FEES 3 Annex 1 Authorisation fees payable
Part 1 - Authorisation fees payable
39For PRA-authorised persons and persons seeking to become PRA-authorised persons, the amount payable to the PRA is 50% of the amount payable under Part 1 and the amount payable to the FCA is 50% of the amount payable under Part 1. The amount payable to the PRA above is collected by the FCA as agent of the PRA.
For FCA-authorised persons and persons seeking to become FCA-authorised persons, the amount payable to the FCA is the amount payable
under Part 1, No amount is payable to the PRA.
The table below sets out the following:18
(1) fees for applications by credit unions and community finance organisations21;18
(2) application fees in respect of the complexity groupings that relate to regulated activities that are not credit-related regulated activities; and18
(3) application fees in respect of the complexity groupings that relate to credit-related regulated activities.18
91818Application type |
Amount payable (£) |
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(a) Credit unions - registration of a common bond |
200 |
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(aa) Credit unions or community21 - where application is for a Part 4A permission limited to permission to carry on credit-related regulated activity |
200 |
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(b) Version 1 credit unions - authorisation (other than where (aa) applies) |
300 |
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(c) Version 2 credit unions - authorisation (other than where (aa) applies) |
1,800 |
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(2) Complexity groupings not relating to credit-related regulated activities - see Part 2 |
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(d) Straightforward |
1,500 (unless otherwise specified in Part 2) |
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(e) Moderately complex |
5,000 (unless otherwise specified in Part 2) |
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(f) Complex |
25,000 |
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(3) Complexity groupings relating to credit-related regulated activity - see Part 3 |
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Consumer credit annual income (£) |
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0 - 50,000 |
> 50,000 |
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100 unless the application is for limited permission as a not-for-profit debt advice body, in which case the amount payable is 0 |
500 unless the application is for limited permission as a not-for-profit debt advice body, in which case the amount payable is 0 |
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Consumer credit annual income (£) |
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0 -50,000 |
> 50,000 - 100,000 |
> 100,000 - 250,000 |
> 250,000 - 1,000,000 |
> 1,000,000 |
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(h) Straightforward |
600 |
750 |
1,000 |
1,500 |
5,000 |
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(i) Moderately complex |
800 |
1,000 |
1,500 |
5,000 |
10,000 |
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(j) Complex |
1,000 |
1,250 |
2,000 |
7,000 |
15,000 |
(1) |
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Part 2 - Complexity Groupings not relating to credit-related regulated activities18Straightforward Cases
9Straightforward cases |
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Activity grouping |
Description |
|
A.3 |
Friendly societies only |
|
A.4 |
Friendly societies only16 |
|
16A.10 |
A firm to the extent it is bidding in emissions auctions |
|
A.13 |
Advisors,20 arrangers, dealers or brokers 2020 |
|
A.14 |
Corporate finance advisers |
|
A.181 |
Home finance providers4, advisers and arrangers (excluding home finance providers4).1 4491211 |
|
A.191 |
General insurance mediation1 |
|
19A.21 |
Holding client money or assets or both. |
Moderately Complex Cases
9Moderately complex cases |
|
Activity grouping |
Description |
[deleted]13 13 |
[deleted]13 13 |
A.21 |
Home finance providers4 and administrators.1 491211 |
5A.3 |
|
[deleted]8 8 |
|
A.5 |
Managing agents at Lloyd's |
A.7 |
Portfolio managers17 17 |
A.9 |
Managers and depositaries of investment funds, and operators of collective investment schemes or pension schemes17 1717 |
A.10 |
Firms dealing as principal, except to the extent the firm is bidding in emissions auctions16 |
B. |
Complex Cases R
Complex cases |
|
Activity grouping |
Description |
A.1 |
Deposit acceptors (excluding e-money issuers and credit unions) and dormant account fund operators10 |
A.3 |
Insurers - general (excluding friendly societies and UK ISPVs5) |
A.4 |
Insurers - life (excluding friendly societies) 8 |
6B |
MTF operators |
Part 3 - Complexity Groupings relating to credit-related regulated activity18
Straightforward cases18
Activity grouping18 |
Description |
CC.2 |
Moderately complex cases18
Activity grouping18 |
Description |
CC.2 |
Entering into a regulated consumer hire agreement as owner 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) 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) |
Complex cases18
Part 4 - Authorisation Fees for Treaty Firms R
If the Treaty firm wishes to undertake the permitted activities in question through its branch in the United Kingdom, the fee is 50% of the fee that would be payable under FEES 3.2.7 R and/or FEES 3.2.7A R40 for an applicant for Part 4A permission. |
If the Treaty firm wishes to undertake the permitted activities in question by providing services in the United Kingdom, the fee is 25% of the fee which would be payable under FEES 3.2.7 R and/or FEES 3.2.7A R40 for an applicant for Part 4A permission. |
Part 5 - Activity Groupings R
The activity group definitions are set out in FEES 4 Annex 1A.and FEES 4 Annex 1B.40 2240 |
Part 6 - Change of legal status2
2An application involving only a simple change of legal status for the purposes of FEES 3.2.7 R, FEES 3.2.7A R (a)40, FEES 3.2.7R (y),14 FEES 3.2.7R (za)7, FEES 3.2.7 R (zg) and FEES 3.2.7 R (zh)14 is from an applicant: 2 |
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(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 or14 authorisation or registration under the Payment Services Regulations or the Electronic Money Regulations,147 and |
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(2) which is to: |
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(a) have the same or narrower permission, scope of authorisation or registration under the Payment Services Regulations or Electronic Money Regulations14 7and the same branches (if any), as the firm; |
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(b) assume all of the rights and obligations in connection with any of14 the regulated activities,14 payment services7 and electronic money issuance14 carried on by the firm; |
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(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; |
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(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 |
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(e) have the individuals within the firm that are responsible for insurance mediation activity perform the same role for the applicant. |
Part 7 - Change of legal status - sponsors fees
15An application involving only a simple change of legal status for the purposes of FEES 3.2.7 R(j) is from an applicant: |
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(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 |
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(2) which (subject to any changes required only as a result of the change in legal status) is to: |
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(a) assume all of the rights and obligations in connection with any of the sponsor activities of the existing sponsor under the listing rules; |
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(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 LR 8 (Sponsors: Premium listing); |
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(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 |
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(d) otherwise continue to comply in all respects with the criteria for approval as a sponsor set out in LR 8.6.5 R. |