FEES 4

Periodic fees

FEES 4.1

Introduction

Application

FEES 4.1.1

See Notes

handbook-rule
This chapter applies to every person set out in FEES 1.1.2R (2).

FEES 4.1.1A

See Notes

handbook-rule
A reference to firm in this chapter includes a reference to a fee-paying payment service provider.

Purpose

FEES 4.1.2

See Notes

handbook-guidance
The purpose of this chapter is to set out the requirements on firms and others to pay periodic fees and transaction reporting fees in certain circumstances.

Background

FEES 4.1.3

See Notes

handbook-guidance
Most of the detail of the periodic fees that are payable by firms is set out in FEES 4 Annexes 1 to 11. 2 G provides guidance on the calculation of certain tariffs. Most of the provisions of the Annexes will vary from one financial year to another. Accordingly fresh FEES 4 Annexes will come into force, following consultation, for each financial year.

FEES 4.1.4

See Notes

handbook-guidance
  1. (1) The periodic fees for collective investment schemes reflect the estimated costs to the FSA of considering proposals to change regulated collective investment schemes, maintaining up to date records about them, and related policy work.
  2. (2) The provision of the Transaction Reporting System facilities for firms reporting transactions under SUP 17 incurs costs to the FSA. These costs depend upon the amount the facility is used. Accordingly the income which the FSA receives from these transactions reporting fees will be set and accounted for separately from the fee-block tariffs, and are set out in FEES 4 Annex 3.
  3. (3) The periodic fees for fee-paying payment service providers, are set out in FEES 4 Annex 11. This annex sets out the activity groups, tariff base, valuation dates and, where applicable, the flat fees due for these firms.

FEES 4.1.5

See Notes

handbook-guidance
The Society of Lloyd's, which has permission under section 315(2) of the Act (The Society: authorisation and permission), has its own fee block.

FEES 4.1.6

See Notes

handbook-guidance
The FSA will allocate penalties received for the benefit of relevant fee payers by way of a permitted deduction specified in FEES 4 Annex 2 or FEES 4 Annex 11 as applicable.

FEES 4.1.7

See Notes

handbook-guidance
In the case of periodic fees for firms, fees are calculated individually for each firm, but they may be paid on a group basis, if the group so wishes.

FEES 4.2

Obligation to pay periodic fees

General

FEES 4.2.1

See Notes

handbook-rule

A person shown in column (1) of the table in FEES 4.2.11 R as the relevant fee payer must pay each periodic fee applicable to it, calculated in accordance with the provisions referred to in column (2) of that table, as adjusted by any relevant provision in this chapter:

  1. (1) in full and without deduction (unless permitted or required by a provision in FEES); and
  2. (2) on or before the date given in column (3) of that table, unless FEES 4.2.10 R applies.

FEES 4.2.2

See Notes

handbook-guidance
  1. (1) A relevant fee payer will be required to pay a periodic fee for every year during which they have the status in column 1 of the table in FEES 4.2.11 R (or in relation to collective investment schemes, for every year during which it is a regulated collective investment scheme) subject to any reductions or exemptions applicable under this chapter. If a person is the relevant fee payer for more than one status listed in column 1 of the table in FEES 4.2.11 R (or in relation to collective investment schemes, the relevant fee payer for more than one regulated collective investment scheme) he will be required to pay a fee in relation to each.
  2. (2) A recognised body may also have obligations to pay fees to the FSA under other rules arising from legislation other than the Act. For example a recognised body may have an obligation to pay a fee as an approved operator of a relevant system under the Uncertificated Securities Regulations 1995 (SI 1995/3272).

FEES 4.2.3

See Notes

handbook-guidance
The FSA will issue invoices to firms and other fee payers and expects to do so at least 30 days before the dates on which payments fall due under FEES 4.2.1 R.

Method of payment

FEES 4.2.4

See Notes

handbook-rule
  1. (1) Unless (2) applies, a periodic fee must be paid using either direct debit, credit transfer (BACS/CHAPS), cheque, switch or by credit card (Visa/Mastercard only). Any payment by permitted credit card must include an additional 2% of the sum paid.
  2. (2) The FSA does not specify a method of payment for a recognised body or a designated professional body.

