FCA Handbook - FEES 3 Application, Notification and Vetting Fees

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FEES 3.1 Introduction

Application

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 every person set out in the annexes to FEES 3 referred to in column 1 of the Table of application, notification and vetting fees in FEES 3.2.7R.

A reference to firm in this chapter includes a fee-paying payment service provider, a CBTL firm, a fee-paying electronic money issuer, a designated finance platform, a designated credit reference agency and a data reporting services provider.

Purpose

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

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 1AR – FEES 3 Annex 16R.

The fees for funds reflect the estimated costs to the FCA of assessing applications and notifications. The level of fees payable in respect of an application or a notification will vary depending upon the provision of the Act under which it is made. This fee is adjusted when the scheme concerned is an umbrella.

Application fees for recognised bodies are calculated from a tariff structure intended to reflect the estimated cost of processing an application of that type and complexity.

Fees for applications and notifications under the Payment Services Regulations are set out in FEES 3 Annex 8R . The fee depends on the type of payment services a firm wishes to provide and whether it will be a small payment institution or an authorised payment institution. The fee may also depend on the number of agents it has.

Fees for applications and notifications under the Electronic Money Regulations are set out in FEES 3 Annex 10 R. The fee depends on whether the firm is an authorised electronic money institution or a small electronic money institution.

Application fees for registration under article 8(1) of the MCD Order are set out in FEES 3 Annex 10AR. The fee depends on whether the firm holds an existing Part 4A permission or has previously registered as a CBTL firm and that registration has been revoked under article 13 of the MCD Order.

(1)
Fees for designated credit reference agencies and designated finance platforms are set out at FEES 3 Annex 10B.
(2)
These fees are charged under regulation 21 of the Small and Medium Sized Business (Credit Information) Regulations and regulation 18 of the Small and Medium Sized Business (Finance Platforms) Regulations.

(1)
Application fees for authorisation under regulation 7 of the DRS Regulations, and for operators of trading venues seeking verification of their compliance with Title V of MiFID under regulation 8 of the DRS Regulations and for variation of an authorisation under regulation 12 of the DRS Regulations are set out in the table at FEES 3.2.7R.
(2)
The fee depends on the number of data reporting services for which the firm is making an application.

A potential applicant for Part 4A permission has the opportunity to discuss its proposed application with the FCA before submitting it formally. If an applicant for Part 4A permission does so, the FCA 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.

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 1AR and FEES 3 Annex 16R.

[Note: PRA-authorised persons may also pay regulatory transaction fees to the PRA set out in Chapter 4 of the Fees Part of the PRA Rulebook.]

FEES 3.2 Obligation to pay fees

General

A person referred to in column (1) of the table in FEES 3.2.7 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 FCA systems, or admission approval made, or notification, 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 or the relevant annexes.

A person must pay the fee in Categories A5 and A6 of FEES 3 Annex 12R for the first submission of a document to the FCA for approval or review in relation to a significant transaction or super transaction. As an exception to FEES 3.2.1R, after that fee is paid, Categories A1 to A4 of FEES 3 Annex 12R specify the fees a person must pay for any further documents submitted for approval or review in relation to the same transaction.

If an application for a Part 4A permission falls within more than one category set out in FEES 3 Annex 1, other than where one of the applications is an application under the benchmarks regulation, only one fee is payable. That fee is the one for the category to which the highest fee tariff applies, unless the contrary intention appears. Where applications are made under the benchmarks regulation, a separate fee will be payable for this application.

Method of payment

(1)
1. (a)
  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 or approver permission, authorisation, registration or variation under the Payment Services Regulations or the Electronic Money Regulations, registration under article 8(1) of the MCD Order, authorisation under regulation 7 of the DRS Regulations or verification under regulation 8 of the DRS Regulations or notification or registration under the AIFMD UK regulation, registration or certification under the CRA Regulation, registration or recognition under EMIR or the Securities Financing Transactions Regulation, or registration under the Securitisation Regulations 2024.
2. (b)
  Any application or notification received by theFCA 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 55H 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, regulation 7(2) of the DRS Regulations or article 9 of the MCD Order.
3. (c)
  Where this is the case, the FCA 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 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 FCA 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 paid under this chapter are not refundable.

