FEES 1

Fees Manual

FEES 1.1

01/01/2006

Application and Purpose

FEES 1.1.1-A

03/07/2015

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FEES applies to all persons required to pay a fee or levy under a provision of the Handbook. The purpose of this chapter is to set out to whom the rules and guidance in FEES apply. FEES 2 (General Provisions) contains general provisions which may apply to any type of fee payer. FEES 3 (Application, Notification and Vetting Fees) covers one-off fees payable on a particular event for example various application fees (including those in relation to authorisation, variation of Part 4A permission, listing and the Basel Capital Accord) and fees relating to certain notifications and document vetting requests. FEES 4 (Periodic fees) covers all periodic fees and transaction reporting fees.

Application

FEES 1.1.2

03/07/2015

  • R
This manual applies in the following way:
(1)  FEES 1, 2 and 3 apply to the fee payers listed in column 1 of the Table of application, notification and vetting fees in FEES 3.2.7 R and FEES 3.2.7A R.
(a) [deleted]
(b) [deleted]
(c) [deleted]
(d) [deleted]
(e) [deleted]
(f) [deleted]
(g) [deleted]
(h) [deleted]
(i) [deleted]
(j) [deleted]
(k) [deleted]
(l) [deleted]
(m) [deleted]
(n) [deleted]
(o) [deleted]
(p) [deleted]
(q) [deleted]
(r) [deleted]
(s) [deleted]
(2)  FEES 1, 2 and 4 apply to:
(a) every firm (except an AIFM qualifier, ICVC or UCITS qualifier);
(c) every ACD of an ICVC;
(d) every person who, under the constitution or founding arrangements of a recognised scheme , is responsible for the management of the property held for or within the scheme;
(f) every recognised body;
(g) under the Listing Rules every issuer of shares, depositary receipts and securitised derivatives;
(h) under the Listing Rules (LR) every sponsor;
(i) under the Disclosure Rules and Transparency Rules (DTR) every issuer of shares, depositary receipts and securitised derivatives;
(l)  every issuer of a regulated covered bond;
(m)  every AIFM applying to become a small registered UK AIFM and every small registered UK AIFM;
(n)  every AIFM notifying the FCA under regulation 57, 58 and 59 of the AIFMD UK regulation and every AIFM which has made such a notification; and
(o) each of the following that makes transactions reports directly to the FCA under SUP 17 (Transaction reporting):
(i) a firm;
(ii) a third party acting on a firm's behalf;
(iv) an operator of a regulated market; and
(v) an operator of an MTF.
(3)  FEES 1, 2 and 5 apply to:
(b) every other person who is subject to the Compulsory Jurisdiction in relation to relevant complaints.
(5)  FEES 1, 2 and 7 apply to:
(a) every person having a Part 4A permission;
(d) the Society;
(e) every fee-paying payment service provider except the Bank of England, government departments and local authorities;
(f) every fee-paying electronic money issuer except the Bank of England, government departments, local authorities, municipal banks and the National Savings Bank.
(6)  FEES App 1 Annex 1 applies to every:
(b)  sponsoring body; or
(c)  person who submits a proposal for the registration of a registered society;
each as defined in FEES Appendix 1.
FEES 1, 2 and 7 do not apply to an incoming EEA firm or an incoming Treaty firm that has not established a branch in the United Kingdom.
The application statement at FEES 1.1.2R (3) does not apply to FEES 5.5A, FEES 5 Annex 2R or FEES 5 Annex 3R.

FEES 1.1.3A

01/04/2013

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The rules in FEES should be read in conjunction with GEN 2.2.23 R to GEN 2.2.25 G. In relation to FEES, some rules are made by both the FCA and PRA. Those rules may contain obligations for or references to FCA-authorised persons (for example payment service providers and electronic money issuers) notwithstanding that they also are made by the PRA in order to apply them to PRA-authorised persons. GEN 2.2.23 R limits the application of those rules so that the PRA will only apply them in respect of PRA-authorised persons and not to such FCA-authorised persons as are specifically included within the rule.

Purpose

FEES 1.1.4

01/04/2013

  • G
The purpose of this manual is to set out the fees applying to the persons set out in FEES 1.

FEES 2

General Provisions

FEES 2.1

01/01/2006

Introduction

Application

FEES 2.1.1-A

03/07/2015

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This chapter applies to every person who is required to pay a fee or share of a levy to the PRA by a provision of the Handbook.

FEES 2.1.2

01/04/2013

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FEES 2.2.1R does not apply in respect of any fee payable under FEES 3 (Application, notification and vetting fees).

FEES 2.1.3

01/04/2013

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The provisions for late payments in FEES 2.2.1R do not apply to fees payable under FEES 3 as applications, notifications and requests for vetting are generally regarded as incomplete until the relevant fee is paid.

Purpose

FEES 2.1.4A

03/07/2015

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The purpose of this chapter is to set out the general provisions applicable to those who are required to pay fees or levies to the PRA.

FEES 2.1.5-A

03/07/2015

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Paragraph 31 of Schedule 1ZB of the Act enables the PRA to charge fees to cover its costs and expenses in carrying out its functions.

FEES 2.1.6

01/04/2013

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The appropriate regulator fees payable will vary from one fee year to another, and will reflect the appropriate regulator's funding requirement for that period and the other key components, as described in FEES 2.1.7G. Periodic fees, which will normally be payable on an annual basis, will provide the majority of the funding required to enable the appropriate regulator to undertake its statutory functions.

FEES 2.1.7A

03/07/2015

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The key components of the PRA fee mechanism (excluding levies relating to the FSCS) are:
(1) a funding requirement derived from:
(a) the PRA's financial management and reporting framework;
(b) the PRA's budget; and
(c) adjustments for audited variances between budgeted and actual expenditure in the previous accounting year, and reserves movements (in accordance with the PRA's reserves policy);
(2) mechanisms for applying penalties received during previous financial years for the benefit of fee payers;
(3) fee-blocks, which are broad groupings of fee payers offering similar products and services and presenting broadly similar risks to the PRA's regulatory objectives;
(4) a costing system to allocate an appropriate part of the funding requirement to each fee-block; and
(5) tariff bases, which, when combined with fee tariffs, allow the calculation of fees.

FEES 2.1.8

01/04/2013

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The amount payable by each fee payer will depend upon the category (or categories) of regulated activity or exemption, or other relevant activity applicable to that person (fee-blocks). It will, in most cases, also depend on the amount of the business that person conducts in each category (fee tariffs).

FEES 2.1.9

01/04/2013

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By basing fee-blocks on categories of business, the appropriate regulator aims to minimise cross-sector subsidies. The membership of the fee-blocks is identified in the FEES provisions relating to the type of fees concerned.

FEES 2.1.9A

01/04/2013

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PRA-authorised persons and persons seeking to become PRA-authorised persons should note that the FCA and the PRA have agreed for the FCA to act as the PRA's agent in relation to the collection of PRA fees. Where applicable, both PRA and FCA fees should be paid as a single payment to the FCA, which will receive the payment in its own capacity in respect of FCA fees and in its capacity as agent for the PRA in respect of the PRA fees. References to this arrangement will be referred to in FEES where applicable.

FEES 2.2

01/01/2006

Late Payments and Recovery of Unpaid Fees

Late Payments

FEES 2.2.1A

03/07/2015

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If a person does not pay the total amount of a periodic fee before the end of the date on which it is due, under the relevant provision in FEES 4, that person must pay an additional amount as follows:
(1) if the fee was not paid in full before the end of the due date, an administrative fee of £250; plus
(2) interest on any unpaid part of the fee at the rate of 5% per annum above the Official Bank Rate from time to time in force, accruing on a daily basis from the date on which the amount concerned became due.

FEES 2.2.2

04/10/2013

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The FCA , (for FCA and PRA periodic fees, FOS and FSCS levies and CFEB levies),expects to issue invoices at least 30 days before the date on which the relevant amounts fall due. Accordingly it will generally be the case that a person will have at least 30 days from the issue of the invoice before an administrative fee becomes payable.

Recovery of Fees

FEES 2.2.3A

03/07/2015

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Paragraphs 31(7) and 35 of Schedule 1ZB of the Act permits the PRA to recover fees as a debt owed to the PRA and the PRA will consider taking action for recovery (including interest) through the civil courts.

FEES 2.2.4A

03/07/2015

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In addition, the PRA may be entitled to take regulatory action in relation to the non-payment of fees. What action (if any) that is taken by the PRA will be decided upon in the light of the particular circumstances of the case.

FEES 2.3

01/01/2006

Relieving Provisions

Remission of Fees and levies

FEES 2.3.1A

03/07/2015

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If it appears to the PRA that in the exceptional circumstances of a particular case, the payment of any fee would be inequitable, the PRA may (unless FEES 2.3.2B R applies) reduce or remit all or part of the fee in question which would otherwise be payable.

FEES 2.3.2-A

03/07/2015

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If it appears to the PRA that in the exceptional circumstances of a particular case to which FEES 2.3.1A R does not apply, the retention by the PRA of a fee which has been paid would be inequitable, the PRA may (unless FEES 2.3.2C R applies) refund all or part of that fee.

FEES 2.3.2A

01/04/2013

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A poor estimate or forecast by a fee or levy payer, when providing information relevant to an applicable tariff base, is unlikely, of itself, to amount to an exceptional circumstance for the purposes of FEES 2.3.1 R or FEES 2.3.2 R. By contrast, a mistake of fact or law by a fee or levy payer may give rise to such a claim.

FEES 2.3.2C

03/07/2015

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The PRA may not consider a claim under FEES 2.3.1A R and/or FEES 2.3.2-A R to reduce, remit or refund any overpaid amounts paid by a fee payer in respect of a particular period, due to a mistake of fact or law by the fee payer, if the claim is made by the fee payer more than 2 years after the beginning of the period to which the overpayment relates.

FEES 2.4

01/04/2009

VAT

FEES 2.4.1

01/04/2013

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All fees payable or any stated hourly rate under FEES 3 (Application, notification and vetting fees), FEES 4 (Periodic fees) and FEES 7 (The CFEB levy) are stated net of VAT. Where VAT is applicable this must also be included.

FEES 3

Application, Notification and Vetting Fees

FEES 3.1

01/01/2006

Introduction

Application

FEES 3.1.1

01/04/2013

  • R
This chapter applies to every person set out in column 1 of the Table of application, notification and vetting fees in FEES 3.2.7 R and FEES 3.2.7A R.

FEES 3.1.2

01/04/2013

  • G
This chapter does not apply to:
(1) an EEA firm that wishes to exercise an EEA right; or

Purpose

FEES 3.1.3

01/04/2013

  • G
The purpose of this chapter is to set out the appropriate regulator fee paying requirements on the persons set out in FEES 1.1.2R (1).

FEES 3.1.4

01/04/2013

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Most of the detail of what fees are payable by the persons referred to in FEES 3.1.3 G is set out in FEES 3 Annex 1 - FEES 3 Annex 10 R.

FEES 3.1.5

01/04/2013

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(1) The rates set for authorisation fees represent an appropriate proportion of the costs of the appropriate regulator in processing the application or exercise of Treaty rights.
(2) [deleted]
(3) [deleted]

FEES 3.1.6

01/04/2014

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Applications for Part 4A permission (and exercises of Treaty rights) other than in respect of credit-related regulated activities are categorised by the appropriate regulator for the purpose of fee raising as straightforward, moderately complex and complex as identified in FEES 3 Annex 1. This differentiation is based on the permitted activities sought and does not reflect the appropriate regulator's risk assessment of the applicant (or Treaty firm).