FEES 4.2.5

See Notes

handbook-guidance
The FSA expects a recognised body or a designated professional body will generally pay their respective fees by electronic credit transfer.

Modifications for persons becoming subject to periodic fees during the course of a financial year

FEES 4.2.6

See Notes

handbook-rule
  1. (1) Unless (2) applies, if the event, as described in column 4 of the table in FEES 4.2.11 R, giving rise to, or giving rise to an increase in, the fee payable in FEES 4.2.1 R, occurs on or after 1 July of the relevant financial year, the periodic fee required under FEES 4.2.1 R is modified for:
    1. (a) firms (other than ICVCs and UCITS qualifiers) in accordance with FEES 4.2.7 R and FEES 4.2.8 R;
    2. (b) for all other fee payers in column (1) of the table in FEES 4.2.11 R, in accordance with the table below.
  1. (2) For recognised bodies, if the recognition order is made during the course of the relevant financial year, the periodic fee required is set out in Column (4) of the table in FEES 4.2.11 R.

FEES 4.2.7

See Notes

handbook-rule

A firm (other than an ICVC or UCITS qualifier) which becomes authorised, or whose permission and/or payment service activities are extended, during the course of the financial year must pay a fee which is calculated by:

  1. (1) identifying each of the tariffs set out in Part 1 of FEES 4 Annex 2R and/or FEES 4 Annex 11 as appropriate for the relevant financial year that apply to the firm only after the permission is received or extended or payment service activities are authorised or extended, but ignoring:
    1. (a) the A.13 activity group if, before the variation, the A.12 activity group applied to the firm's business; or
    2. (b) the A.12 activity group if, before the variation, the A.13 activity group applied to the firm's business;
  2. (2) calculating the amount for each of those tariffs which is the higher of:
    1. (a) the minimum fee (but not the minimum fee under Part 1A of FEES 4 Annex 2) specified for the tariff (where this applies); and
    2. (b) the result of applying the tariff to the projected valuation, for its first year (as provided to the FSA in the course of the firm's application), of the business to which the tariff relates;
  3. (3) adding together the amounts calculated under (2);
  4. (4) working out whether a minimum fee is payable under Part 1A of FEES 4 Annex 2 R and if so how much (except that that minimum fee is not payable again by a firm whose permission is extended if the fee was already payable before the extension);
  5. (5) adding together the amounts calculated under (3) and (4) and then adding this sum to any applicable flat rate fee; and
  6. (6) modifying the result as indicated by the table in FEES 4.2.6 R (except that FEES 4 Annex 10 (Periodic fees for MTF operators) deals with a firm that receives permission for operating a multilateral trading facility or has its permission extended to include this activity during the course of the relevant financial year and FEES 4.2.6 R does not apply).

FEES 4.2.7A

See Notes

handbook-guidance
Projected valuations for a firm's first year will be collected for the 12 month period beginning with the date a firm becomes authorised, or the date its permission and/or payment service activities are extended. That information will be used to calculate the periodic fee for the remainder of the financial year in which the firm was authorised or its permission and/or payment service activities were extended (adjusted in accordance with FEES 4.2.7 R) and to calculate the periodic fee for the following financial year. Projected valuations are not relevant for those fee payers that are only required to pay fixed fees.

