3Regulation 92 of the Payment Services Regulations and regulation 59 of the Electronic Money Regulations each provide7 that the functions of the FCA17 under the respective7 regulations are treated for the purposes of paragraph 23 of Schedule 1ZA17 to the Act as functions conferred on the FCA17 under the Act. Paragraph 23(7) 21 however, has not been included 21.7This is 21the FCA's177 obligation to ensure that the amount of penalties received or expected to be received are not to be taken into account in determining the amount of any fee payable.2171717171717212171721
13The FCA also has a fee-raising power as a result of: regulation 21 of the Small and Medium Sized Businesses (Credit Information) Regulations.
The FCA’s 12fees payable will vary from one fee year17 to another, and will reflect the FCA’s 12funding 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 FCA 12to undertake its statutory functions.17171717171717
a funding requirement derived from:
mechanisms for applying penalties received during previous financial years for the benefit of fee payers;
a costing system to allocate an appropriate part of the funding requirement to each fee-block; and
tariff bases, which, when combined with fee tariffs, allow the calculation of fees.
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).
17PRA-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 collection 12agent for 12PRA 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 collection 12agent for the PRA in respect of the PRA fees. References to this arrangement will be referred to in FEES where applicable.