Table of application, notification, vetting and other fees payable to the FCA

Part 1A: Application, notification and vetting fees
(1) Fee payer	(2) Fee payable (£) by reference to the pricing category in FEES 3 Annex 1AR.	Due date
(a) Any applicant for Part 4A permission (including an incoming firm applying for top-up permission) whose fee is not payable pursuant to sub- paragraph (zza) of this table	(1) Unless (2) or (3) applies, in respect of a particular application, the highest of the tariffs set out in FEES 3 Annex 1AR which apply to that application. (2) 50% of the tariff payable under (1) is payable when either (a) or (b) apply: (a) the application is one referred to in paragraph p; or (b) the application is a limited permission case under FEES 3 Annex 1. (3) If the applicant applies for registration under article 8(1) of the MCD Order at the same time as applying for a Part 4A permission, the fee payable is the higher of: (i) the fee payable in (1) or (2); and (ii) the fee payable in FEES 3 Annex 10AR. (4) [deleted]	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) [deleted]
(c) [deleted]
(d) [deleted]
(da) Persons making an application or notification in relation to applications set out in FEES 3 Annex 2R: (i) an application for an order declaring a scheme to be recognised under section 271A or section 272 of the Act; (ii) [deleted] (v) an AIFM notifying the FCA of its intention to market an AIF in the UK under regulation 58 or 59 of the AIFMD UK regulation; and (vi) an applicant for registration on the register of small registered UK AIFM.	Category applicable to the application or notification set out in FEES 3 Annex 2R	On or before the date the application or notification is made
(e) Any applicant making an application set out in FEES 3 Annex 14R - Other FCA application fees: (i) Any person seeking an order under section 326(1) of the Act to become a designated professional body; (ii) applicant to be added to the list of designated investment exchanges; (iii) any applicant for recognition as an accredited body; (iv) any applicant for registration under regulation 14 of the Risk Transformation Regulations as a protected cell company; (v) an application for recognition of an administrator in accordance with article 32 of the benchmarks regulation; (vi) an application for endorsement of a benchmark or family of benchmarks in accordance with article 33 of the benchmarks regulation; (vii) an application for authorisation under regulation 7 of the DRS Regulations, or the operator of a trading venue seeking verification of their compliance with Title V of MiFID under regulation 8 of the DRS Regulations; (viii) an application for variation of an authorisation under regulation 12 of the DRS Regulations; (ix) an application for connection to the market data processor system to provide reports directly to the FCA under MiFIR; (x) an application to connect to the market data processor system to provide markets data (other than transaction reports) under MAR 10; (xi) an application for registration as a third party verifier; (xii) an application for, to vary or cancel an approver permission.	Pricing category applicable to the application set out in FEES 3 Annex 14R	As specified in FEES 3 Annex 14R
(ea) [deleted]
(eb) [deleted]
(f) Persons making an application referred to in FEES 3 Annex 15R – Transaction fees: (i) any applicant for a certificate under article 54 of the Regulated Activities Order; (ii) a transferor in the case of an insurance business transfer scheme; (iii) an issuer applying for registration of a regulated covered bond; (iv) an issuer who proposes to make a material change to the contractual terms of a regulated covered bond under RCB 3.5.4D; (v) an applicant for a validation order. (vi) Applications in respect of controlled functions under the Senior Managers and Certification Regime (SMCR), including applications by principal firms in respect of SMCR functions in appointed representatives.	Pricing category applicable to the application or notification set out in FEES 3 Annex 15R.	As specified in FEES 3 Annex 15R
(g) Any applicant for recognition as a UK recognised body: (i) under section 287 of the Act; or (ii) under regulation 2(1) of the RAP regulations	FEES 3 Annex 3, part 1	On or before the date the application is made
(ga) [deleted]
(h) Any applicant for recognition as an ROIE under section 287 or section 292 of the Act	FEES 3 Annex 3, part 2	On or before the date the application is made
(i) [deleted]
(j) [deleted]
(k) [deleted]
(l) [deleted]
(m) [deleted]
(n) [deleted]
(o) [deleted]	[deleted]	[deleted]
(oa) [deleted]	[deleted]	[deleted]
(p) A firm applying for a variation of its Part 4A permission, as referred to in FEES 3 Annex 16R, whose fee is not payable pursuant to sub- paragraphs (zza) or (zzh) of this table	(1) As specified in FEES 3 Annex 1R-FEES 3 Annex 14R (2) Subject to (3) below, if the new business of the firm would fall within more than one pricing category in FEES 3 Annex 1AR, the fee payable is that in the highest pricing category applicable to the application. (2A) [deleted] (3) [deleted] (3A) [deleted] (3B) [deleted] (3C) If the applicant applies for registration under article 8(1) of the MCD Order at the same time as it applies for a variation of its Part 4A permission, the fee payable is the highest of: (i) the fees set out in FEES 3 Annex 10AR; (ii) the amount payable in accordance with FEES 3 Annex 16R; (3D) [deleted] (4) [deleted] [deleted]	On or before the date the application is made
(pa) A person who makes an application under section 30(1) of the Consumer Credit Act 1974 which meets the conditions of article 33 (Variations at request of licensee where no determination made before 1 April 2014) of the Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) (No 2) Order 2013 (the “relevant variation application”)	As (a) or (p) above, less any amount paid to the Office of Fair Trading in relation to the relevant variation application.	Within 30 days of the date of the invoice.
(q) [deleted]
(r) [deleted]
(s) [deleted]
(t) [deleted]
(u) [deleted]
(v) [deleted]
[deleted]
(x)[deleted]
(y) A person who makes an application or notification to the FCA under the Payment Services Regulations, including an application for variation of authorisation or registration.	The fee payable is that in the highest pricing category applicable to the application or notification as set out in FEES 3 Annex 8R.	On or before the date the application is made.
(ya) [deleted]
(z) [deleted]
(za) [deleted]
(zb) [deleted]
(zc) [deleted]
(zd)		[deleted]
(ze) 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.
(zf) [deleted]
(zg) A person who makes an application or notification to the FCA under the Electronic Money Regulations, including an application for variation of authorisation or registration.	The fee payable is that in the highest pricing category applicable to the application or notification as set out in FEES 3 Annex 10R.	On or before the date the application is made.
(zh) [deleted]
(zi) [deleted]
(zj) [deleted]
(zk) [deleted]
(zl) [deleted]
(zm) [deleted]
(zn) [deleted]
(zo) In the case of persons in respect of which the FCA has given notice of its intention to take, or appoint a competent person to take, any steps under CONRED 2.5.12R or 4.5.1R, either: (i) a Firm (as defined in CONRED 2.1.1R(1)) or 4.1.3R; or (ii) a person falling within CONRED 2.1.2R(1) or 4.1.5R.	An amount equal to: (1) a sum determined by the number of hours, or part of an hour, taken by the FCA in relation to work conducted in taking steps under CONRED 2.5.12R or 4.5.1R recorded on the FCA's systems, multiplied by the rate in FEES 3 Annex 9 (11)R; or (2) any amount invoiced to the FCA by a competent person in relation to any work carried out by that competent person in connection with its appointment by the FCA under CONRED 2.5.12R or 4.5.1R.	Within 30 days of the date of the invoice.
(zp) A person in respect of which the FCA has given notice of the FCA’s appointment of a skilled person to provide it with a report pursuant to section 166(3)(b) of the Act (including as applied by section 312P of the Act) and SUP 5.2 or, as the case may be, CTPS 13.2.	Any amount invoiced to the FCA by a skilled person in relation to any work carried out by that skilled person in connection with its appointment by the FCA pursuant to section 166(3)(b) of the Act.	Within 30 days of the date of the invoice.
(zq) A person in respect of which the FCA has given notice of the FCA’s appointment of a skilled person to collect or update information pursuant to section 166A(2)(b) of the Act (including as applied by section 312P of the Act).	Any amount invoiced to the FCA by a skilled person in relation to any work carried out by that skilled person in connection with its appointment by the FCA pursuant to section 166A(2)(b) of the Act.	Within 30 days of the date of the invoice.
(zr) [deleted]
(zs) [deleted]
(zt) An applicant for registration in the Financial Services Register under article 8(1) of the MCD Order.	Unless (1), or (2) applies, the fee as set out in FEES 3 Annex 10A. (1) If the applicant is applying for a Part 4A permission at the same time as it applies for registration under article 8(1) of the MCD Order, the fee payable in row (a), column (2) paragraph (3) of this Table. (2) If the applicant is applying for a variation of a Part 4A permission at the same time as it applies for registration under article 8(1) of the MCD Order, the fee payable in row (p), column 2 paragraph (3)(c) of this Table.	On or before the application is made.
(zu) Any person to which the Designated Credit Reference Agencies and Finance Platform Fee applies under FEES 3 Annex 10B.	Designated Credit Reference Agencies and Finance Platform Fee in accordance with FEES 3 Annex 10B.	Within 30 days of the date of the invoice.
(zv) Any firm that meets the test in FEES 3 Annex 10C(1)R(1) (PPI campaign fees).	The amount set out in FEES 3 Annex 10C(1) R(2).	Within 30 days of the date of the invoice.
(zw) [deleted]
(zx) [deleted]
(zy) [deleted]
(zz) [deleted]
(zza) An application for authorisation as a regulated benchmark administrator.	The highest of the applicable tariffs set out in FEES 3 Annex 1AR. Where an applicant intends to administer benchmarks falling into different complexity groupings, it will pay one fee only, for the highest category applied for. If, once authorised, a regulated benchmark administrator notifies the FCA of its intention to administer other/additional benchmarks no further application fee is payable (even if the other/additional benchmark falls into a higher complexity category).	On the date the application is made.
(zzb) [deleted]
(zzc) [deleted]
(zzd) applications for claims management companies	The fee applicable to the application as set out in paragraph CMC of Part 2 of FEES 3 Annex 1R. Firms which already have Part 4A permissions and are applying to vary their permissions will pay 50% of the relevant fee.	On the date the application is made.
(zze) [deleted]
(zzf) UK-based applicants for registration as a trade repository; a securitisation repository, or a third country applicant seeking recognition as a trade repository.	5,000 Applicants for registration as a trade repository who already hold registration as a securitisation repository, or vice versa, will receive a 50% discount on the relevant application fee. Applicants for registration as a trade repository to carry on activity for the purposes of UK SFTR who already hold registration as a trade repository under EMIR or vice versa, will receive a 50% discount on the relevant application fee.	On the date the application is made.
(zzg) UK-based applicants for registration as a credit rating agency or a third country applicant seeking certification as a credit rating agency.	The fee set out in FEES 3 Annex 13R.	On the date the application is made.
(zzh) Permission for (1) carrying on funeral plan distribution; (2) carrying out a funeral plan contract as provider; or (3) carrying out a funeral plan contract as provider and entering as provider into a funeral plan contract.	(1) The highest of the tariffs set out in FEES 3 Annex 1R part 3A which apply to that application, subject to (2) and (3) below. (2) Unless (3) below applies, where an applicant was carrying out any of the activities referred to in (zzh)(1)-(3) on 1 September 2021, and makes an application for permission for any of those activities after 1 November 2021, the application fees shall be: (a) £3,500 for (zzh)(1) or zzh(2); (b) £14,000 for (zzh)(3). (3) If an applicant which already has any of the permissions referred to in (zzh) applies to vary its permission, the application fees shall be: (a) £500 for (zzh)(1); (b) £1,250 for (zzh)(2); and (c) £5,000 for (zzh)(3).	On or before the application is made.
(zzi) A person making a notification of a desire for registration for deferred payment credit temporary permission under article 8 of the Deferred Payment Credit Order.	The fee set out in FEES 3 Annex 15R.	As set out in FEES 3 Annex 15R.
Part 2: Primary market fees
(1) Fee payer	(2) Fee payable	(3) Due date
(a) (i) An issuer which has not made public its annual financial report before the latest time specified in DTR 4.1.3 R. (ii) An issuer which has not made public its half-yearly financial report before the latest time specified in DTR 4.2.2 R (2).	FEES 3 Annex 12R	Within 30 days of the date of the invoice.
(b) An applicant for approval as a sponsor.	FEES 3 Annex 12R	On or before the date the application is made.
(c) For the purposes of the listing rules: (i) an issuer requesting approval of a document arising in relation to a specific event or transaction, which is not a significant transaction or a super transaction; or (ii) an issuer or person applying for eligibility for listing of its securities.	FEES 3 Annex 12R	On or before the date that relevant document is first submitted to the FCA.
(d) Under the rules in PRM, an issuer or a person requesting approval or review of a document arising in relation to a specific event or transaction, which is not a significant transaction or a super transaction.	FEES 3 Annex 12R	On or before the date that relevant document is first submitted to the FCA.
(e) An issuer requesting the approval or review of a document in connection with a super transaction.	FEES 3 Annex 12R	On or before the date that relevant document is first submitted to the FCA.
(f) An issuer requesting the approval or review of a document in connection with a significant transaction.	FEES 3 Annex 12R	On or before the date that relevant document is first submitted to the FCA.
(g) A person who requests the FCA’s approval of a document that includes a mineral expert’s report and who is a fee payer under one or more of the categories (c), (d), (e), and (f) above must additionally pay a fee under this category.	FEES 3 Annex 12R	On or before the date that relevant document is first submitted to the FCA.
(h) An applicant for approval as a primary information provider.	FEES 3 Annex 12R	On or before the date the application is made.

