FEES 13A.1 Application and purpose
Application
Purpose
1The purpose of this chapter is to set out the requirements on the persons listed in FEES 13A.1.1R to fund the costs of taking action against illegal money lending. For the avoidance of doubt, such persons also include supervised run-off firms.
1Section 333T of the Act (Funding of action against illegal money lending) requires the Treasury to notify the FCA of the amount of the Treasury’s illegal money lending costs. The FCA must make rules requiring authorised persons, or any specified class of authorised persons, to pay to the FCA the specified amounts or amounts calculated in a specified way, with a view to recovering the amounts notified to it by the Treasury.
Regulations 28 and 34 of the EU Exit Passport Regulations provide that supervised run-off firms are treated as having Part 4A permission or a variation to the permission.
1FEES 13A sets out the rules referred to in FEES 13A.1.4G.