Related provisions for FEES App 1.3.6
Table of application, notification, vetting and other fees payable to the FCA32
Part 1A: Application, notification and vetting fees66 31 |
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31(1) Fee payer |
(2) Fee payable (£)37 by reference to the pricing category in FEES 3 Annex 1AR.66 |
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 (zza)52 of this table 26 |
(1) Unless (2) or (3)66 applies, in1 respect of a particular application, the highest of the tariffs set out in FEES 3 Annex 1AR66 which apply to that application. 66(2) 50% of the tariff payable under (1) is payable when either (a) or (b) apply: 66(a) the application is one referred to in paragraph p; or 66(b) the application is a limited permission case under 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 permission66, the fee payable is the higher of: 78 (i) the fee 66payable in (1) or (2); and 78 (ii) the fee payable in FEES 3 Annex 10AR. 78 (4) [deleted]66 1417813434343434343441 |
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) [deleted]56 4 |
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(c) [deleted]66 |
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(d) [deleted]66 27 |
2727 | |
(da) Persons making an application or notification in relation to applications set out in FEES 3 Annex 2R: 66(i) authorisation order for or recognition under section 272 of the Act of a collective investment scheme; 66(ii) application for the authorisation of an AIF as an LTIF; 66(iii) the management company of a scheme making a notification under section 264 of the Act; 66(iv) a non-UK AIFM (with a branch in the UK) notifying the FCA of its intention to market an AIF in the UK under regulation 59 of the AIFMD UK regulation; 66(v) 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; 66(vi) an applicant for registration on the register of small registered UK AIFM. 5836 |
Category applicable to the application or notification set out in FEES 3 Annex 2R66 36 |
On or before the date the application or notification66 is made 36 |
(e) Any applicant making an application set out in FEES 3 Annex 14R - Other FCA application fees:66 66(i) Any person seeking an order under section 326(1) of the Act to become a designated professional body; 66(ii) applicant to be added to the list of designated investment exchanges; 66(iii) any applicant for recognition as an accredited body; 66(iv) any applicant for registration under regulation 14 of the Risk Transformation Regulations as a protected cell company; 66(v) an application for recognition of an administrator in accordance with article 32 of the benchmarks regulation; 66(vi) an application for endorsement of a benchmark or family of benchmarks in accordance with article 33 of the benchmarks regulation; 66(vii) an application 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 MiFID under regulation 8 of the DRS Regulations; 66(viii) an application for variation of an authorisation under regulation 12 of the DRS Regulations; 66(ix) an application for connection to the market data processor system to provide reports directly to the FCA under MiFIR; 66(x) an application to connect to the market data processor system to provide markets data (other than transaction reports) under MAR 10; 66(xi) an application for authorisation as a third party verifier. 272727 |
Pricing category applicable to the application set out in FEES 3 Annex 14R66 2727 |
As specified in FEES 3 Annex 14R66 28 |
5656 | ||
(eb) [deleted]66 28 |
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(f) Persons making an application referred to in FEES 3 Annex 15R – Transaction fees:66 66(i) any applicant for a certificate under article 54 of the Regulated Activities Order; 66(ii) a transferor in the case of an insurance business transfer scheme; 66(iii) an issuer applying for registration of a regulated covered bond; 66(iv) an issuer who proposes to make a material change to the contractual terms of a regulated covered bond under RCB 3.5.4D; 66(v) an applicant for FCA permission for: 66i. an agreement to be enforced under section 28A(3)(a) of the Act; or 66ii. money paid or property transferred under the agreement to be retained under section 28A(3)(b) of the Act. (vi) 67Applications in respect of controlled functions under the Senior Managers and Certification Regime (SMCR), including applications by principal firms in respect of SMCR functions in appointed representatives. |
Pricing category applicable to the application or notification set out in FEES 3 Annex 15R.66 |
As specified in FEES 3 Annex 15R66 |
(g) Any applicant for recognition as a UK recognised body:62 (i) under section 287 of the Act; or62 (ii) under regulation 2(1) of the RAP regulations6256 17761717 |
FEES 3 Annex 3, part 1 |
On or before the date the application is made26 |
(ga) [deleted]52 26353535 |
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(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 |
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(k) [deleted]35 35 |
35 | 35 |
(l) [deleted]38 |
72 | |
(m) [deleted]38 |
72 | |
(n) [deleted]66 |
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(o) [deleted]65 112229529762929556762929295557629295762929297629295 |
[deleted]65 5255512515555157657655256 |
[deleted]65 276292976292976229 |
(oa) [deleted]65 2937373737585637373737583737 |
[deleted]65 37 |
[deleted]65 37373737 |
(p) A firm applying for a variation of its Part 4A permission, as referred to in FEES 3 Annex 16R66, whose fee is not payable pursuant to sub- paragraphs 64(zza)52 or (zzh) 64 of this table 26 |