[Note:Guidance on how a firm liable to pay a fee under both rows (s) and (ze) of this table for the same transaction should expect to be treated is set out in FEES 3 Annex 11 G.]

FEES 3 Annex 1 Authorisation fees payable

Part 1 – Authorisation fees payable in the A, B, C, CC and CMC fee-blocks

For FCA-authorised persons and persons seeking to become FCA-authorised persons, the amount payable to the FCA is the amount payable in the pricing category applicable to the application as set out under:

(a) Part 1(a) below; or

(b) Part 2 below.

The fees applicable to credit unions are set out in Part 1b below.

For PRA-authorised persons and persons seeking to become PRA-authorised persons, the amount payable to the FCA is the amount payable under Part 1(b).

[Note: PRA-authorised persons may also pay regulatory transaction fees for new authorisations to the PRA as set out in Chapter 4 of the Fees Part of the PRA's Rulebook.]

The Tables below set out the following:

(1) fees for applications by credit unions in Part 1(b) and community finance organisations in Part 1(a);

(2) fees for applications in the A, B, C, CC and CMC fee-blocks in Part 2.

(3) [deleted]

Part 1(a) Authorisation Fees payable to the FCA by community finance organisations
Application type		Amount payable (£)
(1) Community finance organisations
(a) [deleted]
(aa) Community finance organisations - where application is for a Part 4A permission limited to permission to carry on credit-related regulated activity		Pricing category 1 in FEES 3 Annex 1AR
(ab) Community finance organisations - where application is for a Part 4A permission as a home finance provider or home finance administrator		Pricing category 1 in FEES 3 Annex 1AR
(ac) [deleted]
(b) [deleted]
(c) [deleted]
[deleted]
(d) [deleted]
(e) [deleted]
(f) [deleted]
(3) [deleted]


(g) [deleted]
	[deleted]

(h) [deleted]
(i) [deleted]
(j) [deleted]
(4) [deleted]
(k) [deleted]
(l) [deleted]
(5) [deleted]
(m) [deleted]

Part 1(b) Authorisation Fees payable to the FCA by PRA-authorised persons
Application type				Amount payable (£)
(1) Credit unions
(a) Credit unions - registration of a common bond				200
(aa) Credit unions where application is for a Part 4A permission limited to permission to carry on credit-related regulated activity				100
(b) Credit unions (other than where (aa) applies)				150
(c) [deleted]
(2) [deleted]
(d) [deleted]
(e) [deleted]
(f) [deleted]
(3) [deleted]


(g) [deleted]


(h) [deleted]
(i) [deleted]
(j) [deleted]

Part 2 – Pricing categories applicable to applications made in the following activity groupings in the A, B, C, CC and CMC fee blocks