FEES 3.1.7

01/04/2013

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A potential applicant for Part 4A permission (or Treaty firm) has the opportunity to discuss its proposed application (or exercise of Treaty rights) with the appropriate regulator before submitting it formally. If an applicant for Part 4A permission (or Treaty firm) does so, the appropriate regulator will be able to use that dialogue to make an initial assessment of the fee categorisation and therefore indicate the authorisation fee that should be paid.

FEES 3.1.8A

01/04/2014

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Application fees for applications for and variations of Part 4A permission in respect of credit-related regulated activities are also set out in FEES 3 Annex 1F. Applications for Part 4A permission in respect of credit-related regulated activities are categorised by the appropriate regulator for the purposes of fee raising as straightforward, moderately complex and complex as identified in FEES 3 Annex 1, unless the application is for a limited permission.

FEES 3.2

01/01/2006

Obligation to pay fees

General

FEES 3.2.1

01/04/2013

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A person in column (1) of the table in FEES 3.2.7 R and, if applicable, FEES 3.2.7A R as the relevant fee payer for a particular activity must pay to the FCA (in its own capacity or, if the fee is payable to the PRA, in its capacity as collection agent for the PRA) a fee for each application or request for vetting, or request for support relating to compatibility of its systems with appropriate regulator systems, or admission approval made, or notification or notice of exercise of a Treaty right given, or other matter as is applicable to it, as set out or calculated in accordance with the provisions referred to in column (2) of the appropriate table:
(1) in full and without deduction; and
(2) on or before the date given in column (3) of that table.

FEES 3.2.2

01/04/2013

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If an application for a Part 4A permission (or exercise of a Treaty right) falls within more than one category set out in FEES 3 Annex 1, only one fee is payable. That fee is the one for the category to which the highest fee tariff applies.

Method of payment

FEES 3.2.3

01/04/2014

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(1) Unless (2), (3) or (4) applies, the sum payable under FEES 3.2.1 R must be paid by bankers draft, cheque or other payable order.
(2)  The FCA does not specify a method of payment for a person seeking to:
(b) be added to the list of designated investment exchanges or accredited bodies.
(3) The sum payable under FEES 3.2.1 R by a firm applying for a variation of its Part 4A permission which is not an application for new permission solely in respect of one or more credit-related regulated activities ( FEES 3.2.7 R(p)(1) or FEES 3.2.7 R(p)(4) and, if applicable, FEES 3.2.7 R(c)) must be paid by any of the methods described in (1) or by Maestro, Visa Debit or credit card (Visa/Mastercard/American Express only).
(4) Unless FEES 3.2.3A R applies, the sum payable under FEES 3.2.1 R by a firm applying for a Part 4A permission in respect of credit-related regulated activities only or a variation of its Part 4A permission to add solely one or more credit-related regulated activities must be paid by Maestro, Visa Debit or credit card (Visa/Mastercard/American Express only).
(5) Payments by credit card must include an additional:
(a) 2% of the sum paid when paying by Visa or Mastercard; or
(b) 3.2% of the sum paid when paying by American Express.

FEES 3.2.3A

01/04/2014

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(1)  If the fee payer (as specified in column (1) of FEES 3.2.7 R) in relation to FEES 3.2.3R (4) is:
(a) unable to make a payment by credit or debit card; or
(b) permitted to make a paper application rather than an online application for a Part 4A permission in respect of credit-related regulated activities only or a variation of its Part 4A permission to add a credit-related regulated activity;
the sum payable under FEES 3.2.1 R can be paid by bankers draft, cheque or other payable order.

FEES 3.2.3B

01/04/2014

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If FEES 3.2.3AR (1)(a) applies to a fee payer, that fee payer would be expected to notify the FCA of these circumstances in advance of making its payment (and, in any event, no less than 7 days before the date on which the application for a Part 4A permission or the variation of a Part 4A permission is made) unless such notification is impossible in the circumstances, eg, there is a sudden technological failure.

FEES 3.2.5

23/07/2013

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(1) The appropriate authorisation or registration fee is an integral part of an application for, or an application for a variation of, a Part 4A permission , authorisation, registration or variation under the Payment Services Regulations or the Electronic Money Regulations, or notification or registration under the AIFMD UK regulation. Any application or notification received by the appropriate regulator without the accompanying appropriate fee, in full and without deduction (see FEES 3.2.1 R), will not be treated as an application or notification made, incomplete or otherwise, in accordance with section 55U(4), or section 55H or 55I (as the case may be), of the Act or regulation 5(3) or 12(3) of the Payment Services Regulations or regulation 5 or 12 of the Electronic Money Regulations or regulation 11(1) and 60(a) of the AIFMD UK regulation. Where this is the case, the appropriate regulator will contact the applicant to point out that the application cannot be progressed until the appropriate fee has been received. In the event that the appropriate authorisation fee, in full and without deduction, is not forthcoming, the application will be returned to the applicant and no application will have been made.
(2) With the exception of persons seeking to become a designated professional body, all applications, notifications, requests for vetting or admission approval will be treated as incomplete until the relevant fee is fully paid and the appropriate regulator will not consider an application, notification, request for vetting or admission approval until the relevant fee is fully paid. Persons seeking to become a designated professional body have 30 days after the designation order is made to pay the relevant fee.

FEES 3.2.6

01/04/2013

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Fees paid under this chapter are not refundable.

FEES 3.2.7A

19/06/2014

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Table of application, notification and vetting fees payable to the PRA

(1) Fee payer (2) Fee payable Due date
(a) Any applicant for Part 4A permission (including an incoming firm applying for top-up permission) which includes a PRA-regulated activity (1) Unless (2) applies, in respect of a particular application, the highest of the tariffs set out in FEES 3 Annex 1 R part 1 which apply to that application.
(2) In respect of a particular application which is:
(i) a straightforward or moderately complex case for the purposes of FEES 3 Annex 1 R part 1, and
(ii) 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 1 part 1.
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") 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 only (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 R, part 4. (2) Where a certificate in (1) has been issued no fee is payable. On or before the notice of exercise is given
(c) A firm applying for a variation of its Part 4A permission or an FCA-authorised person applying to carry on a PRA-regulated activity (1) Unless (2), (2A), (3), (3A) or (3B) applies, if the proposed new business of the firm would fall within one or more activity groups specified in Part 1 of FEES 4 Annex 1A or Part 1 of FEES 4 Annex 1B not applicable before the application, the fee is 50% of the highest of the tariffs set out in FEES 3 Annex 1 R 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 1 that would be payable under (1) above or, if higher, 50% of the highest of the tariffs set out in FEES 3 Annex 1 that would be payable in relation to the new credit-related regulated activity.
(2A) If the 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 1AR in the straightforward category (or if it exclusively applies for a number of such permissions), the fee is £250
(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 application.
(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 1 which apply to that application
(3B) If the applicant has a limited permission and its application exclusively relates to another limited permission, the fee is 0
(4) In all other cases, other than applications by credit unions, the fee payable is 125, 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.
On or before the date the application is made
(ca) 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 (c) 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.
(d) Any person to which the Special Project Fee for restructuring applies under FEES 3 Annex 9. Special Project Fee for restructuring in accordance with FEES 3 Annex 9 . 30 days of the date of the invoice.
(e) 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, 9,250 is payable to the PRA; or
(2) in the case of an insurance business transfer scheme not involving long term insurance business, 5,000 is payable to the PRA.
The amount payable to the PRA above is collected by the FCA as agent of the PRA.
On or before any application is made to the PRA for the appointment of a person as an independent expert.
(f) Either:
(i) a firm applying to the appropriate regulator for permission to use one of the internal approaches listed in FEES 3 Annex 6B (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 appropriate regulator asconsolidating supervisor under the EUCRR) any firm making such an application; or
(ii) in the case of an application tothe consolidating supervisor other than the appropriate regulator for the use of theIRB approach and the consolidating supervisor requesting the appropriate regulator's assistance in accordance with the EU CRR, any firm to which the appropriate regulator would have to apply any decision to permit the use of that approach.
(a)) Unless (2) applies, FEES 3 Annex 6B. (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 6B, 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 (f)(ii)of column 1 except in the cases specified in FEES 3 Annex 6B.
Where the firm has made an application directly to the appropriate regulator, on or before the date the application is made, otherwise within 30 days after the appropriate regulator notifies the firm that its EEA parent's consolidating supervisor has requested assistance.
(g) An applicant for a ceding insurer's waiver. 20,000 On or before the date the application is made.
(h) A person in respect of which the appropriate regulator 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. Any amount invoiced to the appropriate regulator by a skilled person in relation to any work carried out by that skilled person in connection with its appointment by the appropriate regulator pursuant to section 166(3)(b) of the Act. Within 30 days of the date of the invoice.
(i) A person in respect of which the appropriate regulator 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. Any amount invoiced to the appropriate regulator by a skilled person in relation to any work carried out by that skilled person in connection with its appointment by the appropriate regulator pursuant to section 166A(2)(b) of the Act. Within 30 days of the date of the invoice.

FEES 3 Annex 1

01/01/2006

Authorisation fees payable

31/03/2015

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Part 1 - Authorisation fees payable
For PRA-authorised persons and persons seeking to become PRA-authorised persons, the amount payable to the PRA is 50% of the amount payable under Part 1 and the amount payable to the FCA is 50% of the amount payable under Part 1. The amount payable to the PRA above is collected by the FCA as agent of the PRA.

For FCA-authorised persons and persons seeking to become FCA-authorised persons, the amount payable to the FCA is the amount payable under Part 1, No amount is payable to the PRA.
The table below sets out the following:
(1) fees for applications by credit unions and community finance organisations;
(2) application fees in respect of the complexity groupings that relate to regulated activities that are not credit-related regulated activities; and
(3) application fees in respect of the complexity groupings that relate to credit-related regulated activities.
Application type Amount payable (£)
(1) Credit unions and community finance organisations
(a) Credit unions - registration of a common bond 200
(aa) Credit unions or community finance organisations - where application is for a Part 4A permission limited to permission to carry on credit-related regulated activity 200
(b) Version 1 credit unions - authorisation (other than where (aa) applies) 300
(c) Version 2 credit unions - authorisation (other than where (aa) applies) 1,800
(2) Complexity groupings not relating to credit-related regulated activities - see Part 2
(d) Straightforward 1,500 (unless otherwise specified in Part 2)
(e) Moderately complex 5,000 (unless otherwise specified in Part 2)
(f) Complex 25,000
(3) Complexity groupings relating to credit-related regulated activity - see Part 3
  Consumer credit annual income (£)
  0 - 50,000 > 50,000
(g) Limited permission 100 unless the application is for limited permission as a not-for-profit debt advice body, in which case the amount payable is 0 500 unless the application is for limited permission as a not-for-profit debt advice body, in which case the amount payable is 0
  Consumer credit annual income (£)
  0 -50,000 > 50,000 - 100,000 > 100,000 - 250,000 > 250,000 - 1,000,000 > 1,000,000
(h) Straightforward 600 750 1,000 1,500 5,000
(i) Moderately complex 800 1,000 1,500 5,000 10,000
(j) Complex 1,000 1,250 2,000 7,000 15,000
Part 2 - Complexity Groupings not relating to credit-related regulated activitiesStraightforward Cases
Straightforward cases
Activity grouping Description
A.3 Friendly societies only
A.4 Friendly societies only
A.10 A firm to the extent it is bidding in emissions auctions
A.13 Advisors, arrangers, dealers or brokers
A.14 Corporate finance advisers
A.18 Home finance providers , advisers and arrangers (excluding home finance providers ).
A.19 General insurance mediation
A.21 Holding client money or assets or both.
Moderately Complex Cases
Moderately complex cases
Activity grouping Description
[deleted] [deleted]
A.2 Home finance providers and administrators.
A.3 UK ISPVs
[deleted] [deleted]
A.5 Managing agents at Lloyd's
A.7 Portfolio managers
A.9 Managers and depositaries of investment funds, and operators of collective investment schemes or pension schemes
A.10 Firms dealing as principal , except to the extent the firm is bidding in emissions auctions
B. Service companies
Complex Cases R
Complex cases
Activity grouping Description
A.1 Deposit acceptors (excluding e-money issuers and credit unions) and dormant account fund operators
A.3 Insurers - general (excluding friendly societiesand UK ISPVs)
A.4 Insurers - life (excluding friendly societies)
B MTF operators
Part 3 - Complexity Groupings relating to credit-related regulated activity

