CAD firm),16personal investment firm (other than a small personal investment firm or exempt CAD firm) 15,28securities and futures firm (other than an exempt CAD firm or an exempt BIPRU commodities firm20)15 or collective portfolio management firm that is an external AIFM28 which, in each case, has an auditor appointed under or as a result of a statutory provision other than in the Act9(Notes 3 and 623)17 239281723 |
SUP 3.1, SUP 3.2, SUP 3.8,19SUP 3.10 19 |
|
9(7A) |
Investment management firm (other than an exempt CAD firm)20, personal investment firm (other than a small personal investment firm or exempt CAD firm15),28securities and futures firm (other than an exempt CAD firm15 or an exempt BIPRU commodities firm20) or collective portfolio management firm that is an external AIFM28 not within (7) to which the custody chapter or client money chapter applies22 23281722 |
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25 | |||
9(7B) |
Collective portfolio management firm that is a 28UCITS firm13or an internally managed AIF28 (Note 6)23 13 |
SUP 3.1, SUP 3.2, SUP 3.8,19SUP 3.10 19 |
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13(7C) |
UK MiFID investment firm, which has an auditor appointed under or as a result of a statutory provision other than in the Act (Notes 3B and 6)2320 2023 |
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17(7D) |
Sole trader or partnership that is a UK20MiFID investment firm (other than an exempt CAD firm) (Notes 3C and 6)2320 2023 |
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(8) |
Small personal investment firm or service company which, in either case, has an auditor appointed under or as a result of a statutory provision other than in the Act |
||
(9)8 |
Home finance provider10 which has an auditor appointed under or as a result of a statutory provision other than in the Act9 10 |
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(10)8 |
Insurance intermediary (other than an exempt insurance intermediary) to which the insurance client money chapter17 (except for CASS 5.2 (Holding money as agent)) applies (see Note 4)8 17 |
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(11)8 |
Exempt insurance intermediary and insurance intermediary not subject to SUP 3.1.2 R(10) which has an auditor appointed under or as a result of a statutory provision other than in the Act |
||
(12)8 |
Home finance intermediary10 or home finance administrator10 which has an auditor appointed under or as a result of a statutory provision other than in the Act. 1010 |
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Note 1 = This chapter applies to an authorised professional firm in row (1) (and its auditor) as if the firm were of the relevant type in the right-hand column of IPRU(INV) 2.1.4R. |
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Note 2 [deleted]23 171723 |
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Note 2A = For this purpose, designated investment business does not include either or both: (a) dealing which falls within the exclusion in article 15 of the Regulated Activities Order (Absence of holding out etc) (or agreeing to do so); and (b) dealing in investments as principal (or agreeing to do so): (i) by a firm whose permission to deal in investments as principal is subject to a limitation to the effect that the firm, in carrying on this regulated activity, is limited to entering into transactions in a manner which, if the firm was an unauthorised person, would come within article 16 of the Regulated Activities Order (Dealing in contractually based investments); and (ii) in a manner which comes within that limitation; having regard to article 4(4) of the Regulated Activities Order (Specified activities: general23). 18 |
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Note 3 = This note applies in relation to an oil market participant to which IPRU(INV) 3 does not apply and in relation to an energy market participant to which IPRU(INV) 3 does not apply. In SUP 3: (a) only SUP 3.1, SUP 3.2 and SUP 3.7 are applicable to such a firm; and (b) only SUP 3.1, SUP 3.2 and SUP 3.8 are applicable to its auditor; and, in each case, only if it has an auditor appointed under or as a result of a statutory provision other than in the Act. |
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23 | |||
20Note 3B = UK MiFID investment firms include exempt CAD firms. An exempt CAD firm that has opted into MiFID can benefit from the audit exemption for small companies in the Companies Act legislation if it meets is an exempt investment firm as defined by article 8 of the MiFI Regulations.31 If a firm does so benefit then SUP 3 will not apply to it. For further details about exempt CAD firms, see PERG 13, Q58. |
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17Note 3C20 = A sole trader or a partnership that is a UK MiFID investment firm20 to which the custody chapter22 or client money chapter applies2220 must have its annual accounts audited. 20202222 |
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Note 4 = The client money audit requirement in SUP 3.1.2 R(10) therefore applies to all insurance intermediaries except:8 • those which do not hold client money or other client assets in relation to insurance mediation activities; or 8 • those which only hold up to, but not exceeding, £30,000 of client money under a statutory trust arising under CASS 5.3.8 Insurance intermediaries which, in relation to insurance mediation activities, hold no more than that amount of client money only on a statutory trust are exempt insurance intermediaries.8 |
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Note (5) = In row (6):7 |
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(a)7 |
SUP 3.1 - SUP 3.7 applies to a managing agent in respect of its own business and in respect of the insurance business of each syndicate which it manages; and7 |
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(b)7 |
SUP 3.1, SUP 3.2 and SUP 3.8 apply to the auditors of a managing agent and the auditors of the insurance business of each syndicate which the managing agent manages.1234567 |
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23Note 6 = Where SUP 3.11 applies to a firm, and SUP 3.10 applies to the auditor of that firm, those sections apply whether or not that firm'spermission prevents it from holding client money or custody assets and whether or not it holds client money or custody assets.A collective portfolio management firm that is an internally managed AIF is required to appoint an auditor under FUND 3.3.6R (2) (Annual report of an AIF) because the AIFM is also an AIF.28 |