Activity grouping	Description	Applicable pricing category in FEES 3 Annex 1AR
A.1	Deposit acceptors (excluding e-money issuers and credit unions) and dormant asset fund operators	7
A.2	Home finance providers and administrators	6
A.3	Friendly societies only	4
	UK ISPVs	6
	Insurers - general (excluding friendly societies and UK ISPVs	7
A.4	Friendly societies only	4
	Insurers - life (excluding friendly societies)	7
A.5	Managing agents at Lloyd’s	5
A.7	Portfolio managers	6
A.9	Managers and depositaries of investment funds, and operators of collective investment schemes or pension schemes	6
A.10	Firms dealing as principal	6
A.13	Advisors, arrangers, dealers or brokers	4
A.14	Corporate finance advisers	4
A.18	Home finance providers, advisers and arrangers (excluding home finance providers).	4
A.19	General insurance distribution	4
A.21	Holding client money or assets or both.	4
A.23	Carrying on funeral plan distribution	4
A.23	Carrying out a funeral plan contract as provider	4
A.23	Carrying out a funeral plan contract as provider and entering as provider into a funeral plan contract	6
A.25	Carrying on regulated pensions dashboard activity	5
B.	Regulated benchmark administrators where the applicant intends to administer a non-significant benchmark	4
B.	Service companies	6
B.	Regulated benchmark administrators where the applicant intends to administer: - a significant benchmark; or - a commodity benchmark or an interest rate benchmark which has not been designated as a critical benchmark; or - a regulated-data benchmark other than one which is a non-significant benchmark.	6
B.	MTF operators and OTF operators	8
B.	Pisces operators	6
B.	Regulated benchmark administrators where the applicant intends to administer a critical benchmark	8
CC1	Credit-related regulated activity – limited permission	2
	Not-for-profit debt advice body	No fee payable
CC2	(1) Credit broking; (2) Providing credit information services; (3) Advising on regulated credit agreements for the acquisition of land; (4) Debt adjusting where limited to: (i) no debt management plans; (ii) settlement sale of goods; or (iii) settlement vehicle finance. (5) Debt counselling where limited to: (i) no debt management plans; (ii) settlement sale of goods; or (iii) settlement vehicle finance.	3
	(1) Debt administration; (2) Debt collecting; (3) Entering into a regulated consumer hire agreement as owner; (4) 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); (5) Exercising, or having the right to exercise, the owner’s rights and duties under a regulated consumer hire agreement; (6) 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); (7) Operating an electronic system in relation to lending.	5
CC.2	(1) Debt adjusting except where limited to: (i) no debt management plans; (ii) settlement sale of goods; or (iii) settlement vehicle finance. (2) Debt counselling except where limited to: (i) no debt management plans; (ii) settlement sale of goods; or (iii) settlement vehicle finance. (3) 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; (4) 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; (5) Providing credit references.	6
	Where a firm holding a deferred payment credit temporary permission applies for permission for: (1) entering into a regulated credit agreement as lender; or (2) exercising, or having the right to exercise, the lender’s rights and duties under a regulated credit agreement, its application fee for one such application is reduced by the amount (in £) which it paid under FEES 3 Annex 15R Item 7.
CMC	Claims management companies applying only for the permission of seeking out persons who may have a claim.	4
	Claims management companies applying for any other permission	6

[deleted]

Part 5 - Activity Groupings R

The activity group definitions are set out in FEES 4 Annex 1A.

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 3.2.7R (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 of the 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 distribution 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 3.2.7R Part 2(1)(b) 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 UKLR 24 (Sponsors);
	(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 UKLR 24.4.5R.

FEES 3 Annex 1A FCA pricing categories

Category	Price
Category 1	£280
Category 2	£550
Category 3	£1,120
Category 4	£2,790
Category 5	£5,580
Category 6	£11,150
Category 7	£27,870
Category 8	£55,740
Category 9	£111,470
Category 10	£222,940

FEES 3 Annex 2 Application and notification fees payable in relation to collective investment schemes, recognised schemes, money market funds and AIFs marketed in the UK

Legislative provision	Nature and purpose of fee	Payable by	Applicable pricing category in FEES 3 Annex 1AR or amount of fee (£)	Umbrella factor (note 1)
Part 1 [deleted]
[deleted]	[deleted]	[deleted]	[deleted]	[deleted]
[deleted]	[deleted]	[deleted]	[deleted]	[deleted]
[deleted]	[deleted]	[deleted]	[deleted]	[deleted]
Part 2 (Application fees payable for firms to be subject to COLL)
(1) Regulation 12 of the OEIC Regulations, application for order declaring a scheme to be an ICVC	On application for an order, where the scheme is a:	An applicant		2
	UCITS scheme		Category 4
	Non-UCITS retail scheme		Category 4
	Qualified investor scheme		Category 5
	Long-term asset fund		Category 5
(2) Section 242 of the Act, application for order declaring a scheme to be an AUT (3) Section 261C of the Act, application for order declaring a scheme to be an ACS, whether it is established as a co-ownership scheme or a limited partnership scheme (1), (2) and (3) also apply to funds where an application is also made to be authorised under the Money Market Funds Regulation	On application for an order declaring a scheme to be an AUT, where the scheme is a:	An applicant		2
	UCITS scheme		Category 4
	Non-UCITS retail scheme		Category 4
	Qualified investor scheme		Category 5
	Long-term asset fund		Category 5
Section 261C of the Act This section also applies to funds where an application is also made to be authorised under the Money Market Funds Regulation	On application for an order declaring a scheme to be an ACS, whether it is established as a co-ownership scheme or a limited partnership scheme, where the scheme is a:	An applicant		2
	UCITS scheme		Category 4
	non-UCITS retail scheme		Category 4
	qualified investor scheme		Category 5
	Long-term asset fund		Category 5
Section 271A of the Act	On application for an order declaring a scheme to be recognised, where the scheme was:	An applicant
	recognised under regulation 62 of the Collective Investment Schemes (Amendment etc.) (EU Exit) Regulations 2019 immediately before the application		£2,720	2
	not recognised under regulation 62 of the Collective Investment Schemes (Amendment etc.) (EU Exit) Regulations 2019 immediately before the application		Category 4	2
Section 272 of the Act	On application for an order declaring a scheme to be recognised where the scheme is:	An applicant


	a non-UK AIF or AIF equivalent to a UK UCITS, non-UCITS retail scheme, a qualified investor scheme or a long-term asset fund		Category 6	2
	Where funds of any kind set out in Part 2 exist prior to 21 July 2018, a flat fee will be payable on an application for authorisation under the Money Market Funds Regulation		Category 1
Part 2A [deleted]

Part 2B Application fees payable for UK or non-EEA firms applying for authorisation under article 5 of the Money Market Funds Regulation
Article 5 of the Money Market Funds Regulation	UK AIF (apart from those authorised as a non-UCITS retail scheme, a qualified investor scheme or a long-term asset fund)		2
	Non-UK AIF which is marketed in the UK		3
	Non-UK AIF which is not marketed in the UK		2
	Non-UK AIF which is not managed by an AIFM but is marketed in the UK		3
Part 3 (notifications) [deleted]


Part 4 (Alternative Investment Funds: fees payable for making a notification to the FCA to market an AIF)
Regulation 10 of the AIFMD UK regulation	Application for registration on the register of small registered UK AIFMs	the AIFM	3	N/A
Regulation 57 of the AIFMD UK regulation	On giving notice under regulation 57 of the AIFMD UK regulation – price payable per AIF	the AIFM	1	N/A
Regulation 58 of the AIFMD UK regulation	On giving notice under regulation 58 of the AIFMD UK regulation – price payable per AIF	the AIFM	1	N/A
Regulation 59 of the AIFMD UK regulation	On giving notice under regulation 59 of the AIFMD UK regulation – price payable per AIF	the AIFM	1	N/A
	The fees in this Part are payable in addition to any other authorisation application fees.
Part 5 (Administration fee for money market funds that exist prior to 21 July 2018 which need to apply for authorisation by the FCA by 21 January 2019)
Article 4 of the Money Market Funds Regulation	On application by an existing money market fund which from 21 July 2018 seeks to be authorised under the Money Market Funds Regulation	21 July 2018	1	2

Notes:
1.	For an umbrella the fee is multiplied by the factor shown in the final column of the table.