(1) As specified in FEES 3 Annex 1R-FEES 3 Annex 14R66 (2) Subject to (3) below, if the new business of the firm would fall within more than one pricing category in FEES 3 Annex 1AR, the fee payable is that in the highest pricing category applicable to the application.66 (2A) [deleted]66 (3) [deleted]66 (3A) [deleted]66 (3B) [deleted]66 (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 payable is the highest of:66 66(i) the fees set out in FEES 3 Annex 10AR; (ii) the amount payable in accordance with FEES 3 Annex 16R; (3D) [deleted]66 (4) [deleted]66 [deleted]66 3078444130787811176763776377878371137373030233737373730373737303711113737303730784111761444444 |
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 | |
(s) [deleted]66 5 |
7575375937597575377537 | 37 |
20 | ||
(u) [deleted]34 34 |
34 | 34 |
(v) [deleted]38 2222 |
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[deleted]35 35 |
35 | 35 |
(x)[deleted]38 |
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(y) A person who makes an application or notification to the FCA under the Payment Services Regulations, including an application for variation of authorisation or registration.66 8 |
The fee payable is that in the highest pricing category applicable to the application or notification as set out in FEES 3 Annex 8R66. 47 |
On or before the date the application is made. |
(ya) [deleted]66 47 |
47 | 47 |
(z) [deleted]66 47 |
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(za) [deleted]66 47 |
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(zb) [deleted]66 47 |
5050475050475047474747475050 | |
(zc) [deleted]66 47 |
474747474747 | |
(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 . |
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(zf) [deleted]76 76 |
76 | 91676 |
(zg) A person who makes an application or notification to the FCA under the Electronic Money Regulations, including an application for variation of authorisation or registration66. 16 |
The fee payable is that in the highest pricing category applicable to the application or notification as set out in FEES 3 Annex 10R.66 |
On or before the date the application is made. |
(zh) [deleted]66 16 |
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(zi) [deleted]66 1614 |
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(zj) [deleted]66 16 |
5050 | |
(zk) [deleted]66 16 |
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(zl) [deleted]66 15 |
18 | |
(zm) [deleted]66 18 |
4141 | |
(zn) [deleted]66 18 |
4141 | 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 |
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(zs) [deleted]66 3031 |
31303131 | |
(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. |
(zw) [deleted]66 4563634963 |
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(zx) [deleted]66 46 |
63 | |
(zy) [deleted]66 464956 |
63 | |
(zz) [deleted]66 51 |
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52(zza) An application for authorisation as a regulated benchmark administrator. |
The highest of the applicable tariffs set out in FEES 3 Annex 1AR.66 Where an applicant intends to administer benchmarks falling into different complexity groupings, it will pay one fee only, for the highest category applied for. If, once authorised, a regulated benchmark administrator notifies the FCA of its intention to administer other/additional benchmarks no further application fee is payable (even if the other/additional benchmark falls into a higher complexity category). |
On the date the application is made. |
(zzb) [deleted]66 52 |
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(zzc) [deleted]66 52 |
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54(zzd) applications for claims management companies |
The fee applicable to the application as set out in paragraph CMC of Part 2 of FEES 3 Annex 1R.66 Firms which already have Part 4A permissions and are applying to vary their permissions will pay 50% of66 the relevant fee. |
On the date the application is made. |
(zze) [deleted]66 55 |
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61(zzf) UK-based applicants for registration as a trade repository; a securitisation repository, or a third country applicant seeking recognition as a trade repository. |
5,000 Applicants for registration as a trade repository who already hold registration as a securitisation repository, or vice versa, will receive a 50% discount on the relevant application fee. Applicants for registration as a trade repository to carry on activity for the purposes of UK SFTR who already hold registration as a trade repository under EMIR or vice versa, will receive a 50% discount on the relevant application fee. |
On the date the application is made. |
61(zzg) UK-based applicants for registration as a credit rating agency or a third country applicant seeking certification as a credit rating agency. |
The fee set out in FEES 3 Annex 13R. |
On the date the application is made. |
64(zzh) Permission for (1) carrying on funeral plan distribution; (2) carrying out a funeral plan contract as provider; or (3) carrying out a funeral plan contract as provider and entering as provider into a funeral plan contract. |
(1) The highest of the tariffs set out in FEES 3 Annex 1R part 3A which apply to that application, subject to (2) and (3) below. (2) Unless (3) below applies, where an applicant was carrying out any of the activities referred to in (zzh)(1)-(3) on 1 September 2021, and makes an application for permission for any of those activities after 1 November 2021, the application fees shall be: (a) £3,500 for (zzh)(1) or zzh(2); (b) £14,000 for (zzh)(3). (3) If an applicant which already has any of the permissions referred to in (zzh) applies to vary its permission, the application fees shall be: (a) £500 for (zzh)(1); (b) £1,250 for (zzh)(2); and (c) £5,000 for (zzh)(3). |
On or before 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. |
