Related provisions for RCB 3.6.3
Table of periodic fees payable to the FCA63
631 Fee payer |
2 Fee payable |
3 Due date |
4 Events occurring during the period leading to modified periodic fee |
25 | As54 specified in FEES 4.3.1 R in relation to FEES 4 Annex 2AR and FEES 4 Annex 11 R6354 373737 |
(1) Unless (2) applies54, on or before the relevant dates specified in FEES 4.3.6 R.12 (2) If54 an event specified in column 4 occurs during the course of a fee year, 30 days after the occurrence of that event, or if later the dates specified in FEES 4.3.6 R.754 77776262414141 |
Firm receives permission, or becomes authorised or registered under the Payment Services Regulations, article 8 of the MCD Order32, the DRS Regulations41 or the Electronic Money Regulations12;9 or firm9extends permission or its payment service activities916 659 |
Persons who hold a certificate issued by the FCA62 under article 54 of the Regulated Activities Order (Advice given in newspapers etc.) 62 |
£1,15151 46314031 |
(1) Unless (2) applies, on or before 1 August or, if later, within 30 days of the date of the invoice23 (2) If an event in column 4 occurs,52 during the course of a fee year,62 30 days after the occurrence of that event.51 2362 |
Certificate issued to person by the51FCA62 under article 4054 of the Regulated Activities Order46 62 |
23 | In relation to each unit trust the amount specified in part 1 of 25FEES 4 Annex 4 |
Authorisation order is made in relation to the relevant scheme24 |
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24Any authorised fund manager of an authorised contractual scheme; |
In relation to each authorised contractual scheme the amount specified in part 1 of25FEES 4 Annex 4 |
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In relation to each ICVC,25 the amount specified in part 1 of25FEES 4 Annex 4 |
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Persons who, under the constitution or founding arrangements of a recognised scheme, are 33responsible for the management of the property held for or within the scheme; |
In relation to each recognised scheme the amount specified in part 1 of25FEES 4 Annex 4 |
The relevant scheme becomes a recognised scheme25 |
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Not applicable |
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33 | In relation to each LTIF49 the amount specified in part 1 of FEES 4 Annex 433 |
(1) Unless (2) applies, on or before 1 August or, if later, within 30 days of the date of the invoice.33 (2) If an event in column 4 occurs during the course of a fee year, 30 days after the occurrence of that event.33 |
The LTIF49 is authorised by the FCA under the LTIF Regulation49 33 |
On or before the relevant dates specified in FEES 4.3.6 R23 23 |
Not applicable |
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FEES 4 Annex 6, part 1for a UK RIE; and55 FEES 4 Annex 6R, part 1A for a UK RIE that is also a RAP55 631349 |
(1) On or before the relevant dates specified in FEES 4.3.6 R23 (2) If the event in column 4 occurs during the course of a fee year62, 30 days after the occurrence of that event 2362 |
Recognition order is made. The modified1164 periodic fee is specified in FEES 4 Annex 6 R, Part 1.491164 116411641311641164 |
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63 | FEES 4 Annex 6, part 2 |
(1) On or before the relevant dates specified in FEES 4.3.6 R23 (2) If the event in column 4 occurs during the course of a fee year62, 30 days after the occurrence of that event. 2362 |
Recognition order is made. The modified1164 periodic fee is specified in FEES 4 Annex 6, Part 2.1164 1164116411641164 |
A listed issuer35 (in LR) of shares and certificates representing certain securities35. 33 |
Within 30 days of the date of the invoice |
Listedissuer3 (in LR) becomes subject to listing rules 3 |
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3110122323311210231 | Within 30 days of the date of the invoice |
141414 | |
All non-listed issuers (in DTR) of shares and certificates representing certain securities35. 66 |
29 | Within 30 days of the date of the invoice |
Non-listed issuer (in DTR) becomes subject to disclosure requirements36 and transparency rules629 |
Within 30 days of the date of the invoice |
A person is approved as a primary information provider |
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6All firms reporting transactions in securities derivatives10to the FCA62 in accordance with SUP 17, and market operators who provide facilities for trading in securities derivatives.10 6210 |
Within 30 days of the date of the invoice |
Not applicable |
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15Any issuer of a regulated covered bond. |
(1) Unless (2) applies, on or before the relevant dates specified in FEES 4.3.6 R (2) If an event specified in column 4 occurs during the course of a fee year62, 30 days after the occurrence of that event or, if later, the dates specified in FEES 4.3.6 R 62 |
A person becomes registered as an issuer of a regulated covered bond |
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26(i) A non-UK AIFM49 which has notified the FCA of its intention to market an AIF in the UK under regulation 5949 of the AIFMD UK regulation and which has not ceased to market that AIF in the UK as at 1 April of the current fee year. (ii) non-UK AIFM49 which has notified the FCA of its intention to market an AIF in the UK under regulation 58 or 59 of the AIFMD UK regulation and which has not ceased to market that AIF in the UK as at 1 April of the current fee year. |
For each notification made by the AIFM of the kind specified in part 2 of FEES 4 Annex 4, the amount specified in part 2 of FEES 4 Annex 4 |
(1) Unless (2) applies, on or before 1 August, or, if later, within 30 days of the date of the invoice (2) If an event in column 4 occurs during the course of a financial year, 30 days after the occurrence of that event |