FEES 3 Annex 3 Application fees payable in connection with Recognised Investment Exchanges and Recognised Auction Platforms

Description of applicant	Applicable pricing category in FEES 3 Annex 1AR or amount payable (£)	Due date
Part 1 (UK recognised bodies)
Applicant for recognition as a UK RIE	Category 10	Date the application is made
Applicant for recognition as a RAP (payable in addition to any other application fee due under this part)	£35,000	Date the application is made
[deleted]
[deleted]
Additional fees for a UK RIE applicant who proposes to:
- offer safeguarding and administration services	Category 8	Date the application is made
- use substantially new and untested information technology systems in the performance of its relevant functions	Category 8	Date the application is made
Part 2 (ROIEs)
Applicant for recognition as a recognised overseas investment exchange	Category 9	Date the application is made
Additional fees for applicant who proposes to:
- offer safeguarding and administration services	Category 8	Date the application is made
- use substantially new and untested information technology systems in the performance of its relevant functions	Category 7	Date the application is made

FEES 3 Annex 8 Fees payable under the Payment Services Regulations, including for authorisation as an authorised payment institution, registration as a small payment institution, notification fees and fees for variation of authorisation and registration

Where an application 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.

Where more than one fee is applicable to an application, the tariff payable is the highest of the applicable tariffs.

Application type for authorisation, registration and notification under Part 2 of the Payment Services Regulations	Applicable pricing category in FEES 3 Annex 1AR or amount payable (£)
(1) small payment institution	Category 3
(2) authorised payment institution - where the applicant is applying for authorisation to provide payment services in paragraph(s) (f) (money remittance) and/or (g) (payment initiation services) and/or (h) (account information services) of Part 1 of Schedule 1 to the Payment Services Regulations	Category 4
(2)(i) registered account information service provider - where the applicant is applying for registration to provide payment services in paragraph (h) (account information services) of Part 1 of Schedule 1 to the Payment Services Regulations only	Category 3
(3) authorised payment institution - where the applicant is applying for authorisation to provide payment services in any one or more of paragraph(s): (a) (enabling cash to be placed on payment account and all operations required for operating a payment account); (b) (enabling cash withdrawals from a payments account and all operations required for operating a payment account); (c) (execution of direct debits, payment transactions executed through a payment card or similar device, credit transfers); (d) (execution of payment transactions where the funds are covered by a credit line for the payment service user); (e) (issuing payments instruments or acquiring payment transactions) of Part 1 of Schedule 1 to the Payment Services Regulations.	Category 5
(4) [deleted]
(5) [deleted]
(6) A person (service provider) - where, during the course of the FCA financial year (12 months ending 31 March) that person notifies the FCA under regulation 38 of the Payment Services Regulations of its use of the limited network exclusion or the electronic communications exclusion [Note: If the FCA determines that the claim for exemption is not valid and the business must apply for authorisation or registration, then the latest exemption charge paid by the business will be deducted from the relevant application fee.]	Category 1 If the FCA determines that the claim for exemption is not valid and the business must apply for authorisation or registration, then the latest exemption charge paid by the business will be deducted from the relevant application fee.
(7) [deleted]
(8) The fees set out in paragraphs (8)(a), (b) and (c) are applicable to an authorised payment institution applying to vary its authorisation under regulation 5 of the Payment Services Regulations where the authorised payment institution is applying to increase the payment services that it is permitted to carry on. The fees in these paragraphs are irrespective of the number of agents the applicant has.
(a) If the authorised payment institution is authorised to carry on payment services in paragraphs (f), (g) or (h) of Part 1 of Schedule 1 to the Payment Services Regulations and is applying to extend its authorisation to include any one or more of the payment services in (a) to (e) of Part 1 of Schedule 1.		50% of Category 4
(b) If the authorised payment institution is authorised to carry on payment services in paragraphs (a) to (e) of Part 1 of Schedule 1 to the Payment Services Regulations and is applying to add one or more of the services in (a) and (f).		50% of Category 4
(c) If the authorised payment institution is authorised to carry on payment services in paragraphs (a) to (f) of Part 1 of Schedule 1 to the Payment Services Regulations and is applying to add one or both services in (g) and (h).		50% of Category 4
These charges are irrespective of the number of agents the applicant has.
(9) Variation of registration under regulation 13 of the Payment Services Regulations where the small payment institution is applying to increase the payment services that it is permitted to carry on.		50% of Category 3
Note: See FEES TP 17 for transitional provisions relating to fees payable for authorisation as an authorised payment institution or registration as a small payment institution under the Payment Services Regulations 2017 (SI 2017/752).

FEES 3 Annex 9 Special Project Fee for restructuring

(1) R	The Special Project Fee for restructuring (the SPFR) is only payable by a person in one of the following categories:
	(a)	if that person falls within any of the A, B, CC1, CC2 and CMC fee-blocks (as defined in Part 1 of FEES 4 Annex 1AR; or
	(b)	if that person falls within fee-block G.3 or G.10 (as defined in FEES 4 Annex 11); or
	(c)	[deleted]
	(d)	[deleted]
	(e)	[deleted]
	(f)	if that person applies for the permission in MIFIDPRU 4.12.4R.
(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's group structure;
		(iii) reattribution;
		(iv) a significant change to the firm’s business model; and
		(v) a significant internal change programme.
	(c)	a scheme of arrangement under Part 26 of the Companies Act 2006 in respect of that person.
(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 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 will levy its own SPFR separate to any levy issued by the PRA and this may be in relation to the same event or circumstance.
(8) R	No SPFR is payable tothe FCA:
	(a)	if the amount calculated in accordance with (9) in relation to the regulatory work conducted by the FCA totals less than £50,000 in the case of an FCA-authorised person or £25,000 in the case of a PRA-authorised person; or
	(b)	for time spent giving guidance to the person in relation to the same matter if the FCA has charged that person for that guidance.
(9) R	The SPFR for the FCA is calculated as follows:
	(a)	Determine the number of hours, or part of an hour, taken by the FCA 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 FCA by any person in respect of services performed by that person for theFCA in relation to assisting theFCA 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 FCA'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 FCA 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	45
	Associate	75
	Technical Specialist	130
	Manager	145
	Any other person employed by the FCA	255
(11A) R	[deleted]