FEES 4.2.7B

See Notes

handbook-rule
  1. (1) This rule deals with the calculation of:
    1. (a) a firm's fees for its second financial year. This is the FSA financial year following the FSA financial year in which it was given permission or was authorised under the Payment Services Regulations or had its permission and/or payment services activities extended (the relevant permissions); and
    2. (b) the tariff base for the fee block or fee blocks that relate to each of the relevant permissions.
  2. (2) Unless this rule says otherwise, the tariff base for a firm's second financial year is calculated using projected valuations for its first year (as provided to the FSA in the course of the firm's application), of the business to which the tariff relates.
  3. (3) This rule does not apply to a firm with a permission for operating a multilateral trading facility.
  4. (4) A reference to the FSA financial year means the 12 months ending with 31 March.
  5. (5) The rest of this rule only applies to a firm that becomes authorised, or extends its permission and/or payment services activities, on or after 1 April 2009.
    1. (a) If a firm's tariff base is calculated using data from a period that begins on or after the date that the firm obtains the relevant permission to which that tariff base relates, the firm must use that data.
    2. (b) Unless (a) applies, if a firm:
      1. (i) receives a relevant permission between 1 April and 31 December inclusive; and
      2. (ii) is, but for this rule, required to calculate its tariff base for that relevant permission by reference to the average of its modified eligible liabilities for October, November and December;
    3. it must calculate that tariff base as at the December before the start of the FSA financial year.
    4. (c) If a firm satisfies the following conditions it must calculate its tariff base under (d):
      1. (i) the firm receives a relevant permission between 1 April and 31 December inclusive; and
      2. (ii) the firm's tariff base for that relevant permission is, but for this rule, calculated by reference to the firm's financial year ended in the calendar year ending on the 31 December before the start of the FSA financial year or the twelve months ending 31 December before the start of the the FSA financial year.
    5. (d) If a firm satisfies the conditions in (c) it must calculate its tariff base as follows:
      1. (i) it must use actual data in relation to the business to which the tariff relates rather than projected valuations;
      2. (ii) the tariff is calculated by reference to the period beginning on the date it acquired the relevant permission relating to the tariff, and ending on the 31 December before the start of the FSA financial year; and
      3. (iii) the figures are annualised by increasing them by the same proportion as the period of 12 months bears to the period starting from when the firm received its relevant permission to 31 December.
    6. (e) Where a firm is required to use the method in (d) it must notify the FSA of this by the date specified in FEES 4.4 (Information on which Fees are calculated).
    7. (f) Where a firm is required to use actual data under this rule FEES 4 Annex 1 Part 3 and FEES 4 Annex 11 Part 4 are modified in relation to the calculation of that firm's valuation date in its second financial year.

Application of FEES 4.2.7BR

FEES 4.2.7C

See Notes

handbook-guidance
The table below sets out the period within which a firm's tariff base is calculated (the data period) for second year fees calculated under FEES 4.2.7B R. The example is based on a firm that acquires permission on 1 November 2009 and has a financial year ending 31 March. Where valuation dates fall before the firm receives permission it should use projected valuations in calculating its fees.

References in this table to dates or months are references to the latest one occurring before the start of the FSA's financial year unless otherwise stated.

FEES 4.2.8

See Notes

handbook-rule
In relation to an incoming EEA firm or an incoming Treaty firm the modification provisions of FEES 4.2.7 R apply only in relation to the relevant regulated activities of the firm, which are passported activities or Treaty activities and which are carried on in the United Kingdom, and which are not provided on a cross border services basis. For payment services the adjustment only applies to the business to which the calculation made in FEES 4.3.12A R relates.

Fee payers ceasing to hold relevant status or reducing the scope of their permission after start of relevant period

FEES 4.2.9

See Notes

handbook-guidance

The FSA will not refund periodic fees if, after the start of the period to which they relate:

  1. (1) a fee payer ceases to have the status set out in column (1) of the table in FEES 4.2.11 R; or
  2. (2) a firm reduces its permission or payment services activities so that it then falls out of the fee-block previously applied to it;

(but see FEES 2.3 (Relieving Provisions) and FEES 4.3.13 R (Firms Applying to Cancel or Vary Permission Before Start of Period)).

Extension of Time

FEES 4.2.10

See Notes

handbook-rule

A person need not pay a periodic fee on the date on which it is due under the relevant provision in FEES 4.2.1 R, if:

  1. (1) that date falls during a period during which circumstances of the sort set out in GEN 1.3.2 R (Emergencies) exist, and that person has reasonable grounds to believe that those circumstances impair its ability to pay the fee, in which case he must pay it on or before the fifth business day after the end of that period; or
  2. (2) unless FEES 4.3.6R (3), FEES 4.3.6R (4) or FEES 4.3.6R (4A) (Time and method for payment) applies, that date would otherwise fall on or before the 30th day after the date on which the FSA has sent written notification to that person of the fee payable on that date, in which case he must pay on or before the 30th day after the date on which the FSA sends the notification.