Straightforward cases
Activity grouping Description
CC.2 Credit broking;
Providing credit information services ;
Advising on regulated credit agreements for the acquisition of land
Moderately complex cases
Activity grouping Description
CC.2 Debt administration
Debt collecting
Entering into a regulated consumer hire agreement as owner
Entering into a regulated credit agreement as lender (excluding in relation to high-cost short-term credit, bill of sale loan agreements and home credit loan agreements)
Exercising, or having the right to exercise, the owner's rights and duties under a regulated consumer hire agreement
Exercising, or having the right to exercise, the lender's rights and duties under a regulated credit agreement (excluding in relation to high-cost short-term credit, bill of sale loan agreements and home credit loan agreements)
Operating an electronic system in relation to lending
Complex cases
Activity grouping Activity grouping
CC.2 Debt adjusting
Debt counselling
Entering into a regulated credit agreement as lender in relation to high-cost short-term credit, bill of sale loan agreements and home credit loan agreements
Exercising, or having the right to exercise, the lender's rights and duties under a regulated credit agreement in relation to high-cost short-term credit, bill of sale loan agreements and home credit loan agreements
Providing credit references
Part 4 - Authorisation Fees for Treaty Firms R
If the Treaty firm wishes to undertake the permitted activities in question through its branch in the United Kingdom, the fee is 50% of the fee that would be payable under FEES 3.2.7 R and/or FEES 3.2.7A R for an applicant for Part 4A permission.
If the Treaty firm wishes to undertake the permitted activities in question by providing services in the United Kingdom, the fee is 25% of the fee which would be payable under FEES 3.2.7 R and/or FEES 3.2.7A R for an applicant for Part 4A permission .
Part 5 - Activity Groupings R
The activity group definitions are set out in FEES 4 Annex 1A and FEES 4 Annex 1B.
Part 6 - Change of legal status
An application involving only a simple change of legal status for the purposes of FEES 3.2.7 R, FEES 3.2.7A R (a), FEES 3.2.7R (y), FEES 3.2.7R (za) , FEES 3.2.7 R (zg) and FEES 3.2.7 R (zh) is from an applicant:
(1) which is a new legal entity intending to carry on the business, using the same business plan, of an existing firm with no outstanding regulatory obligations cancelling its Part 4A permission or authorisation or registration under the Payment Services Regulations or the Electronic Money Regulations, and
(2) which is to:
  (a) have the same or narrower permission, scope of authorisation or registration under the Payment Services Regulations or Electronic Money Regulations and the same branches (if any), as the firm;
  (b) assume all of the rights and obligations in connection with any ofthe regulated activities, payment services and electronic money issuance carried on by the firm;
  (c) continue the same compliance arrangements and compliant client asset and client money procedures, as the firm, subject to any changes required only as a result of the change of legal status;
  (d) continue with a risk profile and arrangements for controlling and monitoring risk which will not be materially different from those of the firm; and
  (e) have the individuals within the firm that are responsible for insurance mediation activity perform the same role for the applicant.
Part 7 - Change of legal status - sponsors fees
An application involving only a simple change of legal status for the purposes of FEES 3.2.7 R(j) is from an applicant:
(1) which is a new legal entity intending to carry on the business of an existing sponsor (as defined in the listing rules) in respect of which the FCA does not currently require, and is not proposing to require, remedial action relating to any aspect of its provision of sponsor services); and
(2) which (subject to any changes required only as a result of the change in legal status) is to:
  (a) assume all of the rights and obligations in connection with any of the sponsor activities of the existing sponsor under the listing rules;
  (b) make no changes to the systems and controls of the existing sponsor which ensure that the existing sponsor can carry out its role as sponsor in accordance with LR 8 (Sponsors: Premium listing);
  (c) have the individuals within the existing sponsor that are engaged in the provision of sponsor services engaged in the same role for the applicant; and
  (d) otherwise continue to comply in all respects with the criteria for approval as a sponsor set out in LR 8.6.5 R.

01/01/2014

  • R
Part 2
Fees payable in relation to the application for a permission to use the internal model method for counterparty credit risk under article 283 of the EUCRR: 54,000

FEES 3 Annex 6B

01/01/2014

Part 1

01/01/2014

  • R
Fees payable in relation to internal approaches that require permission under Part Three of the EU CRR other than internal model method for counterparty credit risk:

(1) Subject to (3), for applications made to the appropriate regulator to authorise a new internal approach:

(i) where the application relates to CRDcredit institutions or designated investment firms and to five or more significant overseas entities within the same group (Group 1) and the application is for a permission to use one of the internal approaches in Tables 1 or 2 or guidance on the availability of such a permission, the fees in Table 1 are applicable.

(ii) for all other CRDcredit institutions or designated investment firms the fees in Table 2 are applicable.

(2) Subject to (3), for applications made to the consolidating supervisor other than the appropriate regulator for a joint decision under Article 20 of the EUCRR on the use of one of the internal approaches in Tables 1 or 2 and where the appropriate regulator is requested to assist the consolidating supervisor, the fees in Table 1 and Table 2 are applicable if the firm concerned meets the following conditions:

(i) it is a CRDcredit institutions; and

(ii) the firm does not fall within Group 4 as defined in Table 2.

(3) If however the application or request for assistance is in relation to the use of the Advanced IRB approach and the appropriate regulator (in the case of (1)) or the relevant consolidating supervisor (in the case of (2)) has already granted permission for the use of the Foundation IRB approach then table 3 applies.

(4) References to the internal approaches in Tables 1, 2 and 3 shall be construed as follows:

(i) Foundation IRB means the internal approach for credit risk referred to in Article 143(1) of the EUCRR;

(ii) Advanced IRB means the internal approach for credit risk referred to in Article 151(4) and (9) of the EUCRR; and

(iii) AMA means the internal approach for operational risk referred to in 312(2) of the EUCRR.

(5) All fees are shown in £.
Table 1
Application group Description of group Application fee
Advanced IRB ('000) Foundation IRB ('000) AMA ('000)
Group 1 Five or more significant overseas entities as described in more detail in the definition of Group 1 in the introduction to Part 1 of this Annex 268 232 181
Table 2
Application group Description of Group Application fee
Modified eligible liabilities Number of traders as at 31 December prior to the PRA's fee year in which the fee is payable Advanced IRB ('000) Foundation IRB ('000) AMA ('000)
Group 2 >40,000 >200 232 198 146
Group 3 >5,000 - 40,000 26 - 200 94 72 51
Group 4 0-5,000 0 - 25 42 30 24
(1) For the purposes of Table 2, a firm's A.1 or A10 tariff data for the relevant period will be used to provide the value of modified eligible liabilities or number of traders.

Table 3 (Advanced IRB approach where the appropriate regulator or the consolidating supervisor has already given permission to use Foundation IRB)
Application group Advanced IRB Application fee
Group 1 67,000
Group 2 58,000
Group 3 23,500
Group 4 10,500
The four application groups have the same meaning as they do in Tables 1 and 2


Part 2

Fees payable in relation to the application for a permission to use the internal model method for counterparty credit risk under Article 283 of the EUCRR: 54,000

FEES 3 Annex 9

01/06/2009

Special Project Fee for restructuring

FEES 3 Annex 9

30/06/2015

  • R
(1) R   The Special Project Fee for restructuring (the SPFR) is only payable by a person in one of the following categories:
  (a) if it is in any of the A fee-blocks (as defined in Part 1 of FEES 4 Annex 1A in respect of the FCA and Part 1 of FEES 4 Annex 1B in respect of the PRA); or
  (b) if it is in fee-block G.3 (as defined in FEES 4 Annex 11); or
  (c) if it is a recognised investment exchange; or
  (d) [deleted]
  (e) if it is in any of the B fee-blocks (as defined in Part 1 of FEES 4 Annex 1A and FEES 4 Annex 1B).
(2) R   The SPFR becomes payable by a person falling into (1)(a) or (b) if it engages in, or prepares to engage in, activity which involves it undertaking or making arrangements with a view to any of the following:
  (a) raising additional capital; or
  (b) a significant restructuring of the firm or the group to which it belongs, including:
    (i) mergers or acquisitions;
    (ii) reorganising the firm'sgroup structure; and
    (iii) reattribution.
(3) R   No SPFR is payable under (2) if the transaction only involves the firm seeking to raise capital within the group to which it belongs.
(4) R   Where the transaction in (2) involves raising capital outside the group to which the firm belongs, any SPFR in relation to that transaction is only payable by the largest firm in that group. The largest firm is the one that pays the highest periodic fee in the appropriate regulator fee year in which the bill is raised. For the purpose of the calculation in (9), all time spent and fees and disbursements incurred in relation to the group are added together.
(5) R   The definition of group is limited for the purposes of calculating the SPFR to parent undertakings and their subsidiary undertakings.
(6) R   The SPFR also becomes payable by any person falling into (1) if any of the following circumstances apply to it:
  (a) an insolvency order is in effect as respects the person or the person is being voluntarily wound up or steps are being taken for the making of an insolvency order or voluntary winding up of, or with respect to, the person by someone entitled to take such steps; or
  (b) the Bank of England or the Treasury have exercised a stabilisation power in respect of the person under the Banking Act 2009.
(7) R   In (6):
  (a) references to an insolvency order or winding up include the equivalent process in any jurisdiction outside the United Kingdom; and
  (b) references to an insolvency order include such an order made under the Banking Act 2009.
(7A)R   The FCA and the PRA will levy separate SPFRs. The use of the term "appropriate regulator" in FEES 3 Annex 9R refers to the regulator levying the SPFR.
(8) R   Subject to FEES TP 8.1R, no SPFR is payable to an appropriate regulator:
  (a) if the amount calculated in accordance with (9) in relation to the regulatory work conducted by the appropriate regulator totals less than 50,000; or
  (b) for time spent giving guidance to the person in relation to the same matter if the appropriate regulator has charged that person for that guidance.
(9) R   The SPFR for the appropriate regulator is calculated as follows:
  (a) Determine the number of hours, or part of an hour, taken by the appropriate regulator, or, if applicable, both the FCA and PRA under FEES TP 8.1R, in relation to regulatory work conducted as a consequence of the activities referred to in (2) or (6).
  (b) Next, multiply the applicable rate in the table at (11) by the number of hours or part hours obtained under (a).
  (c) Then add any fees and disbursements invoiced to the appropriate regulator by any person in respect of services performed by that person for the appropriate regulator in relation to assisting the appropriate regulator in performing the regulatory work referred to in (a).
  (d) The resulting figure is the fee.
  (e) The number of hours or part hours referred to in (a) are the number of hours or part hours as recorded on the appropriate regulator's systems in relation to the regulatory work referred to in (a).
(10) R   The first column in the table at (11) sets out the relevant pay grades of those employed by the appropriate regulator and the second column sets out the hourly rates chargeable in respect of those pay grades.
(11) R Table of FCA hourly rates:
  FCA pay grade Hourly rate ()
  Administrator 30
  Associate 60
  Technical Specialist 100
  Manager 110
  Any other person employed by the FCA 170
(11)AR Table of PRA hourly rates:
  PRA pay grade Hourly rate (£)
  Administrator 30
  Associate 60
  Technical Specialist 90
  Manager 115
  Any other person employed by the PRA 170
(12) G The obligation to pay the SPFR is ongoing. Accordingly, there is no limitation on the number of times that the appropriate regulator may invoice a person for the SPFR in relation to the same events or circumstances referred to in (2) or (6). If the appropriate regulator does so, there is a single floor under (8)(a) and not a separate one for each instalment. Therefore, for example, if a person is subject to an administration order, the appropriate regulator may invoice the person on a periodic basis for all the related regulatory work, but may only do so once the total fee (including disbursements) equals 50,000.
(13) G If the SPFR is payable, the full amount calculated under (9) is payable not just the excess over 50,000.
(14) G The SPFR is a single fee. Therefore the SPFR may be payable under both (2) and (6). If it is payable under both, there is only a single floor under (8)(a), not two separate ones.

