FEES 4.1 1Introduction

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.

Most of the detail of the periodic fees that are payable by firms is set out in FEES 4 Annexes 1A to 11. FEES 4 Annex 12 G19 4 provides guidance on the calculation of certain tariffs.5 Most of the provisions of the Annexes will vary from one fee year19 to another. Accordingly fresh FEES 4 Annexes will come into force, following consultation, for each fee year19.

19[Note: References to the fee period 1 April 2012 to 31 March 2013 have been updated to 1 April 2013 to 31 March 2014 in respect of the FCA and 1 April 2013 to 28 February 2014 in respect of the PRA to put into effect the rule changes contained in the Legal Cutover (Fees) Instrument 2013 only. The tariff rates set out in the FEES 4 Annexes have not yet been updated for the 2013/2014 fee year. The rates for the 2013/2014 fee year will be made by the FCA and PRA boards in June, following a consultation on a separate fees rates instrument expected to be published in March 2013.]

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

   28
3. (3)

   4The periodic fees for fee-paying payment service providers , fee-paying electronic money issuers 6and issuers of regulated covered bonds 7are set out in FEES 4 Annex 11. This annex sets out the activity groups, tariff base, valuation dates and, where applicable, the flat fees due for these firms.

   77

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

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.