FEES 4.2.11

See Notes

handbook-rule

Table of periodic fees

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.

FEES 4.3

Periodic fee payable by firms (other than ICVCs and UCITS qualifiers)

FEES 4.3.1

See Notes

handbook-rule

The periodic fee payable by a firm (except an ICVC or a UCITS qualifier) is:

  1. (1) each periodic fee applicable to it calculated in accordance with FEES 4.3.3 R, using information obtained in accordance with FEES 4.4; plus
  2. (1A) any periodic fee applicable to it calculated in accordance with FEES 4.3.3A R using information relating to its UK business obtained in accordance with FEES 4.4 (or by other means in the case of the Bank of England); less
  3. (2) any deductions from the periodic fee specified in Part 2 of FEES 4 Annex 2 or Parts 6 and/or 7 of FEES 4 Annex 11. For the purposes of this deduction, any deduction available in Part 2 of FEES 4 Annex 2 shall not be applied to any fee calculated in accordance with FEES 4.3.3A R and any deduction available in Part 6 and/or 7 of FEES 4 Annex 11 shall not be applied to any fees calculated in accordance with FEES 4.3.3 R.

FEES 4.3.2

See Notes

handbook-guidance
  1. (1) The amount payable by each firm will depend upon the category (or categories) of regulated activities or payment services it is engaged in (fee-blocks), and on the amount of business it conducts in each category (tariff base). The fee-blocks and tariffs are identified in in respect of the FCA and in respect of the PRA FEES 4 Annex 1 (and guidance on calculating certain of the tariffs is at FEES 4 Annex 12 G), while FEES 4 Annex 2 sets out the tariff rates for the relevant financial year. In the case of firms that provide payment services, the relevant fee blocks, tariffs and rates are set out in FEES 4 Annex 11.
  2. (2) Incoming EEA firms, incoming Treaty firms and EEA authorised payment institutions receive a discount to reflect the reduced scope of the FSA's responsibilities in respect of them. The level of the discount varies from fee-block to fee-block, according to the division of responsibilities between the FSA and Home state regulators for firms in each fee-block (see FEES 4.3.11 G, FEES 4.3.12 R and FEES 4.3.12A R).

Calculation of periodic fee (excluding fee-paying payment service providers)

FEES 4.3.3

See Notes

handbook-rule

The periodic fee referred to in FEES 4.3.1 R is (except in relation to the Society and fee-paying payment service providers) calculated as follows:

  1. (1) identify each of the tariffs set out in Part 1 of FEES 4 Annex 2 which apply to the business of the firm for the period specified in that annex;
  2. (2) for each of those tariffs, calculate the sum payable in relation to the business of the firm for that period;
  3. (3) add together the amounts calculated under (2);
  4. (4) work out whether a minimum fee is payable under Part 1A of FEES 4 Annex 2 R and if so how much;
  5. (5) add together the amounts calculated under (3) and (4); and
  6. (6) apply any applicable payment charge specified in FEES 4.2.4 R, provided that:
    1. (a) for payment by direct debit, successful collection of the amount due is made at the first attempt by the FSA; or
    2. (b) for payment by credit transfer, the amount due is received by the FSA on or before the due date.

Calculation of periodic fee for fee-paying payments service providers

FEES 4.3.3A

See Notes

handbook-rule
The periodic fee referred to in FEES 4.3.1 R in relation to fee-paying payment service providers is calculated in accordance with FEES 4 Annex 11 R.