FEES 3 Annex 10

01/06/2012

Fees payable for authorisation as an authorised electronic money institution or registration as a small electronic money institution or variation thereof, including notification fees, in accordance with the Electronic Money Regulations

01/04/2013

  • R
Authorisation, registration and variation fees payable
Application type for authorisation, registration, variation or notification under Part 2 of the Electronic Money Regulations Amount payable
(1) small electronic money institution 1,000
(2) authorised electronic money institution 5,000
(3) electronic money institution - where, at the time the application is made, the applicant intends to use agents 3 for each agent registered with the FCA at the time of application.
This fee is in addition to any fees due under paragraph (1) or (2) of this table.
(4) electronic money institution - where, during the course of the FCA financial year (12 months ending 31 March), the firm notifies the FCA of any changes to the list of agents it has registered since its authorisation 3 for each change notified to the FCA during the FCA financial year.
No fee is due under paragraph (4) if the total number of notifications to the FCA during the FCA financial year numbers 100 or less.

FEES 3 Annex 11

01/04/2013

Guidance on fees due under FEES 3.2.7R and FEES 3.2.7AR

01/04/2013

  • G
The following table sets out guidance on how a firm liable to pay a fee under both FEES 3.2.7 R (s) and FEES 3.2.7 R (ze) in respect of fees payable to the FCA and FEES 3.2.7AR(e) and FEES 3.2.7AR(d) in respect of fees payable to the PRA for the same transaction should expect to be treated.

Firms liable under both FEES 3.2.7R(s) and FEES 3.2.7R(ze) in respect of fees payable to the FCA and FEES 3.2.7AR (e) and FEES 3.2.7AR(d) in respect of fees payable to the PRA
(1) The transferor in insurance business transfer schemes is liable to pay the fee set out in FEES 3.2.7 R (s) and/or FEES 3.2.7AR(e). However, it may also be liable to pay the Special Project Fee for restructuring set out in FEES 3.2.7 R (ze) and/or FEES 3.2.7AR(d), calculated in accordance with FEES 3 Annex 9. It is possible then for a firm to have to pay two types of fees in respect of the same insurance business transfer scheme.
(2) Where the situation described in (1) arises, the appropriate regulator will consider whether to reduce or remit a fee under FEES 2.3 (Relieving Provisions).

FEES 4

Periodic fees

FEES 4.1

01/01/2006

Introduction

Application

FEES 4.1.1

01/04/2013

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

Purpose

FEES 4.1.2

01/04/2013

  • G
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

01/04/2014

  • G
Most of the detail of the periodic fees that are payable by firms is set out in FEES 4 Annexes 1A to 11BR. FEES 4 Annex 12 G and (for the FCA only) FEES 4 Annex 13G provide guidance on the calculation of certain tariffs. Most of the provisions of the Annexes will vary from one fee year to another. Accordingly fresh FEES 4 Annexes will come into force, following consultation, for each fee year .

FEES 4.1.5

01/04/2013

  • G
The Society of Lloyd's, which has permission, has its own fee block.

FEES 4.1.7

01/04/2013

  • G
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

01/01/2006

Obligation to pay periodic fees

General

FEES 4.2.1

01/04/2013

  • R
A person shown in column (1) of the table in FEES 4.2.11 Rand, if applicable, FEES 4.2.11AR 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 the applicabletable, as adjusted by any relevant provision in this chapter:
(1) in full and without deduction (unless permitted or required by a provision in FEES); and
(2) on or before the date given in column (3) of that table, unless FEES 4.2.10 R applies.

FEES 4.2.2

01/04/2013

  • G
(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 Rand/or FEES 4.2.11AR (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 Rand/or FEES 4.2.11AR (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) [deleted]

FEES 4.2.3

01/04/2013

  • G
The FCA will issue invoices in respect of the FCA and PRA 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

01/07/2013

  • R
(1) A periodic fee must be paid using either direct debit, credit transfer (BACS/CHAPS), cheque, Maestro, Visa Debit or by credit card (Visa/Mastercard only). Any payment by permitted credit card must include an additional 2% of the sum paid.
(2) [deleted]

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

FEES 4.2.6

31/03/2015

  • R
(1) For the fee year during which the event described in column 4 of the table in FEES 4.2.11 R and/or FEES 4.2.11AR, giving rise to, or giving rise to an increase in, the fee payable in FEES 4.2.1 R occurs , the periodic fee required under FEES 4.2.1 R is modified for:
(a)  firms (other than AIFM qualifiers, ICVCs and UCITS qualifiers) in accordance with FEES 4.2.7 R and FEES 4.2.8 R;
(b) all other fee payers in column (1) of the table in FEES 4.2.11 R or FEES 4.2.11A R, in accordance with the formula set out below.
Formula for the calculation of fees payable under FEES 4.2.6R (1)
(1) calculate the number of calendar months between and including:
  (i) the calendar month in which the event described in column 4 of the table in FEES 4.2.11 R and/or FEES 4.2.11A R occurred; and
  (ii) the last month of the relevant fee year;
(2) divide the number of calendar months calculated in (1) by 12;
(3) multiply the total fee payable for the relevant fee year by the number calculated in (2).
(2) [deleted]

FEES 4.2.7

01/04/2014

  • R
A firm (other than an AIFM qualifier, ICVC or UCITS qualifier) which becomes authorised or registered, or whose permissionand/or payment service activities are extended, during the course of the fee year must pay a fee which is calculated by:
(1) identifying each of the tariffs set out in Part 1 of FEES 4 Annex 2AR, Part 1 of FEES 4 Annex 2BR and/or Part 1 of FEES 4 Annex 11 as appropriate for the relevant fee year that apply to the firm only after the permission is received or extended or payment service activities are authorised or registered or extended or electronic money issuance activities are authorised or registered under the Electronic Money Regulations;:
(2) calculating the amount for each of the applicabletariffs which is the higher of:
(a) any applicable minimum fee specified in relation to a particular tariff in FEES 4 Annex 2AR or FEES 4 Annex 2BR (but note, for the avoidance of doubt, that these are not the A.0 or PA.0 minimum fees set out under Part 2 of FEES 4 Annex 2AR and Part 2 of FEES 4 Annex 2BR); and
(b) the result of applying the tariff to the projected valuation, for its first year (as provided in the course of the firm's application), of the business to which the tariff relates;
(3) adding together the amounts calculated under (2) in relation to fees payable to the FCA and, if applicable, separately adding together the amounts calculated under (2) in relation to the fees payable to the PRA;;
(4) working out whether an A.0 or a PA.0 minimum fee is payable under Part 2 of FEES 4 Annex 2AR or Part 2 of FEES 4 Annex 2BR (except that minimum fee is not payable again by a firm whose permission is extended if the fee was already payable before the extension);
(4A) working out whether an AP.0 FCA prudential fee is payable under Part 2 of FEES 4 Annex 2AR and if so how much;
(4B) working out whether a PT.1 PRA transitional fee is payable under Part 2 of FEES 4 Annex 2BR and if so how much;
(5)  adding together the amounts calculated under (3), (4) and (4A) that relate to fees payable to the FCA and then adding this sum to any applicable flat rate fee, and, if applicable, separately adding together the amounts calculated under (3), (4) and (4B) that relate to fees payable to the PRA and then adding this sum to any applicable flat rate fee; and
(6) modifying the result for the FCA and, if applicable, the PRAin accordance with the formula set out in FEES 4.2.6 R (except that FEES 4 Annex 10R (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 fee year and FEES 4.2.6 R does not apply).

FEES 4.2.7A

01/04/2013

  • G
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 registered, 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 fee year in which the firm was authorised or registered or its permissionand/or payment service activities were extended (adjusted in accordance with FEES 4.2.7 R) and to calculate the periodic fee for the following fee year . Projected valuations are not relevant for those fee payers that are only required to pay fixed fees.

FEES 4.2.7B

01/04/2013

  • R
(1)  This rule deals with the calculation of:
(a) a firm's fees for its second and subsequent fee year. These are the fee years years following the fee year in which it was given permission and/or was authorised or registered under the Payment Services Regulations or the Electronic Money Regulations or had its permission and/or payment services activities extended (the relevant permissions); and
(b) the tariff base for the fee block or fee blocks that relate to each of the relevant permissions.
(2)  The starting point for calculating the fees referred to in (1)(a) is determining whether or not the firm's tariff base for the relevant fee year can be calculated using data from a complete period (as specified in Part 5 of FEES 4 Annex 1AR, Part 5 of FEES 4 Annex 1BR or Part 4 of FEES 4 Annex 11 R) that begins on or after the date that the firm obtained the relevant permission to which that tariff base relates.
(a) If it can, the firm must use that data for calculating its tariff base.
(b) If it cannot, the tariff base must be calculated using the projected valuations for its first year of the business to which the tariff relates (as provided in the course of the firm's application), unless (5)(b) or 5(c) applies.
(3) This rule does not apply to a firm with a permission for operating a multilateral trading facility.
(4) [deleted]
(5) 
(a) [deleted]
(b) If a firm:
(i) receives a relevant permission between 1 April and 31 December inclusive; and
(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;
it must calculate that tariff base as at the December before the start of the fee year .
(c) If a firm:
(i) is, but for this rule, required to calculate its tariff base for the relevant permission by reference to the firm's financial year ended in the calendar year ending on the 31 December before the start of the fee year and, since obtaining the relevant permission, the firm has yet to complete a full financial year ended in the calendar year ending on the 31 December before the start of the fee year; or
(ii) is, but for this rule, required to calculate its tariff base by reference to the twelve months ending on the 31 December before the start of the fee year and, since obtaining the relevant permission, the firm has yet to complete a full twelve months ending on the 31 December before the start of the fee year;
it must calculate the tariff base under (d) below unless it is in its second fee year and was authorised between 1 January and 1 April (in which case it must use the projected valuations provided for in (2)(b) above).
(d) If a firm satisfies either of the conditions in (c) it must calculate its tariff base as follows:
(i) it must use actual data in relation to the business to which the tariff relates rather than projected valuations;
(ii) in respect of firms satisfying condition (5)(c)(i), 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 either the 31 December before the start of the fee year or, if earlier, the start date of the firm's financial year; and

in respect of firms satisfying condition (5)(c)(ii), the tariff is calculated by reference to the period beginning on the date on which it acquired the relevant permission, and ending on the 31 December before the start of the fee year
(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 to the relevant period end date specified in (ii).
(e) Where a firm is required to use the method in (d) it must notify the FCA (in its own capacity and, if applicable, in its capacity as collection agent for the PRA) of this by the date specified in FEES 4.4 (Information on which Fees are calculated).
(f) Where a firm is required to use actual data under this rule FEES 4 Annex 1AR Part 5, FEES 4 Annex 1BR Part 5 and FEES 4 Annex 11 Part 4, are modified, where applicable, in relation to the calculation of that firm's valuation date in the fee years to which this rule applies.

