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Status: Please note you should read all Brexit changes to the FCA Handbook and BTS alongside the main FCA transitional directions. Where these directions apply the 'standstill', firms have the choice between complying with the pre-IP completion day rules, or the post-IP completion day rules. To see a full list of Handbook modules affected, please see Annex B to the main FCA transitional directions.

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Status: In this content, we have included all amendments made by EU exit-related instruments up to end September 2020. There will be more amendments to be made later this year, further to the September QCP.

FEES 11.1 1Application, purpose and background

Application

FEES 11.1.1RRP

This chapter applies to a designated guidance provider.

Purpose

FEES 11.1.2GRP

This chapter sets out rules governing the amounts payable by designated guidance providers to the FCA to fund the FCA’s pensions’ guidance costs (see FEES 11.1.4G).

Background

FEES 11.1.3GRP

The FCA’s pensions guidance costs are defined in section 333Q(4) (Funding of FCA’s pensions guidance costs) of the Act as the expenses incurred, or expected to be incurred, by the FCA in connection with carrying out the functions conferred on it in Part 20A of the Act (other than the functions specified in 333R of the Act).

FEES 11.1.4GRP
  1. (1)

    Section 333Q(1) of the Act requires the FCA to make rules requiring designated guidance providers, or any specified class of designated guidance provider to pay to the FCA specified amounts or amounts calculated in a specified way.

  2. (2)

    Section 333Q(3) of the Act sets out that such amounts may include a component to cover the expenses of the FCA in collecting the payments and to enable the FCA to maintain an adequate reserve.