Modification for firms with new or extended permissions

FEES 4.3.4

See Notes

handbook-guidance
  1. (1) A firm which becomes authorised or registered during the course of a financial year will be required to pay a proportion of the periodic fee which reflects the proportion of the year for which it will have a permission or the right to provide particular payment services - see FEES 4.2.5 G and FEES 4.2.6 R.
  2. (2) Similarly a firm which extends its permission or its right to provide particular payment services so that its business then falls within additional fee blocks will be required to pay a further periodic fee under this section for those additional fee blocks, but discounted to reflect the proportion of the year for which the firm has the extended permission or payment services activity - see FEES 4.2.6 R and FEES 4.2.7 R.
  3. (3) These provisions apply (with some changes) to incoming EEA firms and incoming Treaty firms.
  4. (4) These provisions do not apply to a firm's periodic fees in relation to its permission for operating a multilateral trading facility obtained from the FSA during the course of a financial year.

Amount payable by the Society of Lloyd's

FEES 4.3.5

See Notes

handbook-rule
The periodic fee referred to in FEES 4.3.1 R in relation to the Society is specified against its name in FEES 4 Annex 2.

Time of payment

FEES 4.3.6

See Notes

handbook-rule
  1. (1) If the firm's, periodic fee for the previous financial year was at least £50,000, the firm must pay:
    1. (a) an amount equal to 50% of the periodic fee payable for the previous year, by 30 April in the financial year to which the sum due under FEES 4.2.1 R relates; and
    2. (b) the balance of the periodic fee due for the current financial year by 1 September in the financial year to which that sum relates.
  2. (2) If the firm's, periodic fee for the previous financial year was less than £50,000, the firm must pay the periodic fee due in full by 1 August or, if later, within 30 days of the date of the invoice in the financial year to which that sum relates.
  3. (3) If a firm has applied to cancel its Part IV permission in the way set out in SUP 6.4.5 D (Cancellation of permission), or its status as a payment institution under regulation 10 of the Payment Services Regulations (Cancellation of authorisation) or as regulation 10 is applied by regulation 14 of the Payment Services Regulations (Supplementary provisions), then (1) and (2) do not apply but it must pay the total amount due when the application is made.
  4. (4) If the FSA has exercised its own-initiative powers to cancel a firm's Part IV permission in the way set out in EG 8 (Variation and cancellation of permission on the FSA's own initiative and intervention against incoming firms), then (1) and (2) do not apply but the firm must pay the total amount due immediately before the cancellation becomes effective.
  5. (4A) If the FSA has cancelled a firm's authorisation or registration under regulation 10 of the Payment Services Regulations or its registration under regulation 10 as applied by regulation 14 of the Payment Services Regulations, then (1) and (2) do not apply but the firm must pay the total amount due immediately before the cancellation becomes effective.
  6. (5) Paragraphs (1) and (2) do not apply to any Solvency 2 fee or Solvency 2 Implementation fee (as defined in Part 1 of FEES 4 Annex 2) and such fees are not taken into account for the purposes of the split in (1). Instead any Solvency 2 fee or Solvency 2 Implementation fee is payable on the date specified in (1)(a) or (2) (depending on which applies to the rest of its periodic fee) or any earlier date required by (3) or (4).
  7. (6) Paragraphs (1) and (2) do not apply to any periodic fee in relation to a firm's permission for operating a multilateral trading facility and such a fee is not taken into account for the purposes of the split in (1). Instead any fee for this permission is payable on the date specified in FEES 4 Annex 10 (Periodic fees for MTF operators).

Groups of firms

FEES 4.3.7

See Notes

handbook-rule

A firm which is a member of a group may pay all of the amounts due from other firms in the same group under FEES 4.2.1 R, if:

  1. (1) it notifies the FSA in writing of the name of each other firm within the group for which it will pay; and
  2. (2) it pays the fees, in accordance with this chapter, as a single amount as if that were the amount required from the firm under FEES 4.2.1 R.

FEES 4.3.8

See Notes

handbook-guidance
A notification under FEES 4.3.7R (1) should be made in accordance with SUP 15.7 (Form and method of notification).

FEES 4.3.9

See Notes

handbook-guidance

If the payment made does not satisfy in full the periodic fees payable by all of the members of the group notified to the FSA under FEES 4.3.7 R, the FSA will apply the sum received among the firms which have been identified in the notification given under FEES 4.3.7R (1) in proportion to the amounts due from them. Each firm will remain responsible for the payment of the outstanding balance attributable to it.