Application of FEES 4.2.7BR

FEES 4.2.7C

01/04/2013

  • G
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 appropriate regulator's fee year unless otherwise stated.
Type of permission acquired on 1 November Tariff base Valuation date but for FEES 4.2.7BR Data period under FEES 4.2.7BR
Accepting deposits (monthly reporting firms) Modified eligible liabilities (MELs) Average of the MELs for October, November, December - so projected valuations will be used MELs for December 2009.
Accepting deposits (quarterly reporting firms) MELs December 2009 December 2009.
Entering into a home finance transaction Number of mortgages, home purchase plans or home reversion plans entered into 12 months ending 31 December 2009 - so projected valuations will be used 1 November to 31 December 2009.
Effecting contracts of insurance
(Insurers - general)
Gross premium income and gross technical liabilities 31 March 2009 - so projected valuations will be used 1 November to 31 December 2009.

FEES 4.2.8

01/04/2013

  • R
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 servicesand electronic money issuance, 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

01/04/2013

  • G
The appropriate regulator will not refund periodic fees if, after the start of the period to which they relate:
(1) a fee payer ceases to have the status set out in column (1) of the table in FEES 4.2.11 R or FEES 4.2.11AR; or
(2) a firm reduces its permissionor 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

01/04/2013

  • R
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) 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) 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 FCA (in its own capacity or in its capacity as agent for the PRA) 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 FCA sends the notification.

FEES 4.2.10A

02/04/2015

  • R
A CRR firm 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 that date falls during a period during which circumstances of the sort set out in General Provisions 2.2 in the PRA Rulebook exist, and that firm has reasonable grounds to believe that those circumstances impair its ability to pay the fee, in which case the firm must pay it on or before the fifth business day after the end of that period.

FEES 4.2.11A

01/04/2013

  • R
Table of periodic fees payable to the PRA
1 Fee payer 2 Fee payable 3 Due date 4 Events occurring during the period leading to modified periodic fee
Any firm As specified in FEES 4.3.1 R in relation to FEES 4 Annex 2BR (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 year, 30 days after the occurrence of that event, or if later the dates specified in FEES 4.3.6 R.
Firm receives permission; or firm extends permission

FEES 4.3

23/07/2013

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

FEES 4.3.1

23/07/2013

  • R
The periodic fee payable by a firm (except an AIFM qualifier, ICVC or a UCITS qualifier) is:
(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
(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
(2) any deductions from the periodic fee specified in Part 2 of FEES 4 Annex 2AR, FEES 4 Annex 2BR or Part 7 of FEES 4 Annex 11.

FEES 4.3.2

01/04/2014

  • G
(1) The amount payable by each firm will depend upon the category (or categories) of regulated activitiesor payment servicesit is engaged in (fee-blocks)and whether it is issuing electronic money,and on the amount of business it conducts in each category (tariff base). The fee-blocks and tariffs are identified in FEES 4 Annex 1AR in respect of the FCA and FEES 4 Annex 1BR in respect of the PRA (and guidance on calculating certain of the tariffs is at FEES 4 Annex 12 G and (for the FCA only) FEES 4 Annex 13G), while FEES 4 Annex 2AR in respect of the FCA and FEES 4 Annex 2BR in respect of the PRA set out the tariff rates for the relevant fee year. In the case of firms that provide payment services and/or issue electronic money, the relevant fee blocks, tariffs and rates are set out in FEES 4 Annex 11.
(2)  Incoming EEA firms, incoming Treaty firms , EEA authorised payment institutions and EEA authorised electronic money institutionsreceive a discount to reflect the reduced scope of the appropriate regulator'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 appropriate regulator 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 and fee-paying electronic money issuers)

FEES 4.3.3

01/04/2014

  • R
The periodic fee referred to in FEES 4.3.1 R is (except in relation to the Society, fee-paying payment service providers and fee-paying electronic money issuers) calculated as follows:
(1) identify each of the tariffs set out in Part 1 of FEES 4 Annex 2AR and Part 1 of FEES 4 Annex 2BR which apply to the business of the firm for the period specified in that annex;
(2) for each of the applicabletariffs, calculate the sum payable in relation to the business of the firm for that period;
(3) add together the amounts calculated under (2) in relation to fees payable to the FCA and, if applicable, separately add together the amounts calculated under (2) in relation to the fees payable to the PRA;
(4) work out whether an A.0, CC.0 or a PA.0 minimum fee is payable under Part 2 of FEES 4 Annex 2AR and Part 2 of FEES 4 Annex 2BR 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);
(4A)  work out whether an AP.0 FCA prudential fee is payable under Part 2 of FEES 4 Annex 2AR and if so how much;
(4B)  work out whether a PT.1 PRA transitional fee is payable under Part 2 of FEES 4 Annex 2BR and if so how much;
(5)  add together the amounts calculated under (3), (4) and (4A) that relate to fees payable to the FCA and, if applicable, separately adding together the amounts calculated under (3), (4) and (4B) that relate to fees payable to the PRA; and
(6)  apply any applicable payment charge specified in FEES 4.2.4 R, provided that:
(a) for payment by direct debit, successful collection of the amount due is made at the first attempt by the FCA (in its own capacity and, if applicable, in its capacity as agent for the PRA); or
(b) for payment by credit transfer, the amount due is received by the FCA (in its own capacity and, if applicable, in its capacity as agent for the PRA) on or before the due date.

Modification for firms with new or extended permissions

FEES 4.3.4

01/04/2013

  • G
(1) A firm which becomes authorised or registered during the course of a fee 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 permissionor the right to provide particular payment servicesor the right to issue electronic money - see FEES 4.2.5 G and FEES 4.2.6 R.
(2) Similarly a firm which extends its permissionor its right to provide particular payment servicesso 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.
(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 FCA during the course of a fee year.

Amount payable by the Society of Lloyd's

FEES 4.3.5

01/04/2013

  • R
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 2AR and FEES 4 Annex 2BR.

Time of payment

FEES 4.3.6

01/07/2013

  • R
(1) Subject to FEES TP 8, if the firm's, designated professional body's, recognised investment exchange's, or regulated covered bondissuer'speriodic fee for the previous fee year was at least £50,000, it must pay the FCA:
(a) an amount equal to 50% of the FCA periodic fee payable for the previous fee year, by 30 April or, if later, within 30 days of the date of the invoice, in the fee yearto which the sum due under FEES 4.2.1 R relates; and
(b) the balance of the FCA periodic fee due for the current fee year by 1 September or, if later, within 30 days of the date of the invoice, in the fee yearto which that sum relates.
(1A)  Subject to FEES TP 8, if the firm is also a PRA-authorised person and its periodic fee for the previous fee year was at least 50,000, it must pay the PRA (through the FCA acting as its collection agent):
(a) an amount equal to 50% of the PRA periodic fee payable for the previous fee year, by 30 April in the fee year to which the sum due under FEES 4.2.1 R relates; and
(b) the balance of the PRA periodic fee due for the current fee year by 1 September or, if later, within 30 days of the date of the invoice, in the fee year to which that sum relates.
(1B)  If the firm paid periodic fees to both the FCA and the PRA in the previous fee year, FEES 4.3.6R (1) and (1A) only apply if the firm's combined FCA and PRA periodic fees for that fee year were at least £50,000.
(2) If the firm's, designated professional body's, recognised investment exchange's, or regulated covered bondissuer'speriodic fee for the previous fee year was less than £50,000, it 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 fee year to which that sum relates.
(3) If a firm has applied to cancel its Part 4A 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), or its status as an electronic money issuer under regulation 10 of the Electronic Money Regulations (Cancellation of authorisation) or as regulation 10 is applied by regulation 15 of the Electronic Money Regulations (Supplementary provisions), then (1) and (2) do not apply but it must pay the total amount due when the application is made.
(4) If the appropriate regulator has exercised its own-initiative powers to cancel a firm's Part 4A permission , then (1) and (2) do not apply but the firm must pay the total amount due immediately before the cancellation becomes effective.
(4A) If the FCA has cancelled a firm's authorisation or registration under regulation 10 of the Payment Services Regulations or regulation 10 of the Electronic Money Regulations or its registration under regulation 10 as applied by regulation 14 of the Payment Services Regulations or its registration under regulation 10 as applied by regulation 15 of the Electronic Money Regulations, then (1) and (2) do not apply but the firm must pay the total amount due immediately before the cancellation becomes effective.
(5) [deleted]
(5A) (In relation to PRA-authorised persons only) paragraphs (1A) and (2) do not apply to any Solvency 2 Special Project fee or Solvency 2 Implementation fee (as defined in FEES 4 Annex 2B) and such fees are not taken into account for the purposes of the split in (1A). Instead any Solvency 2 Special Project fee or Solvency 2 Implementation fee is payable on the date specified in (1A)(b) or (2) (depending on which applies to the rest of its periodic fee) or any earlier date required by (3) or (4).
(6)  Paragraphs (1) and (2) do not apply to any periodic fee in relation to a firm'spermission 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).

FEES 4.3.6A

19/06/2014

  • R
If a firm has applied to cancel its Part 4A permission in the way set out in Permissions and Waivers 2 of the PRA Rulebook, then FEES 4.3.6R (1) and (2) do not apply but it must pay the total amount due when the application is made.

Groups of firms

FEES 4.3.7

01/04/2013

  • R
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) it notifies the FCA (in its own capacity and, if applicable, in its capacity as agent for the PRA) in writing of the name of each other firm within the group for which it will pay; and
(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

01/04/2013

  • G
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

01/04/2013

  • G
If the payment made does not satisfy in full the periodic fees payable by all of the members of the group notified to the FCA under FEES 4.3.7 R, the FCA (in its own capacity and, if applicable, in its capacity as agent for the PRA) 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

01/04/2013

  • G
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 FCA (in its own capacity and, if applicable, in its capacity as agent for the PRA) is informed that the sum being paid is for that firm's periodic fees.