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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. |
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38(d) Under the Prospectus Rules or the Prospectus Regulation60, 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. |
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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. |
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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. |
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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. |
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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
1Introduction |
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1. |
An accredited body is a body appearing in the list of such bodies in the Glossary.1 1 |
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2. |
Information on accredited bodies, including guidance on the process for including an applicant body in the list, is set out below and the obligation to pay the application fee is set out in FEES 3.2. |
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3. |
[deleted]1 1 |
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Process for including a body in the list of accredited bodies |
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4. |
In considering the compatibility of a proposed addition with the statutory objectives, the FCA will determine whether the applicant will, if accredited, contribute to securing an appropriate degree of protection for consumers having regard in particular to: |
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(1) |
the matters set out in paragraphs 10 to 20; and |
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(2) |
the rules and practices of the applicant. |
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5. |
An application to the FCA to be added to the list of accredited bodies should set out how the applicant will satisfy the criteria in paragraphs 10 to 20. The application should be accompanied by a report from a suitable auditor which sets out its independent assessment of the applicant's ability to meet these criteria. An application form is available from the FCA upon request. |
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6. |
When considering an application for accredited body status the FCA may: |
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(1) |
carry out any enquiries and request any further information that it considers appropriate, including consulting other regulators; |
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(2) |
ask the applicant or its specified representative to answer questions and explain any matter the FCA considers relevant to the application; |
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(3) |
take into account any information which the FCA considers appropriate to the application; and |
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(4) |
request that any information provided by the applicant or its specified representative is verified in such a manner as the FCA may specify. |
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7. |
The FCA will confirm its decision in writing to the applicant. |
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8. |
The FCA will enter into an agreement with the applicant or accredited body which will require the accredited body to meet, among other obligations, the criteria and expectations set out in this Appendix or other parts of the Handbook, as amended from time to time.5 Approval as an accredited body becomes effective only when the name of the applicant is added to the Glossary definition of accredited body. |
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9. |
Paragraphs 10 to 20 set out the criteria which an applicant should meet to become an accredited body and which an accredited body should meet at all times. |
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Acting in the public interest and furthering the development of the profession |
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10. |
The FCA will expect an accredited body to act in the public interest, to contribute to raising consumer confidence and professional standards in the retail investment advice market and to promoting the profession. |
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Carrying out effective verification services |
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11. |
If independent verification of a retail investment adviser's professional standards has been carried out by an accredited body, the FCA will expect the accredited body to provide the retail investment adviser with evidence of that verification in a durable medium and in a form agreed by the FCA. This is referred to in this Appendix and TC 2.15 as a ‘statement of professional standing’. |
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12. |
The FCA will expect an accredited body to have in place effective procedures for carrying out its verification activities. These should include: |
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(1) |
verifying that each retail investment adviser who is a member of or subscriber to the accredited body's verification service has made an annual declaration in writing that the retail investment adviser has, in the preceding 12 months, complied with APER or4COCON2(as applicable)4 and completed the continuing professional development required under TC 2.1.15 R;1 |
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(2) |