FEES 4.3.10

See Notes

handbook-guidance
If a firm pays its fees through an agent outside the scope of FEES 4.3.7 R, the firm is responsible for ensuring that the FSA is informed that the sum being paid is for that firm's periodic fees.

Incoming EEA firms, incoming Treaty firms and EEA authorised payment institutions

FEES 4.3.11

See Notes

handbook-guidance
The FSA recognises that its responsibilities in respect of an incoming EEA firm, an incoming Treaty firm or an EEA authorised payment institution are reduced compared with a firm which is incorporated in the United Kingdom. Accordingly the periodic fees which would otherwise be applicable to incoming EEA firms, incoming Treaty firms and EEA authorised payment institutions are reduced.

FEES 4.3.12

See Notes

handbook-rule

For an incoming EEA firm, (excluding MTF operators), or an incoming Treaty firm, the calculation required by FEES 4.3.3 R is modified as follows:

  1. (1) the tariffs set out in Part 1 of FEES 4 Annex 2 are applied only to the regulated activities of the firm which are carried on in the United Kingdom; and
  2. (2) those tariffs are modified in accordance with Part 3 of and, if applicable, Part 3 of FEES 4 Annex 2.

FEES 4.3.12A

See Notes

handbook-rule

For a full credit institution or an e-money issuer which is a fee-paying payment service provider and an EEA firm, or for an EEA authorised payment institution, the calculation required by FEES 4.3.3A R is modified as follows:

  1. (1) the tariffs set out in Part 5 of FEES 4 Annex 11 are only applied to the payment services of the firm which are carried on from an establishment in the United Kingdom, including payment services provided through any of its agents established in the United Kingdom; and
  2. (2) those tariffs are modified in accordance with Part 7 of FEES 4 Annex 11.

Firms Applying to Cancel or Vary Permission Before Start of Period

FEES 4.3.13

See Notes

handbook-rule
  1. (1) If:
    1. (a) a firm makes an application to vary its permission (by reducing its scope), or cancel it, in the way set out in SUP 6.3.15 D (3) (Variation of permission) and SUP 6.4.5 D (Cancellation of permission), or applies to vary (by reducing its scope) or cancel its authorisation or registration (regulation 8 and 10(1) of the Payment Services Regulations including as applied by regulation 14 of the Payment Services Regulations); an issuer makes an application for de-listing; or a sponsor notifies the FSA of its intention to be removed from the list of approved sponsors; and
    2. (b) the firm, issuer or sponsor makes the application or notification referred to in (a) before the start of the period to which the fee relates;
  2. FEES 4.2.1 R applies to the firm as if the relevant variation or cancellation of the firm's permission or authorisation or registration under the Payment Services Regulations, de-listing or removal from the list of approved sponsors, took effect immediately before the start of the period to which the fee relates.
  3. (2) But (1) does not apply if, due to the continuing nature of the business, the variation, cancellation, de-listing or removal is not to take effect within three months of the start of the period to which the fee relates.

FEES 4.3.14

See Notes

handbook-guidance
Where a firm has applied to cancel its Part IV permission, or its authorisation or registration under the Payment Services Regulations or the FSA has exercised its own-initiative powers to cancel a firm's Part IV permission or the FSA has exercised its powers under regulation 10 (Cancellation of authorisation), including as applied by regulation 14 (Supplementary provisions) of the Payment Services Regulations to cancel a firm's authorisation or registration under the Payment Services Regulations, the due dates for payment of periodic fees are modified by FEES 4.3.6R (3), FEES 4.3.6R (4) and FEES 4.3.6R (4A) respectively.