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

FEES 4.3.11

01/04/2013

  • G
The appropriate regulator recognises that its responsibilities in respect of an incoming EEA firm, an incoming Treaty firm, an EEA authorised payment institution or an EEA authorised electronic money 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 , EEA authorised payment institutions and EEA authorised electronic money institutions are reduced.

FEES 4.3.12

01/04/2013

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

Firms Applying to Cancel or Vary Permission Before Start of Period

FEES 4.3.13

01/04/2013

  • R
(1) If:
(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) or applies to cancel its authorisation or registration (regulation 10 and 12 of the Electronic Money Regulations including as applied by regulation 15 of the Electronic Money Regulations);an issuer makes an application for de-listing; or a sponsor notifies the FCA of its intention to be removed from the list of approved sponsors; and
(b) the firm, issuer or sponsor makes the application or notification referred to in (a) before the start of the fee year to which the fee relates;
FEES 4.2.1 R applies to the firm as if the relevant variation or cancellation of the firm'spermission or authorisation or registration under the Payment Services Regulations or the Electronic Money Regulations, de-listing or removal from the list of approved sponsors, took effect immediately before the start of the fee year to which the fee relates.
(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 on or before 30 June of the fee year to which the fee relates.

FEES 4.3.13A

19/06/2014

  • R
(1)  If:
(a) a firm makes an application to vary its permission (by reducing its scope), or cancel it, in the way set out in Permissions and Waivers 2 of the PRA Rulebook; and
(b) the firm makes the application or notification referred to in (a) before the start of the fee year to which the fee relates,
FEES 4.2.1 R applies to the firm as if the relevant variation or cancellation of the firm'spermission took effect immediately before the start of the fee year to which the fee relates.
(2) But (1) does not apply if, due to the continuing nature of the business, the variation or cancellation is not to take effect on or before 30 June of the fee year to which the fee relates.

FEES 4.3.14

01/04/2013

  • G
Where a firm has applied to cancel its Part 4A permission , or its authorisation or registration under the Payment Services Regulationsor the Electronic Money Regulations, or the appropriate regulator has exercised its own-initiative powers to cancel a firm's Part 4A permission or the appropriate regulator 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 or the appropriate regulator has exercised its powers under regulation 10 (Cancellation of authorisation), including as applied by regulation 15 (Supplementary provisions) of the Electronic Money 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

01/04/2013

  • R
(1) This rule applies if:
(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
(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) 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) If the acquisition occurs after the valuation date applicable to the business (as set out in FEES 4 Annex 1AR, FEES 4 Annex 1BR 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 4.4

01/01/2006

Information on which Fees are calculated

FEES 4.4.1

02/07/2014

  • R
A firm (other than the Society and an MTF operator in relation to its MTF business) must notify to the FCA (in its own capacity and, if applicable, in its capacity as collection agent for the PRA) the value (as at the valuation date specified in Part 5 of FEES 4 Annex 1AR in relation to fees payable to the FCA or Part 5 of FEES 4 Annex 1BR in relation to fees payable to the PRA)of each element of business on which the periodic fee payable by the firm is to be calculated.

FEES 4.4.2

01/04/2013

  • R
A firm (other than the Society) must send to the FCA (in its own capacity and, if applicable, in its capacity as collection agent for the PRA) 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 5 of FEES 4 Annex 1AR in relation of fees payable to the FCA or Part 5 of FEES 4 Annex 1B R in relation to fees payable to the PRA (or FEES 4.2.7B R where applicable).

FEES 4.4.3

01/04/2013

  • R
To the extent that a firm has provided the information required by this section to the appropriate regulator 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

01/04/2013

  • G
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 FCA (in its own capacity and, if applicable, in its capacity as collection agent for the PRA), does not obtain sufficient, or sufficiently detailed, information the FCA or the PRA, as appropriate, may seek this by using the general information gathering powers (see SUP 2 (Information gathering by the appropriate regulator on its own initiative)).

FEES 4.4.5

01/04/2013

  • R
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.

Information relating to payment services and the issuance of electronic money

FEES 4.4.9

01/04/2013

  • D
To the extent that a firm has provided the information required by FEES 4.4.7 D to the FCA as part of its compliance with another provision of the Handbook, it is deemed to have complied with the provisions of that direction.

FEES 4 Annex 1B

01/04/2013

PRA activity groups, tariff bases and valuation dates

01/04/2013

  • R
Part 1
This table shows how the PRA links the PRA-regulated activities for which a PRA-authorised person has permission to activity groups (fee-blocks). A PRA-authorised person can use the table to identify which fee-blocks it falls into based on its permission.
Activity group Fee payer falls in the activity group if
A.1 Deposit acceptors its permission includes accepting depositsBUT DOES NOT include either of the following:
effecting contracts of insurance;
carrying out contracts of insurance.
A.3 Insurers - general
its permission includes one or more of the following:
- effecting contracts of insurance;
- carrying out contracts of insurance;
in respect of specified investments that are:
- general insurance contracts; or
- long-term insurance contracts other than life policies.
A.4 Insurers - life its permission includes one or more of the following:
- effecting contracts of insurance;
- carrying out contracts of insurance;
in respect of specified investments including life policies;
- entering as provider into a funeral plan contract.
A.5 Managing agents at Lloyd's its permission includes managing the underwriting capacity of a Lloyd's syndicate as a managing agent at Lloyd's.
A.6 The Society of Lloyd's it is the Society of Lloyd's.
A.10 Firms dealing as principal its permission includes dealing in investments as principal; and
the PRA has designated dealing in investments as principal a PRA-regulated activity in respect of the firm.
Part 2
This table sets out the activity groups (fee blocks) in relation to (i) the minimum fee payable to the PRA and (ii) the transitional fee payable to the PRA.
Activity group Fee payer falls into the fee-block if
PA.0 PRA minimum fee (1) it is in at least one of the fee blocks under Part 1; and
(2) it is not a UK ISPV.
PT.1 PRA transitional fee (1) it is in at least one of the fee blocks under Part 1; and
(2) it is not:
(a) a firm whose only fee payable to the PRA is the PA.0 PRA minimum fee; and/or
(b) a UK ISPV.
Part 3
This table indicates the tariff base for each fee-block set out in Part 1.
The tariff base in this Part is the means by which the PRA measures the amount of business conducted by a PRA-authorised person for the purposes of calculating the annual periodic fees payable to the PRA by that PRA-authorised person.
Activity Group Tariff base
A.1 MODIFIED ELIGIBLE LIABILITIES
For banks and building societies:
Item B of Form ELS (Note (1)):
(1 + 2 + 3 + 4 + 0.6*5 + 6 - 8 - 9A - 9B - 10A - 10B - 10C - 11A - 11B - 0.6*12) + (1/3)*(F1 + F2 + F3 + F4 + 0.6*F5 + F6 - F8 - F9A - F9B - F10A - F10B - F10C - F11A - F11B - 0.6*F12)
- 13M
Notes:
(1) All references in the above formula are to entries on Form ELS (that is, the Eligible Liabilities Return completed to provide information by banks and building societies to the Bank of England as required by the Bank of England Act 1998).
(2) The figures reported on the Form ELS relate to business conducted out of offices in the United Kingdom

For credit unions:
Deposits with the credit union (share capital)
LESS
the credit union's bank deposits (investments + cash at bank)
Note:
Only United Kingdom business is relevant for calculating credit unions' MELs.
A.3 GROSS PREMIUM INCOME AND GROSS TECHNICAL LIABILITIES
For insurers:
The amount of premium receivable which must be included in the documents required to be deposited under IPRU(INS) 9.6 in relation to the financial year to which the documents relate but disregarding for this purpose such amounts as are not included in the document by reason of a waiver or an order under section 68 of the Insurance Companies Act 1982 carried forward as an amendment to IPRU(INS) under transitional provisions relating to written concessions in SUP;
AND the amount of gross technical liabilities (IPRU(INS) Appendix 9.1 - Form 15, line 19) which must be included in the documents required to be deposited under IPRU(INS) 9.6R in relation to the financial year to which the documents relate but disregarding for this purpose such amounts as are not included in the document by reason of a waiver or an order under section 68 of the Insurance Companies Act 1982 carried forward as an amendment to IPRU(INS) under transitional provisions relating to written concessions in SUP.
Notes:
1) in the case of either:
(a) a pure reinsurer carrying on general insurance business through a branch in the United Kingdom; or
(b) an insurer whose head office is not in an EEA State carrying on general insurance business through a branch in the United Kingdom; or
(c) an EEA-deposit insurer;
the amount only includes premiums received and gross technical liabilities held in respect of its United Kingdom business;
(2) for a Swiss general insurance company, premiums and gross technical liabilities include those relevant to the operations of the company's United Kingdom branch; and
(3) a firm need not include premiums and gross technical liabilities relating to pure protection contracts which it reports, and pays a fee on, in the A.4 activity group.
For friendly societies:
Either:
(a) the value of contributions as income under Schedule 7: Part I item 1(a) to the Friendly Societies (Accounts and Related Provisions) Regulations 1994 (SI 1994/1983) (the regulations) for a non-directive friendly society, included within the income and expenditure account; or
(b) the value of gross premiums written under Schedule 1: Part I items I.1(a) and II.1.(a) of the regulations for a directive friendly society included within the income and expenditure account.
Notes:
(1) In both (a) and (b) above only premium receivable in respect of United Kingdom business are relevant.
(2) For UK ISPVs the tariff base is not relevant and a flat fee set out in FEES 4 Annex 2BR is payable.
A.4 ADJUSTED GROSS PREMIUM INCOME AND MATHEMATICAL RESERVES (see FEES 4 Annex 12 G)
Amount of new regular premium business (yearly premiums including reassurances ceded but excluding cancellations and reassurances accepted), times ten;
Plus
amounts of new single premium business (total including reassurances ceded but excluding cancellations and reassurances accepted). Group protection business (life and private health insurance) must be included;
Less
premiums relating to pension fund management;
Less
premiums relating to Trustee Investment Plans.
For each of the above, business transacted through independent practitioners or tied agents (either single or multi-tie) will be divided by two in calculating the adjusted gross premium income;
AND
the amount of mathematical reserves (IPRU(INS) Appendix 9.1R - Form 14 , Line 11) which must be included in the documents required to be deposited under IPRU(INS) 9.6R in relation to the financial year to which the documents relate but disregarding for this purpose such amounts as are not included in the document by reason of a waiver or an order under section 68 of the Insurance Companies Act 1982 carried forward as an amendment to IPRU(INS) under transitional provisions relating to written concessions in SUP;
Less
mathematical reserves relating to pension fund management.
Less
mathematical reserves relating to Trustee Investment Plans.
Notes:(1) Only premiums receivable and mathematical reserves held in respect of United Kingdom business are relevant.
(2) An insurer must include in its calculation of adjusted gross premium income (AGPI) and mathematical reserves (MR) the value of MR and AGPI relating to all risks ceded to ISPVs.
(3) Trustee Investment Plans are the class of contract of insurance specified in Class III of Part II of Schedule 1 to the Regulated Activities Order (Contracts of long-term insurance) and which are invested in pooled funds beneficially owned by the insurer and not earmarked to individual beneficiaries by that insurer.
A.5 ACTIVE CAPACITY
The capacity of the syndicate(s) under management in the year in question. This includes the capacity for syndicate(s) that are not writing new business, but have not been closed off in the year in question.
A.6 Not applicable
A.10 (only to the extent that the PRA has designated dealing in investments as principal to be a PRA-regulated activity in respect of the firm) NUMBER OF TRADERS
Any employee or agent, who:
ordinarily acts within the United Kingdom on behalf of an authorised person liable to pay fees to the PRA in its fee-block A.10 (firms dealing as principal); and who, as part of their duties in relation to those activities of the authorised person, commits the firm in market dealings or in transactions in securities or in other specified investments in the course of regulated activities.
But not any employees or agents who work solely in the firm'sMTF operation.
A firm may, as an option, report employees or agents as full-time equivalents (FTE), taking account of any part-time staff. In calculating the FTE, firms must take into account the total hours employees or agents have contracted to work for the firm and not the time employees or agents devote to the dealing in investments as principal functions set out in fee-block A.10. Any figures using the FTE calculation to be recorded to one decimal place, rounded down to the nearest decimal place.
Part 4
This table indicates the tariff base for each fee block set out in Part 2 above
The tariff base in this Part is the means by which the PRA measures the amount of business conducted by a firm for the purposes of calculating the annual periodic fees payable to the PRA by that firm.
Activity Group Tariff base
PA.0 Not applicable because the minimum fee is a specified amount.
PT.1 The total periodic fees payable as a result of Part 1 of FEES 4 Annex 2B R.

