FCA Handbook - FEES 4.1 Introduction

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FEES 4.1 Introduction

Application

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

A reference to firm in this chapter includes a reference to:

(1)
a fee-paying payment service provider;
(2)
a CBTL firm;
(3)
a fee-paying electronic money issuer;
(4)
a recognised investment exchange; and
(5)
a data reporting services provider.

Purpose

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.

Gibraltar-based firms

(1)
In accordance with GEN 2.3 (General saving of the Handbook for Gibraltar), rules or guidance in FEES 4 that immediately before IP completion day applied in relation to or in connection with Gibraltar will continue to apply after IP completion day. The exceptions to this provision are the fee rates set out in Part 1, Part 2, Part 2(a) and Part 2(b) of FEES 4 Annex 2AR and Part 5 of FEES 4 Annex 11R, which may change each fee year.
(2)
The modifications that will continue to apply to Gibraltar-based firms (as defined in GEN 2.3) are:

Activity group	Percentage deducted from the tariff payable under FEES 4 Annex 2AR and FEES 4 Annex 11R applicable to the Gibraltar-based firm
A.1	10%
A.3	10%
A.4	10%
A.7	10%
A.9	10%
A.10	10%
A.13	10%
A.18	10%
A.19	50%
B. MTF and OTF operators	Not applicable
AP.0	100%
G.2	40%
G.3	40%
G.10	40%
Note 1	The modifications to fee tariffs payable by a Gibraltar-based firm apply only in relation to the relevant regulated activities of the firm which are carried on in the United Kingdom.
Note 2	The FCA minimum fees described in Part 2 of FEES 4 Annex 2AR and Part 5 of FEES 4 Annex 11R apply in full and the modifications in this FEES 4.1.2AR(2) do not apply to them.

Background

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 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.

(1)
The periodic fees for collective investment schemes reflect the estimated costs to the FCA of considering proposals to change regulated collective investment schemes, maintaining up to date records about them, and related policy work.
(2)
[deleted]
(3)
The periodic fees for fee-paying payment service providers, fee-paying electronic money issuers, CBTL firms, data reporting service providers and issuers of regulated covered bonds are set out in FEES 4 Annex 11R. This annex sets out the activity groups, tariff base, valuation dates and, where applicable, the flat fees due for these firms.

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

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.