Firms acquiring businesses from other firms

FEES 4.3.15

See Notes

handbook-rule
  1. (1) This rule applies if:
    1. (a) a firm (A) acquires all or a part of the business of another firm (B), whether by merger, acquisition of goodwill or otherwise, in relation to which a periodic fee would have been payable by B, unless no periodic fee was payable by A in the financial year that the business was acquired from B; or
    2. (b) A became authorised or registered as a result of B's simple change of legal status (as defined in FEES 3 Annex 1 Part 6).
  2. (2) If, before the date on which A acquires the business, B had paid any periodic fee payable for the period in which the acquisition occurred, FEES 4.2.6 R to FEES 4.2.7 R do not apply to A in relation to the business acquired from B.
  3. (3) If the acquisition occurs after the valuation date applicable to the business (as set out in FEES 4 Annex 1 and FEES 4 Annex 11) which A acquired from B, for the period following that in which the acquisition occurred, FEES 4.2.1 R applies to A, in relation to that following period, as if the acquisition had occurred immediately before the relevant valuation date.

FEES 4.3.16

See Notes

handbook-rule
  1. (1) [deleted]
  2. (2) [deleted]
  3. (3) [deleted]

FEES 4.4

Information on which Fees are calculated

FEES 4.4.1

See Notes

handbook-rule
A firm (other than the Society) must notify to the FSA the value (as at the valuation date specified in Part 3 of FEES 4 Annex 1) of each element of business on which the periodic fee payable by the firm is to be calculated.

FEES 4.4.2

See Notes

handbook-rule
A firm (other than the Society) must send to the FSA in writing the information required under FEES 4.4.1 R as soon as reasonably practicable, and in any event within two months, after the date specified as the valuation date in Part 3 of FEES 4 Annex 1 (or FEES 4.2.7B R where applicable).

FEES 4.4.3

See Notes

handbook-rule
To the extent that a firm has provided the information required by this section to the FSA as part of its compliance with another provision of the Handbook, it is deemed to have complied with the provisions of this section.

FEES 4.4.4

See Notes

handbook-guidance
In most cases a firm will provide the information required by this section as part of its compliance with the provisions of SUP. To the extent that the FSA does not obtain sufficient, or sufficiently detailed, information it may seek this by using its general information gathering powers (see SUP 2 (Information gathering by the FSA on its own initiative)).

FEES 4.4.5

See Notes

handbook-rule
For an incoming EEA firm or an incoming Treaty firm, the information required under FEES 4.4 is limited to the regulated activities of the firm which are carried on in the United Kingdom, except those provided on a cross border services basis.

FEES 4.4.6

See Notes

handbook-rule
The obligations of a firm to supply information as set out in FEES 4.4.1 R and FEES 4.4.2 R do not apply in respect of any of its payment services business.

Information relating to payment services

FEES 4.4.7

See Notes

handbook-directions
An authorised payment institution, the Post Office Limited, government departments and local authorities or an EEA authorised payment institution must notify to the FSA the value (as at the valuation date specified in Part 4 of FEES 4 Annex 11) of each element of business on which the periodic fee payable by the firm is to be calculated, including any payment services carried on by its agents from an establishment in the United Kingdom.

FEES 4.4.8

See Notes

handbook-directions
An authorised payment institution, the Post Office Limited, government departments and local authorities or an EEA authorised payment institution must send to the FSA in writing the information required under FEES 4.4.7 D as soon as reasonably practicable, and in any event within two months, after the date specified as the valuation date in Part 4 of FEES 4 Annex 11.

FEES 4.4.9

See Notes

handbook-directions
To the extent that an authorised payment institution or an EEA authorised payment institution has provided the information required by FEES 4.4.7 D to the FSA as part of its compliance with another provision of the Handbook, it is deemed to have complied with the provisions of this section.

FEES 4 Annex 1

Activity groups, tariff bases and valuation dates applicable

See Notes

handbook-rule

FEES 4 Annex 2

Fee tariff rates, permitted deductions and EEA/Treaty firm modifications for the period from 1 April 2010 to 31 March 2011

See Notes

handbook-rule
Part 1
This table shows the tariff rates applicable to each fee block Part 1 A Part 2
This table shows the permitted deductions that apply where financial penalties are received under the Act:

FEES 4 Annex 3

Transaction reporting fees

Transaction reporting fees from 1 April 2010 until further notice

See Notes

handbook-rule
This table shows the fees payable for firms using the FSA's Transaction Reporting System.