Part 5
This table indicates the valuation date for each fee-block. A PRA-authorised person can calculate its tariff data in respect of fees payable to the PRA by applying the tariff bases set out in Part 3 with reference to the valuation dates shown in this table.
IN THIS TABLE, REFERENCES TO SPECIFIC DATES OR MONTHS ARE REFERENCES TO THE LATEST ONE OCCURRING BEFORE THE START OF THE PERIOD TO WHICH THE FEE APPLIES, UNLESS OTHERWISE SPECIFIED - E.G. FOR 13/14 FEES (1 APRIL 2013 TO 31 MARCH 2014), A REFERENCE TO DECEMBER MEANS DECEMBER 2012.
Where a firm's tariff data is in a currency other than sterling, it should be converted into sterling at the exchange rate prevailing on the relevant valuation date.
A.1 For banks:
Modified eligible liabilities (MELs), valued at:
for a firm which reports monthly, the average of the MELs for October, November and December;
for a firm which reports quarterly, the MELs for December.
For credit unions:
MELs, valued at December or as disclosed by the most recent annual return made prior to that date.
For building societies:
MELs, valued at the average of the MELs for October, November and December.
A.3 Annual gross premium income (GPI), for the financial year ended in the calendar year ending 31 December.AND
Gross technical liabilities (GTL) valued at the end of the financial year ended in the calendar year ending 31 December.
A.4 Adjusted annual gross premium income (AGPI) for the financial year ended in the calendar year ending 31 December.
AND
Mathematical reserves (MR) valued at the end of the financial year ended in the calendar year ending 31 December.
A.5 Active capacity (AC), in respect of the Underwriting Year (as reported to the Society of Lloyd's) which is current at the beginning of the period to which the fee relates.
[Note: this is the Underwriting Year which is already in progress at the start of the fee period - e.g. for 2004/05 fees, the fee period will begin on 1 April 2004, which is in the 2004 Underwriting Year, so the AC for that Underwriting Year is the relevant measure.]
A.6 Not applicable.
A.10 Number of traders as at 31 December.

FEES 4 Annex 2B

30/06/2015

PRA fee rates and EEA/Treaty firm modifications for the period from 1 March 2015 to 29 February 2016

FEES 4 Annex 2B

30/06/2015

  • R
Part 1
This table shows the tariff rates applicable to each of the fee blocks set out in Part 1 of FEES 4 Annex 1B R.
(1) For each activity group specified in the table below, the fee is the total of the sums payable for each of the tariff bands applicable to the firm's business, calculated by multiplying the value of the firm's tariff base by the rate applicable to each tranche of the tariff base, as indicated.
(2) A firm may apply the relevant tariff bases and rates to non-UK business, as well as to its UK business, if:
  (a) it has reasonable grounds for believing that the costs of identifying the firm'sUK business separately from its non-UK business in the way described in Part 3 of FEES 4 Annex 1B R are disproportionate to the difference in fees payable; and
  (b) it notifies the FCA (acting as the collecting agent of the PRA) in writing at the same time as it provides the information concerned under FEES 4.4 (Information on which fees are calculated), or, if earlier, at the time it pays the fees concerned.
(3) For a firm which has not complied with FEES 4.4.2 R (Information on which fees are calculated) for this period:
  (a) the fee is calculated using (where relevant) the valuation or valuations of business applicable to the previous period, multiplied by the factor of 1.10;
  (b) an additional administrative fee of 125 is payable; and
  (c) the minimum total fee (including the administrative fee in (b)) is 215.

Note In the case of activity groups A.3 and A.4 there are two tariff rates. The rate in column 1 applies to all firms in their respective fee-blocks. The rate in column 2 relates to the Solvency 2 Implementation fee and firms must determine their obligation to pay this fee by reference to Part 5 of this Annex. The total periodic fee for each of these fee-blocks is determined by adding the amounts obtained under both columns, as applicable.
Activity group Fee payable
A.1 Band width (£ million of Modified Eligible Liabilities (MELs)) Fee (£/£m or part £m of MELs)
    General Periodic fee
  >10 - 140 38.87
  >140 - 630 38.87
  >630 - 1,580 38.87
  >1,580 - 13,400 48.59
  >13,400 64.14
A.3 Gross premium income (GPI) Column 1
General periodic fee
Column 2
Solvency 2 implementation fee
 
  Minimum fee (£) Not applicable 25.00  
  Band Width (£ million of GPI) Fee (£/£m or part £m of GPI)
  >0.5 - 10.5 494.15 70.02  
  >10.5 - 30 494.15 70.02  
  >30 - 245 494.15 70.02  
  >245 - 1,900 494.15 70.02  
  >1,900 494.15 70.02  
  Plus  
  Gross technical liabilities (GTL) Column 1
General periodic fee
Column 2
Solvency 2 implementation fee
 
  Band Width (£ million of GTL) Fee (£/£m or part £m of GTL)
  >1 - 12.5 27.31 3.75  
  >12.5 - 70 27.31 3.75  
  >70 - 384 27.31 3.75  
  >384 - 3,750 27.31 3.75  
  >3,750 27.31 3.75  
  For UK ISPVs the tariff rates are not relevant and a flat fee of £430.00 is payable in respect of each fee year.
A.4 Adjusted annual gross premium income (AGPI) Column 1
General periodic fee
Column 2
Solvency 2 implementation fee
 
  Minimum fee (£) Not applicable 25.00  
  Band Width (£ million of AGPI) Fee (£/£m or part £m of AGPI)
  >1 - 5 499.65 104.61  
  >5 - 40 499.65 104.61  
  >40 - 260 499.65 104.61  
  >260 - 4,000 499.65 104.61  
  >4,000 499.65 104.61  
  PLUS  
A.4 Mathematical reserves (MR) Column 1
General periodic fee
Column 2
Solvency 2 implementation fee
 
  Minimum fee (£) Not applicable 25.00  
  Band Width (£ million of MR) Fee (£/£m or part £m of MR)
  >1 - 20 10.24 2.15  
  >20 - 270 10.24 2.15  
  >270 - 7,000 10.24 2.15  
  >7,000 - 45,000 10.24 2.15  
  >45,000 10.24 2.15  
A.5 Band Width (£ million of Active Capacity (AC)) Fee (£/£m or part £m of AC)
  >50 - 150 59.22
  >150 - 250 59.22
  >250 - 500 59.22
  >500 - 1,000 59.22
  >1,000 59.22
A.6 Flat fee
Solvency 2 Implementation Flat Fee (£)
1,895,574.68
268,659.70
A.10 Band Width (No. of traders) Fee (£/trader)
  2 - 3 5,776.00
  4 - 5 5,776.00
  6 - 30 5,776.00
  31 - 180 5,776.00
  >180 5,776.00
Part 2
This table sets out the tariff rate applicable to each of the fee blocks set out in Part 2 of FEES 4 Annex 1B R
PA.0 (1) The minimum fee payable by any firm referred to in (3) is 500 unless:
    (a) it is a credit union that meets the conditions in (2), in which case the minimum fee payable is as set out in (2); or
    (b) it is a non-directive friendly society that falls into the A.3 activity group but not the A.4 activity group and meets the conditions set out in (3)(a), in which case the minimum fee payable is 215; or.
    (c) it is a non-directive friendly society that falls into the A.4 activity group but not the A.3 activity group and meets the conditions in (3)(b), in which case the minimum fee payable is 215;or
    (d) it is a non-directive friendly society that falls into the A.3 and A.4 activity groups and meets the conditions in (3)(a) and (3)(b), in which case the minimum fee payable is 215;
  (2) The conditions referred to in (1)(a) are that the credit union has a tariff base (Modified Eligible Liabilities) of:
    (a) 0 to 0.5million, in which case a minimum fee of 80 is payable; or
    (b) greater than 0.5millon but less than 2.0million, in which case a minimum fee of 270 is payable.
  (3) The conditions referred to in (1) are that:
    (a) the non-directive friendly society falls into the A.3 activity group and has, for that activity, 0.5 million or less in gross premium income and holds gross technical liabilities of 1.0 million or less;
    (b) the non-directive friendly society falls into the A.4 activity group and has, for that activity, written 1.0 million or less in adjusted gross premium income and holds mathematical reserves of 1.0 million or less.
    The figures for gross premium income, gross technical liabilities, adjusted gross premium income and mathematical reserves are the same as used for Part 1 of this Annex.
PT.1 Periodic fees payable under Part 1 multiplied by rate £0.0626
Part 3
This table shows the modifications to fee tariffs that apply to incoming EEA firms and incoming Treaty firms which have established branches in the UK.
Activity Group Percentage deducted from the tariff payable under Part 1 applicable to the firm
A.1 50%
A.3 90%
A.4 90%
PT.1 100%
Note 1 The modifications to fee tariffs payable by an incoming EEA firm or an incoming Treaty firm which has established a branch in the UK 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 UK.
Note 2 The PRA minimum fee described in Part 2 of FEES 4 Annex 2B R applies in full and the modifications in this Part do not apply to it.
Part 5
This Part sets out when a Solvency 2 Implementation fee is due for firms in the A.3 and A.4 fee blocks.
(1) The Solvency 2 Implementation fee is only payable by a firm if it meets all the conditions in (2) and neither of the conditions in (3).
(2) The conditions in this paragraph are:
  (a) FEES 4.3.13 R and FEES 4.3.13A R(Firms Applying to Cancel or Vary Permission Before Start of Period) donot apply with respect to the relevant fee blocks;
  (b) the firm has not notified the FSA before the start of the 2013/2014 fee year that it intends to migrate out of the United Kingdom for regulatory purposes before the Solvency 2 Directive is implemented;
  (c) it meets either of the following conditions:
    (i) its gross premium income or adjusted gross premium income, as appropriate, referred to in FEES 4 Annex 1 Part 2, exceeds EUR 5 million at the end of the financial year ended in the calendar year ending 31 December prior to the 2013/2014 fee year; or
    (ii) its gross technical liabilities or mathematic reserves, as appropriate, referred to in FEES 4 Annex 1 Part 2, exceed EUR 25 million at the end of the financial year ended in the calendar year ending 31 December prior to the 2013/2014 fee year;
  (d) it was in one or both of the insurance fee blocks at the start of the 2013/2014 fee year;
  (e) it is not an incoming EEA firm or an incoming Treaty firm;
(3) The conditions in this paragraph are:
  (a) the firm is a reinsurance undertaking that has, by 10 December 2007, ceased to conduct a new insurance business and only administers its existing portfolio in order to terminate its activity as a reinsurance undertaking;
  (b) it is a reinsurance undertaking whose insurance business is conducted or fully guaranteed by the United Kingdom government for reasons of substantial public interest in the capacity of the reinsurer of last resort.
(4) Where a firm has notified the FSA or, on or after 1 April 2013, the PRA that it intends to migrate out of the United Kingdom for regulatory purposes before the Solvency 2 Directive is implemented in the United Kingdom but when the Solvency 2 Directive is implemented that firm remains in the United Kingdom for regulatory purposes, it must pay the Solvency 2 Implementation fee for each FSA financial year and each PRAfee year commencing 1 April 2013 for which the Solvency 2 Implementation fee would have applied to the firm but for the firm notifying the FSA or the PRA of its intention to migrate.
(5) Where a firm is required to pay a Solvency 2 Implementation fee because of the circumstances described in (4) it must pay this fee within 30 days of the date of the invoice.
(6) For the purposes of this Part, the exchange rate from the Euro to the pound sterling is calculated as at the last day of October preceding the financial year of the FSA or, on or after 1 April 2013, the PRAfee year in question for which the exchange rates for the currencies of all European Union member states were published in the Official Journal of the European Union.
(7) FEES 4.2.6 R and FEES 4.2.7 R do not apply to the Solvency 2 Implementation fee.