(12) G	The obligation to pay the SPFR is ongoing. Accordingly, there is no limitation on the number of times that the FCA may invoice a person for the SPFR in relation to the same events or circumstances referred to in (2) or (6). If the FCA 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 FCA 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 or £25,000.
(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 Fees payable under the Electronic Money Regulations, including for authorisation as an authorised electronic money institution, registration as a small electronic money institution or variation thereof and notification fees, in accordance with the Electronic Money Regulations

Authorisation, registration and variation fees payable

Application type for authorisation, registration, variation or notification under Part 2 of the Electronic Money Regulations			Applicable pricing category in FEES 3 Annex 1AR or amount payable (£)
(1) small electronic money institution			Category 3
(2) authorised electronic money institution			Category 5
(3) [deleted]
(4) [deleted]
(5) An authorised electronic money institution applying to vary its authorisation under regulation 8 of the Electronic Money Regulations.
	(a)	Subject to (5)(b) below, where the authorised electronic money institution is applying to vary its authorisation to increase the services that it can carry on.	50% of Category 5
	(b)	Where the authorised electronic money institution applies to vary its authorisation to provide one of both of the one or both of the payment services in paragraphs (g) and (h) of Part 1 of Schedule 1 to the Payment Services Regulations.	50% of Category 4
(6) A small electronic money institution applying for a variation of registration under regulation 12 of the Electronic Money Regulations.			50% of Category 3

FEES 3 Annex 10A Fees payable for registration as a CBTL firm under article 9 of the MCD Order

Application type

Applicable pricing category in FEES 3 Annex 1AR

(1) An applicant who, at the time of application, holds a Part 4A permission or interim permission and has not had a registration as a CBTL firm revoked under article 13 of the MCD Order.

(2) An applicant who, at the time of application,

(a) does not hold a Part 4A permission or interim permission; or

(b) has previously held a registration as a CBTL firm which was revoked under article 13 of the MCD Order

FEES 3 Annex 10B Designated Credit Reference Agencies and Finance Platforms Fee

(1)	R	The Designated Credit Reference Agencies and Finance Platform Fee (the “DCRFP”) is only payable by a designated credit reference agency or a designated finance platform.
(2)	R	The DCRFP becomes payable by a person falling into (1) if the FCA conducts regulatory work connected to:
		(a)	breaches or potential breaches by that person of requirements under the Small and Medium Sized Business (Credit Information) Regulations or the Small and Medium Sized Business (Finance Platform) Regulations.
		(b)	whether the person has or may have committed an offence of misleading the FCA under regulation 34 of the Small and Medium Sized Business (Credit Information) Regulations or regulation 31 of the Small and Medium Sized Business (Finance Platforms) Regulations.
(3)	R	A person falling into (1) is not required to pay the DCRFP if the amount calculated in accordance with (4) for the FCA’s regulatory work described at (2)(a) and/or (b) is less than £10,000.
(4)	R	The DCRFP is calculated as follows:
		(a)	Determine the number of hours, or partial hours, taken by the FCA in performing the regulatory work described at (2)(a) and/or (b).
		(b)	Use the table at FEES 3 Annex 9(11)R to determine the relevant pay grades of those employed by the FCA to perform the regulatory work described at (2)(a) and/or (b).
		(c)	Next, multiply the applicable pay grade rate in the table at FEES 3 Annex 9(11)R by the number of hours or part hours obtained under (a).
		(d)	Then add any fees and disbursements invoiced to the FCA by any person in respect of services performed by that person for the FCA in relation to assisting it in performing the regulatory work referred to in 2(a) and/or (b).
		(e)	The resulting figure is the DCRFP.
		The number of hours or partial hours referred to in (4)(a) are the number of hours or partial hours as recorded on the FCA’s systems in relation to the regulatory work referred to in (2)(a) and/or (b).
(5)	G	The hourly rates chargeable for the FCA pay grades are set out in the table at FEES 3 Annex 9(11)R Special Project Fee for Restructuring.
(6)	G	(a)	The obligation to pay the DCRFP is ongoing. There is therefore no limit on the number of times that the FCA may invoice a person falling into (1) for the DCRFP for the same regulatory work described at (2)(a) and/or (b).
		(b)	If the FCA issues more than one invoice, there is a single floor under (3) and not a separate one for each instalment.
(7)	G	If the DCRFP is payable, the full amount calculated under (4) is payable; not just the excess over £10,000.
(8)	G	The FCA shall provide any person falling into (1) with written notice that it is performing regulatory work described at 2(a) and/or (b) which is likely to exceed £10,000 calculated in accordance with (4) as soon as is reasonably practicable.

FEES 3 Annex 10C PPI campaign fees

(1)	R	(1)	A firm must pay a PPI campaign fee calculated in accordance with (2) if it has:
			(a)	reported over 100,000 complaints cumulatively under question 17(A) (payment protection insurance – advising, selling and arranging) of the complaints return form in DISP 1 Annex 1R; and
			(b)	reported those complaints from 1 August 2009 up to and including 1 August 2015.
		(2)	The PPI campaign fee is calculated by multiplying the number of complaints cumulatively reported to the FCA under question 17(A) of DISP 1 Annex 1R for the firm from 1 August 2009 up to and including 1 August 2015 by £3.64.
(2)	R	(1)	A firm’s PPI campaign fee will be a proportion of the total amount of costs the FCA has estimated it will incur in running the consumer communications campaign highlighting the introduction of the two-year PPI complaints deadline.
		(2)	(a)	The FCA will invoice the PPI campaign fee in equal amounts over two years.
			(b)	The FCA will invoice the first part of the fee during the month following FEES 3 Annex 10C coming into force and will invoice the second part one calendar year later.
		(3)	The FCA will write to each firm that meets the test at FEES 3 Annex 10C(1)R(1) before sending out its first invoice, setting out:
			(a)	the number of complaints reported to the FCA under question 17(A) of DISP 1 Annex 1R for that firm from 1 August 2009 up to and including 1 August 2015; and
			(b)	the basis on which it has calculated the PPI campaign fee for that firm.
		(4)	Any amounts raised that are in excess of the actual cost of the PPI consumer communications campaign will be refunded to fee payers under FEES 3 Annex 10C on a pro rata basis.
(3)	R	References in this annex to question 17A in the complaints return form at DISP 1 Annex 1R are to that question as it existed on 1 August 2015, and to any corresponding question in previous versions of that form.

FEES 3 Annex 11 Guidance on fees due under FEES 3 Annex 1R, FEES 3 Annex 3R, FEES 3 Annex 8R, FEES 3 Annex 10R, FEES 3.2.7R(p), FEES 3.2.7R(s) and FEES 3.2.7R(ze)

Part 1 This Part applies to the following:

(1)

(a) FCA-authorised persons, PRA-authorised persons and persons seeking to become FCA-authorised persons or PRA-authorised persons that pay application fees under FEES 3 Annex 1R, FEES 3 Annex 3R, FEES 3 Annex 8R and FEES 3 Annex 10R; or
(b) a firm seeking a variation of its Part 4A permission which pays an application fee under FEES 3.2.7R(p).