FEES 4 Annex 4

Periodic fees in relation to collective investment schemes payable for the period 1 April 2010 to 31 March 2011

See Notes

handbook-rule
Part 1 - Periodic fees payable Fees are charged according to the number of funds or sub-funds operated by a firm as at 31 March 2010. Where a new collective investment scheme becomes authorised during a year, fees are charged according to the number of funds or sub-funds operated by a firm as at the date of authorisation. Where more than one fund or sub-fund is operated, the number of funds (not including the umbrella or parent fund) produces a 'fund factor' in accordance with the table above, which is then applied to a basic fee to produce one total fee per operator. Fund factors are applied per operator rather than per scheme so that the fees relate to the number of funds rather than the number of schemes. This means that, for example, an authorised fund manager of three schemes pays the same as an operator or authorised fund manager of one scheme with three sub-funds (as only the sub-funds are counted).
Schemes set up under section 264 of the Act are charged according to the number of funds or sub-funds which a firm is operating and marketing into the UK as at 31 March immediately before the start of the period to which the fee applies. For example, for 2010/11 fees a reference to 31 March means 31 March 2010.

FEES 4 Annex 5

Periodic fees for designated professional bodies payable in relation to the period 1 April 2010 to 31 March 2011

See Notes

handbook-rule
Table of fees payable by Designated Professional Bodies Notes
(1) The FSA register includes details of exempt professional firms carrying out insurance mediation activity.

FEES 4 Annex 6

Periodic fees for recognised investment exchanges and recognised clearing houses payable in relation to the period 1 April 2010 to 31 March 2011

See Notes

handbook-rule
Part 1 - Periodic fees for UK recognised bodies Part 2 - Periodic fees for overseas recognised bodies

FEES 4 Annex 7

Periodic fees in relation to the Listing Rules for the period 1 April 2010 to 31 March 2011

See Notes

handbook-rule
Table 1
Annual fees for issuers of securitised derivatives, depositary receipts and global depositary receipts
Table 2
Tiered annual fees for all other issuers
There is deducted from the fee specified in this Annex 0.0% of the fee payable to take into account financial penalties received by the FSA in the previous financial year.

FEES 4 Annex 8

Periodic fees in relation to the disclosure rules and transparency rules for the period 1 April 2010 to 31 March 2011

See Notes

handbook-rule
Table 1
Annual fees for non-listed issuers of securitised derivatives, depositary receipts and global depositary receipts
Table 2

FEES 4 Annex 9

Periodic fees in respect of securities derivatives for the period from 1 April 2010 to 31 March 2011

See Notes

handbook-rule


Part 1

This table shows the fee amount applicable to firms and market operators in respect of certain securities derivatives.

For the purposes of this Annex, a relevant contract is any contract entered into or settled by firms on or through LIFFE or Eurex Clearing AG in securities derivatives and the relevant period is 1 January 2009 to 31 December 2009 inclusive.

The fee shown in the table below for firms (but not for market operators) will be subject to a deduction of 7.5%, as if that fee were a periodic fee charged under FEES 4.3.3 R, and the deduction were a deduction set out in Part 2 of FEES 4 Annex 2 R.

FEES 4 Annex 10

Periodic fees for MTF operators payable in relation to the period 1 April 2010 to 31 March 2011

See Notes

handbook-rule

There is deducted from the fee specified in this Annex 7.5% of the fee payable to take into account financial penalties received by the FSA in the previous financial year.

FEES 4 Annex 11

Periodic fees in respect of payment services carried on by fee-paying payment service providers under the Payment Services Regulations in relation to the period 1 April 2010 to 31 March 2011

See Notes

handbook-rule

FEES 4 Annex 12

Guidance on the calculation of tariffs set out in FEES 4 Annex 1 R Part 2

See Notes

handbook-guidance
The following table sets out guidance on how a firm should calculate relevant tariffs. Fee block A.4