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FEES 4.1 1Introduction

Application

FEES 4.1.1R

1This chapter applies to every person set out in FEES 1.1.2R (2).

FEES 4.1.1AR

4A reference to firm in this chapter includes a reference to a fee-paying payment service provider, a CBTL firm 12 and a fee-paying electronic money issuer6.

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Purpose

FEES 4.1.2G

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.

Background

FEES 4.1.3G

Most of the detail of the periodic fees that are payable by firms is set out in FEES 4 Annexes 1A to 11BR11. FEES 4 Annex 12 G15 4 and 13FEES 4 Annex 13G provide10 guidance on the calculation of certain tariffs.5 Most of the provisions of the Annexes will vary from one fee year15 to another. Accordingly fresh FEES 4 Annexes will come into force, following consultation, for each fee year15.

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FEES 4.1.4G
  1. (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. (2)

    [deleted]8

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  3. (3)

    The periodic fees for fee-paying payment service providers, fee-paying electronic money issuers, CBTL firms 12and issuers of regulated covered bonds 7are set out in FEES 4 Annex 11R12. This annex sets out the activity groups, tariff base, valuation dates and, where applicable, the flat fees due for these firms.

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FEES 4.1.5G

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

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FEES 4.1.6G

[deleted]15

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FEES 4.1.7G

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.