verifying annually the continuing professional development records of no less than 10% of the retail investment advisers who have used its service in the previous 12 months to ensure that the records are accurate and the continuing professional development completed by the retail investment advisers is appropriate; and |
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(3) |
verifying that, if required by TC, the retail investment advisers who use its services have attained an appropriate qualification. This should include, where relevant, checking that appropriate qualification gap-fill records have been completed by the retail investment advisers. |
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13. |
The FCA will not expect an accredited body to carry out the verification in paragraph 12(3) if a retail investment adviser provides the accredited body with evidence in a durable medium which demonstrates that another accredited body has previously verified the retail investment adviser's appropriate qualification, including, where relevant, appropriate qualification gap-fill. |
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14. |
The FCA will expect an accredited body to make it a contractual condition of membership (where a retail investment adviser is a member of the accredited body) or of using its verification service (where a retail investment adviser is not a member of the accredited body) that, as a minimum, the accredited body will not continue to verify a retail investment adviser's standards and will3 withdraw its statement of professional standing if5: (1) it is provided with false information in relation to a retail investment adviser’s qualifications or continuing professional development;5 (2) it is provided with a false declaration in relation to a retail investment adviser’s compliance with APER or COCON (as applicable); or5 (3) the retail investment adviser becomes subject to a prohibition order.5 In this regard, an accredited body must have in place appropriate decision-making procedures with a suitable degree of independence and transparency. 2223234334 |
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Having appropriate systems and controls in place and providing evidence to the FCA of continuing effectiveness |
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15. |
The FCA will expect an accredited body to ensure that it has adequate resources and systems and controls in place in relation to its role as an accredited body. |
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16. |
The FCA will expect an accredited body to have effective procedures in place for the management of conflicts of interest and have a well-balanced governance structure that engages a broad set of qualities and competences,5 with at least one member who is independent of the sector. |
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17. |
The FCA will expect an accredited body to have a code of ethics and to ensure that its code of ethics and verification service terms and conditions do not contain any provisions that conflict with APER or COCON (as applicable)4. 2 |
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Ongoing cooperation with the FCA |
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18. |
The FCA will expect an accredited body to provide the FCA with such documents and information as the FCA reasonably requires, and to cooperate with the FCA in an open and transparent manner. |
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19. |
The FCA will expect an accredited body to share information as soon as reasonably practicable with the FCA (subject to any legal constraints, including those in data protection legislation)5 in relation to the professional standards of the retail investment advisers who use its service as appropriate. Examples might include conduct issues, complaints, dishonestly obtaining or falsifying qualifications or continuing professional development, a failure to complete appropriate continuing professional development, or the accredited body’s decision to withdraw or not renew a retail financial adviser’s statement of professional standing. 5The FCA will expect an accredited body to notify the firm if issues such as these arise. |
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20. |
The FCA will expect an accredited body to submit to the FCA, every 2 years, a5 report by a suitable independent auditor which sets out that auditor’s assessment of the quality of the body’s satisfaction of the criteria in paragraphs 10 to 19 in the preceding 245months and whether, in the auditor’s view, the body is capable of satisfying the criteria in the subsequent 245months. The FCA will expect this report to be submitted to the FCA every 2 years, within 35months of the anniversary of the date on which the accredited body was added to the Glossary definition of accredited body. |
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Withdrawal of accreditation |
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21. |
If an accredited body fails or, in the FCA's view, is likely to fail to satisfy the criteria, the FCA will discuss this with the accredited body concerned. If, following a period of discussion, the accredited body has failed to take appropriate corrective action to ensure that it satisfies and will continue to satisfy the criteria, the FCA will withdraw the accredited body’s accreditation. Withdrawal of an accredited body’s accreditation will be reflected in the Handbook by amending the list published under the Glossary definition of accredited body5. The FCAFCA will expect the body to notify each retail investment adviser holding a current statement of professional standing of the FCA's decision. A statement of professional standing issued by the accredited body before the withdrawal of accreditation will continue to be valid until its expiration. |