(2) The following table sets out guidance on how a person liable to pay both a fee mentioned in (1) above and also in FEES 3.2.7R(ze) for the same transaction, should expect to be treated.

(A)	The person is liable to pay the fees referred to in (1). However, it may also be liable to pay the Special Project Fee for restructuring set out in FEES 3.2.7R(ze), calculated in accordance with FEES 3 Annex 9. It is possible then for a person to have to pay two types of fees in respect of the same application.
(B)	Where the situation described in (A) arises, the FCA will consider whether to reduce or remit a fee under FEES 2.3 (Relieving Provisions).

Part 2 The following table sets out guidance on how a firm is liable to pay a fee under both FEES 3.2.7R(s) and FEES 3.2.7R(ze) for the same transaction should expect to be treated.

(1) The transferor in insurance business transfer schemes is liable to pay the fee set out in FEES 3.2.7R(s). However, it may also be liable to pay the Special Project Fee for restructuring set out in FEES 3.2.7R(ze), 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 FCA will consider whether to reduce or remit a fee under FEES 2.3 (Relieving Provisions).

FEES 3 Annex 12 Primary market transaction fees

Category	Fee payable (£)
A1	0
A2	2,230
A3	5,580
A4	16,720
A5	22,290
A6	55,740

For the purposes of FEES 3 Annex 12R:

Category A1 includes:

(a) applying for eligibility for listing of securities under UKLR 17; or
(b) applying for eligibility for listing of miscellaneous securities under UKLR 19; or
(c) applying for eligibility for listing of equity shares where UKLR 5.1.2R(2) applies; or
(ca) [deleted]
(cb) [deleted]
(d) [deleted]
(e) applying for the approval of a material change to the published investment policy of a closed-ended investment fund under UKLR 11.4.14R; or
(f) [deleted]; or
(g) applying for the approval of:
1. (i) a supplementary prospectus; or
2. (ii) [deleted]
3. (iii) a securities note; or
4. (iv) a summary;

Category A2 includes:

(a) applying for the approval of:
1. (i) a prospectus in relation to non-equity securities; or
2. (ii) a registration document in relation to non-equity securities;
3. (iii) [deleted]
(b) where an issuer has a market capitalisation of less than £500 million:
1. (i) applying for the approval of a prospectus in relation to equity securities; or
2. (ii) applying for the approval of a registration document in relation to equity securities; or
3. (iii) [deleted]
4. (iv) [deleted];
5. (v) applying for the approval of a universal registration document; or
6. (vi) applying for the approval of a specified exempted document;
(c) submitting a circular for approval; or
(d) where an issuer is a closed-ended investment fund:
1. (i) applying for the approval of a prospectus in relation to equity securities; or
2. (ii) applying for the approval of a registration document in relation to equity securities; or
3. (iii) [deleted]
4. (iv) [deleted]; or
5. (v) applying for the approval of a universal registration document;
6. (vi) applying for the approval of a specified exempted document; or
(e) [deleted]

Category A3 includes:

(a) applying for eligibility for listing of equity shares under UKLR 11; or
(b) applying for eligibility for listing of securities under UKLR 12; or
(c) applying for approval as a sponsor following a change in legal status;

Category A4 includes:

(a) applying for eligibility for listing of equity shares under UKLR 5; or
(b) applying for eligibility for listing of equity shares under UKLR 13; or
(ba) applying for eligibility for listing of equity shares under UKLR 14; or
(c) applying for eligibility for listing of securities representing certain securities under UKLR 15; or
(ca) applying for eligibility for listing of non-equity shares or non-voting equity shares under UKLR 16; or
(d) applying for eligibility for listing of securities under UKLR 18; or
(da) [deleted]
(db) [deleted]
(e) applying for the approval of:
1. (i) a prospectus in relation to equity securities; or
2. (ii) a registration document in relation to equity securities; or
3. (iii) [deleted]
(f) ) applying for the approval of a universal registration document; or
(g) applying for the approval of a document that includes a mineral expert’s report; or
(h) applying for approval as a sponsor; or
(i) applying for the approval of a specified exempted document;

Category A5 includes applying for the approval or review of a document in relation to a significant transaction; and

Category A6 includes applying for the approval or review of a document in relation to a super transaction.

Primary information providers (PIPs)

An application for approval as a primary information provider attracts a fee at Category 7 level as set out in FEES 3 Annex 1AR.

Voluntary prospectus

For the purposes of FEES 3 Annex 12R, where a prospectus is referred to in this Annex it includes a prospectus voluntarily drawn up pursuant to PRM 1.4.15R.

FEES 3 Annex 13R Fees payable for registration as a credit rating agency, trade repository or securitisation repository

Application type	Applicable pricing category in FEES 3 Annex 1AR
Credit rating agency	5
Trade repository	6
Third country firm seeking certification as a credit rating agency	4
Third country firm seeking recognition of a trade repository	5
Securitisation repository	6

FEES 3 Annex 14 Other FCA application fees

	Application type			Pricing category in FEES 3 Annex 1AR		Due date
1	Any person seeking an order under section 326(1) of the Act to become a designated professional body			6		30 days after the order is granted
2	Any applicant to be added to the list of designated investment exchanges			9		On or before the date the application is made
3	Any applicant for recognition as an accredited body			4		On or before the date the application is made
4	Any applicant for registration under regulation 14 of the Risk Transformation Regulations as a protected cell company			2		On or before the date the application is made
5	Applications under the benchmarks regulation
	(a)	recognition of an administrator in accordance with article 32 of the benchmarks regulation		5		On the date the application is made
	(b)	endorsement of a benchmark or family of benchmarks in accordance with article 33 of the benchmarks regulation		3		On the date the application is made
6	Applications under the DRS Regulations in relation to MiFID and/or MiFIR and/or MAR
	(a)	Application for authorisation under regulation 7 of the DRS Regulations, or the operator of a trading venue seeking verification of their compliance with Title V of MiFID under regulation 8 of the DRS Regulations. The pricing categories in either (a)(i), (ii) or (iii) below apply
		(i)	Application to operate one data reporting service, plus 50% of the fee for each additional service applied for	6		On the date the application is made
		(ii)	Application to operate more than one data reporting services	50% of 6 for each additional service plus 6
		(iii)	Variation of an authorisation under regulation 12 of the DRS Regulations	50% of 6
	(b)	Application to connect to the market data processor system to provide reports directly to the FCA under MiFIR, subject to (b)(i) below		7		On the date the application is made
		(i)	If a person has previously applied as stated in (d) and had been connected then no further fee is payable for any further applications
	(c)	Application to connect to the market data processing system to provide markets data (other than transaction reports) under MAR 10, subject to (c)(i) and (ii) below		6		On the date the application is made
		(i)	If a person has previously applied as stated in (c) above and has been connected, then no further fee is payable for any further such applications in relation to reporting the same data
		(ii)	If a person has previously applied as stated in (c) above and makes a further application in relation to the provision of different data, then a separate fee is applicable for such an application	Category 6 fee for each application		On the date the application is made
7	An application for registration as a third party verifier			3		On the date the application is made
(8)	(a)	An application for approver permission for the purposes of:		5		On the date the application is made
		(i)	section 55NA(3)(a) of the Act (where that application is made by an authorised person); or	5
		(ii)	section 55NA(3)(b) of the Act (where that application is made by an applicant for Part 4A permission that has yet to be determined).	In respect of both the application for Part 4A permission and the application for approver permission, one fee is payable being the higher of:
				(i)	5; and
				(ii)	the tariff applicable to the application for Part 4A permission set out in FEES 3 Annex 1AR.
	(b)	An application to vary an approver permission already granted under section 55NA of the Act, by way of an extension to the scope of that permission for the purposes of section 55NA(5)(a) of the Act.		50% of 5
	(c)	An application to:		No charge
		(i)	vary an approver permission by way of a reduction in the scope of that permission; or
		(ii)	cancel an approver permission,
		for the purposes of section 55NA(5)(a) of the Act.