FEES 4 Annex 12

04/10/2013

Guidance on the calculation of tariffs set out in FEES 4 Annex 1AR Part 3 and FEES 4 Annex 1BR Part 3

01/04/2014

  • G
The following table sets out guidance on how a firm should calculate tariffs for fee-block A.4.
Adjusted Gross Premium Income and Mathematical reserves - calculation of new regular premium business
(1) In calculating the new regular premium business element of its Adjusted Gross Premium Income, a firm (A) should not include business transferred from another firm (B) under the procedure set out at Part VII of the Act, during the relevant financial year, provided that that transfer did not involve the creation of new contracts between the policyholders subject to the transfer and A. This is because that business is existing business even though it is new from the point of view of A. This means that if new contracts are created as part of the transfer, that business should be included in the calculation of As new regular premium income business.
(2) If any business is transferred to a firm (A) from another firm (B) under the procedure set out at Part VII of the Act and that business would have been included in Bs tariff base as new regular premium business in the absence of such a transfer, this business should be included in either As or Bs tariff base, depending on the date of transfer. FEES 4.3.15R explains in whose tariff base it should be included.
(3) Mathematical reserves should take account of all of As business, including all new business transferred from B.

Transitional Provisions and Schedules

FEES TP 4

01/04/2013

Transitional provisions relating to information requirements following changes to FEES 4 or 5

4.1 Effect of changes to FEES 4 or 5 in relation to the supply of information to the appropriate regulator
4.1.1 R This rule applies where any rule, or amendment to a rule, in FEES 4 or FEES 5 ("a FEES rule") has been made but will only come into force in relation to a future financial year of the appropriate regulator or Financial Ombudsman Service ("the future year"), as the case may be.
4.1.2 R Unless another rule expressly disapplies this rule, a FEES rule has immediate effect for the supply of information under FEES 4.4 or FEES 5.4 in relation to that future year.
4.1.3 R A reference in this rule to an appropriate regulator or Financial Ombudsman Service financial year is a reference to the 12 months ending 31 March.

FEES TP 5

01/04/2013

Transitional Provisions relating to the Special Project Fee for Restructuring

5.1 Special Project Fee for Restructuring applicable to circumstances before 1 July 2010
5.1.1 R This rule relates to the changes to FEES 3 Annex 9 (Special Project Fee for restructuring) made by the Fees (Special Project Fee For Restructuring) (Amendment) Instrument 2010. It deals with a trigger event that occurred or started before 1 July 2010 (an "old trigger event") but which was of a type that was only brought into the definition of trigger event by that instrument. A trigger event means a circumstance or event of a type set out in paragraphs (2) or (6) of that Annex (events or circumstances that trigger liability for the Special Project Fee for restructuring).
5.1.2 R An old trigger event is still a trigger event and thus triggers liability for the fee. However any regulatory work conducted before 1 July 2010 as a consequence of an old trigger event is not taken into account for the purposes of the calculation of the fee (including the floor in paragraph (8)(a) of FEES 3 Annex 9). Likewise any fees and disbursements invoiced to the appropriate regulator in respect of services performed for the appropriate regulator in relation to assisting the appropriate regulatorin performing such regulatory work are not included to the extent that the invoice relates to the period before 1 July 2010.
5.1.3 G For example, say that a firm goes into administration before 1 July 2010. Say that the administration did not come within the list of events that triggered liability for the fee before 1 July 2010. The fee is still potentially payable. However the fee will not cover work carried out by the appropriate regulator before 1 July 2010. The same applies even if the administration started before 1 June 2009, when the fee first came into force.

FEES TP 8

01/01/2015

Transitional provisions relating to FEES 3 Annex 9R and FEES 4.3.6R taking effect in 2013/14

 
(1) (2) Material to which the transitional provision applies (3) (4) Transitional provision (5) Transitional provision: dates in force (6) Handbook provision: coming into force
8.1 Special project fee transitional provisions
8.1.1 FEES 3 Annex 9R R This rule relates to a special project fee or part of a special project fee which has the following characteristics:
(1) one or more of the events described in FEES 3 Annex 9R (2) or (6) had occurred before 1 April 2013; and
(2) FSA employees conducted regulatory work which had been recorded on the FSA's systems and/or the FSA was invoiced fees and disbursements as a consequence of the applicable event or events referred to in FEES 3 Annex 9R (2) or (6) before 1 April 2013.
(3) Hours or part hours worked by FSA staff and any fees or disbursements invoiced to the FSA of the kind described in FEES 3 Annex 9R (9) which were not accounted for in an invoice issued by the FSA prior to 31 March 2013 shall be named "pre-LCO accrued costs" in FEES TP 8.1.
From 1 April 2013 indefinitely 1 April 2013
8.1.2 FEES 3 Annex 9R R In relation to the kind of special project fee specified in FEES TP 8.1.1R,
(a) where one of the events referred to in FEES 3 Annex 9R (6)(a) had occurred, any pre-LCO accrued costs shall be included in the calculation of any amount payable to the FCA under FEES 3 Annex 9R (9);
(b) a special project fee is payable to the FCA regardless of whether the amount calculated according to FEES 3 Annex 9R for the FCA is less than £50,000; and
(c) no special project fee is payable if the sum total of adding together (i) the amount calculated in accordance with FEES 3 Annex 9R (9) in respect of the FCA and (ii) the total costs invoiced by the FSA before 1 April 2013 results in a total amount of less than £50,000.
From 1 April 2013 indefinitely 1 April 2013
8.1.3 FEES 3 Annex 9R R
In relation to the kind of special project fee specified in FEES TP 8.1.1R, where one of the events referred to in FEES 3 Annex 9R (2) or (6)(b)had occurred:
(a) 50% of the pre-LCO accrued costs shall be included in the calculation of any amount payable to the FCA under FEES 3 Annex 9R(9);
(b) 50% of the pre-LCO accrued costs shall be included in the calculation of any amount payable to the PRA under FEES 3 Annex 9R(9);
(c) a special project fee is payable to the appropriate regulator regardless of whether the amount calculated according to FEES 3 Annex 9R for the appropriate regulator is less than £50,000; and
(d) no special project fee is payable if the sum total of adding together (i) the amount calculated in accordance with FEES 3 Annex 9R(9) in respect of the FCA, (ii) the amount calculated in accordance with FEES 3 Annex 9R(9) in respect of the PRA and (iii) the total costs invoiced by the FSA before 1 April 2013 results in a total amount of less than £50,000.
From 1 April 2013 indefinitely 1 April 2013
8.1.4 FEES 3 Annex 9 G
As a result of FEES FEES TP 8.1.3R, pre-LCO accrued costs may give rise to two separate fee payment obligations following 1 April 2013, one in respect of the FCA and one in respect of the PRA if the threshold in FEES TP 8.1.3(d) is breached.
From 1 April 2013 indefinitely 1 April 2013
8.1.5 FEES 3 Annex 9 G
(1) This guidance gives examples of how FEES TP 8.1 is intended to operate.
(2) If an event specified in FEES 3 Annex 9 (2) occurred on 1 April 2012, the £50,000 threshold was breached on 1 November and the FSA invoiced for the full amount outstanding as at 1 December 2012 but issued no further invoices, any accrued hours or part hours and fees or disbursements invoiced to the FSA between 1 December 2012 and 1 April 2013 will be divided equally between the FCA and the PRA and an amount would be payable to the FCA and the PRA as separate fees regardless of whether the separate thresholds contained in FEES 3 Annex 9 (8) are met as long as the combined FSA, FCA and PRA costs incurred exceeded £50,000.
(3) If an event specified in FEES 3 Annex 9 (6)(a) occurred on 1 February 2013, the FSA had begun the relevant regulatory work but had yet issued any invoices or breached the 50,000 floor before 1 April 2013, the accrued hours and disbursements will be allocated towards the FCA's fee calculation.
From 1 April 2013 indefinitely 1 April 2013
8.2 On account fee transitional provisions
8.2.1 FEES 4.3.6 R (1) and FEES 4.3.6 R (1A) R [expired]    
8.2.2 FEES 4.3.6 R (1)(a) and FEES 4.3.6 R (1A)(a) R [expired]    
8.2.3 FEES 4.3.6 R (1)(a) R [expired]    
8.2.4 FEES 4.3.6 R (1A)(a) R [expired]    
8.2.5 FEES 4.3.6 R R [expired]    
8.2.6 FEES 4.3.6 R G [expired]    

FEES TP 10

01/04/2014

Transitional Provisions relating to FEES 4.2.7BR for firms carrying on credit related regulated activities

(1) (2) Material to which the transitional provision applies (3) (4) Transitional provision (5) Transitional provision: dates in force (6) Handbook provision: coming into force
10.1 FEES 4.2.7 R (2)(b) R Insert a new paragraph after (5)(c) as follows:
"(5)(ca): paragraph (5)(c) does not apply to a firm'scredit-related regulated activities."
From 1 April 2014 until 1 April 2016 1 April 2014

FEES Sch 1

06/10/2009

[to follow]

01/04/2013

  • G
[to follow]

FEES Sch 2

06/10/2009

[to follow]

01/04/2013

  • G
[to follow]

FEES Sch 3

06/10/2009

[to follow]

01/04/2013

  • G
[to follow]

FEES Sch 5

06/10/2009

[to follow]

01/04/2013

  • G
[to follow]

FEES Sch 6

06/01/2011

Rules that can be waived

FEES Sch 6.2

01/04/2013

  • G
As a result of section 138A of the Act (Modification or waiver of rules) the PRA has power to waive all its rules, other than rules made under section 137O of the Act (threshold condition code). However, if the rules incorporate requirements laid down in European directives, it will not be possible for the PRA to grant a waiver that would be incompatible with the United Kingdom's responsibilities under those directives.