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The basic fee contained in part 3 of FEES 4 Annex 4 |
The AIFM is registered by the FCA under regulation 10 of the AIFMD UK regulation. |
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30 | [deleted]41 |
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The tariff specified in FEES 4 Annex 15R |
Payable in accordance with FEES 4.3.6R |
Not applicable |
|
The tariff specified in FEES 4 Annex 15R |
Payable in accordance with FEES 4.3.6R |
Not applicable |
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50Any UK-based firm registered as a credit rating agency; a trade repository; a securitisation repository or any third country firm certified as a credit rating agency or recognised as a trade repository. |
The tariff specified in FEES 4 Annex 16R |
Within 30 days of the date of the invoice |
Not applicable |
Within 30 days of the date of the invoice58 |
Not applicable |
Note:Sponsors on the list of approved sponsors as at 1 April each year will be liable for the full year's annual fee unless FEES 4.3.13 R applies.2
1Schedule to the Recognition Requirements Regulations, paragraph 2A
(1) |
The composition of the management body of a [UK RIE] must reflect an adequately broad range of experience. |
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(2) |
The management body must possess adequate collective knowledge, skills and experience in order to understand the [UK RIE’s] activities and main risks. |
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(3) |
Members of the management body must - |
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(a) |
commit sufficient time to perform their functions on the management body; |
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(b) |
act with honesty, integrity and independence of mind; and |
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(c) |
effectively - |
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(i) |
assess and challenge, where necessary, the decisions of the senior management; and |
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(ii) |
oversee and monitor decision making. |
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(4) |
The management body must - |
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(a) |
define and oversee the implementation of governance arrangements that ensure the effective and prudent management of the [UK RIE] in a manner which promotes the integrity of the market, which at least must include the - |
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(i) |
the segregation of duties in the organisation; and |
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(ii) |
the prevention of conflicts of interest; |
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(b) |
monitor and periodically assess the effectiveness of the [UK RIE’s] governance arrangements; and |
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(c) |
take appropriate steps to address any deficiencies found as a result of the monitoring under paragraph (b). |
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(5) |
A [UK RIE] must - |
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(a) |
devote adequate human and financial resources to the induction and training of members of the management body; |
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(b) |
ensure that the management body has access to the information and documents it requires to oversee and monitor management decision-making; and |
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(c) |
notify the FCA of the identity of all the members of its management body. |
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(6) |
A [UK RIE] and, if it has a nomination committee, its nomination committee must engage a broad set of qualities and competences when recruiting persons to the management body, and for that purpose have a policy promoting diversity on the management body. |
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(7) |
The number of directorships a member of the management body can hold at the same time must take into account individual circumstances and the nature, scale and complexity of the [UK RIE’s] activities. |
The Principles
1 Integrity |
A firm must conduct its business with integrity. |
2 Skill, care and diligence |
A firm must conduct its business with due skill, care and diligence. |
3 Management and control |
A firm must take reasonable care to organise and control its affairs responsibly and effectively, with adequate risk management systems. |
4 Financial prudence |
A firm must maintain adequate financial resources. |
5 Market conduct |
A firm must observe proper standards of market conduct. |
6 Customers' interests |
A firm must pay due regard to the interests of its customers and treat them fairly. |
7 Communications with clients |
A firm must pay due regard to the information needs of its clients, and communicate information to them in a way which is clear, fair and not misleading. |
8 Conflicts of interest |
A firm must manage conflicts of interest fairly, both between itself and its customers and between a customer and another client. |
9 Customers: relationships of trust |
A firm must take reasonable care to ensure the suitability of its advice and discretionary decisions for any customer who is entitled to rely upon its judgment. |
10 Clients' assets |
A firm must arrange adequate protection for clients' assets when it is responsible for them. |
11 Relations with regulators |
A firm must deal with its regulators in an open and cooperative way, and must disclose to the FCA1 appropriately anything relating to the firm of which that regulator would reasonably expect notice. |