FEES 3 Annex 15 FCA Transaction Fees

	Application type			Pricing category in FEES 3 Annex 1AR or amount of fee (£)	Due date
1	Any applicant for a certificate under article 54 of the Regulated Activities Order			Category 4	On or before the date the application is made
2	A transferor in an insurance business transfer scheme:
	(a)		Insurance business transfer scheme involving long-term insurance business	Category 7	On or before the date any application is made for the appointment of a person as an independent expert
	(b)		Insurance business transfer scheme not involving long-term insurance business	Category 6
	[Note: for the purpose of this charge, an insurance business transfer scheme consists of a single transferor and a single transferee. Where 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, they are liable to pay the fee under column (2) jointly.]
4	Regulated Covered Bonds
	(a)	An issuer applying for registration of a regulated covered bond:
		(i)	When the assets in the asset pool will consist primarily of UK residential mortgages		Category 7	On or before the date the application is made
		(ii)	Any other application for registration		Category 8	On or before the date the application is made
	(c)	An issuer who proposes to make a material change to the contractual terms of a regulated covered bond under RCB 3.5.4D			Category 5	On or before the date the notification under RCB 3.5.4D is made
5	Validation Orders
	Any applicant for a validation order is charged an application fee and a validation order project fee.






	Validation order application fee
	Number of VO-related third parties
	0 - 1 (ie, including applications without reference to any VO-related third party but where the applicant was unauthorised themselves)				£1,000	On or before the date the application is made
	2 - 3				£2,500
	4 - 10				£5,000
	11 or more				£7,500
	Validation order project fee
	The validation order project fee covers the FCA’s regulatory work in assessing the application and any fees and disbursements invoiced to the FCA by any person in respect of services performed to assist the FCA in performing the regulatory work. The validation order project fee is determined in line with FEES 3 Annex 9(9)R-(11)R, but FEES 3 Annex 9(9)R(a) applies with the modification that the reference to number of hours or part hours relates to the FCA’s regulatory work in assessing the validation order application. Before starting the validation order assessment, the FCA will provide a non-binding estimate of the validation order project fee to the applicant. If an application is withdrawn before conclusion of the matter, the applicant is only liable for the validation order project fee incurred up to the point of withdrawal.					Within 30 days of the date of any invoices issued by the FCA
6	Applications other than where the applicant is a credit union, • in respect of controlled functions under the Senior Managers and Certification Regime (SMCR); or • by principal firms in respect of controlled functions for appointed representatives (CF(AR)), using the Long Form A, provided the application [i.e none of the above] does not form part of an application for authorisation, variation of permission or registration of an appointed representative.				Category 1	On or before the date the application is made
	Notification type				Pricing category in FEES 3 Annex 1AR or amount of fee (£)	Due date
7	Notification of a desire for registration for deferred payment credit temporary permission under article 8 of the Deferred Payment Credit Order				Category 1	On or before the date the notification is made

FEES 3 Annex 15A Guidance on FCA transaction fees

	Application type	Guidance
5	Validation orders	For the avoidance of doubt, FEES 3 Annex 9(8)R does not apply to validation order fees, neither to the total fees payable nor to the validation order project fee. The obligation to pay the validation order project fee is ongoing and the FCA may issue interim invoices. Accordingly, there is no limitation on the number of times that the FCA may invoice an applicant for one validation order application.

Application type

Guidance

Validation orders

For the avoidance of doubt, FEES 3 Annex 9(8)R does not apply to validation order fees, neither to the total fees payable nor to the validation order project fee.

The obligation to pay the validation order project fee is ongoing and the FCA may issue interim invoices. Accordingly, there is no limitation on the number of times that the FCA may invoice an applicant for one validation order application.

FEES 3 Annex 16 Fees for an application for variation of permission

The fee relevant to the application is due on or before the date the application is made.

	Application type				Applicable pricing category in FEES 3 Annex 1AR
1	Reduction in the scope of the applicant’s permissions and no other increases				N/A
Where the application is to increase permissions:
2	Unless (4)-(11) applies, an application for a variation of Part 4A permission within:
		(a)	Fee-blocks A.1, A.3, A.4, A.5		Category 1
		(b)	Any other fee-block		Category 2
3	The proposed new business falls within an activity group specified in FEES 4 Annex 1R within which the applicant does not already hold any permission				50% of the highest pricing category relevant to the application
4	The proposed new business falls within an activity group specified in FEES 3 Annex 1R within which the applicant does not already hold any permission				50% of the highest pricing category relevant to the application
5	Credit-related permissions
	(a)		Activity group CC1 – any applicant which already holds a limited permission and applies for:
		(i)		Another limited permission activity	No fee payable
		(ii)		Any other credit-related permission	100% of highest pricing category relevant to the application
	(b)		Activity group CC2 – any applicant which already holds a permission within activity group CC2 and applies for another permission within CC2		50% of the highest pricing category

6	Any applicant in activity group A.1 which applies for the permissions of meeting of repayment claims or managing dormant asset funds (including the investment of such funds)				50% of the highest pricing category relevant to the application
7	Credit union applying to vary its permission for:
		(a)	credit-related activity		£50
		(b)	any other activity		£75
8	Simple change of legal status (see definition in FEES 3 Annex 1R Part 6)				50% of the highest pricing category relevant to the application
9	Application by MTF operator to become an OTF operator or an OTF operator to become an MTF operator				50% of Category 8
10	Notification of the intention of a regulated benchmark administrator to administer benchmarks additional to those included in its original application for authorisation				0

Where an applicant holds a deferred payment credit temporary permission, and is now applying for a variation of permission in scope of items 4, 5 or 7, the fee payable for the first such application is reduced by the amount (in £) which the applicant paid under FEES 3 Annex 15R Item 7.