Status: Please note you should read all Brexit changes to the FCA Handbook and BTS alongside the main FCA transitional directions. Where these directions apply the 'standstill', firms have the choice between complying with the pre-IP completion day rules, or the post-IP completion day rules. To see a full list of Handbook modules affected, please see Annex B to the main FCA transitional directions.

FEES 4 Annex 2A 5771118202325FCA Fee rates and EEA/Treaty firm modifications for the period from 1 April 2020 to 31 March 2021

R

28Part 1

This table shows the tariff rates applicable to each of the fee blocks set out in Part 1 of FEES 4 Annex 1A R.

(1)

For each activity group specified in the table below, the fee is the total of the sums payable for each of the tariff bands applicable to the firm's business, calculated by multiplying the value of the firm's tariff base by the rate applicable to each tranche of the tariff base, as indicated.

(2)

A firm may apply the relevant tariff bases and rates to non-UK business, as well as to its UK business, if:

(a)

it has reasonable grounds for believing that the costs of identifying the firm's UK business separately from its non-UK business in the way described in Part 3 of FEES 4 Annex 1A R are disproportionate to the difference in fees payable; and

(b)

it notifies the FCA in writing at the same time as it provides the information concerned under FEES 4.4 (Information on which fees are calculated), or, if earlier, at the time it pays the fees concerned.

(3)

For a firm which has not complied with FEES 4.4.2R8 (Information on which fees are calculated) for this period:

(a)

the fee is calculated using (where relevant) the valuation or valuations of business applicable to the previous period, multiplied by the factor of 1.10; and11

(b)

an additional fee of £250 is payable, unless the firm is a PRA-authorised person in which case an additional fee of £125 is payable instead.11

(c)

[deleted]11

557777

Activity group

Fee payable

A.1

Band width (£2million of Modified Eligible Liabilities (MELs))

Fee (£/£m or part £m2 of MELs)

2

General Periodic fee

>10 - 140

15.310525

2557711131823

>140 - 630

15.310525

2557711131823

>630 - 1,580

15.310525

2557711131823

>1,580 - 13,400

19.13825

2557711131823

>13,400

25.26225

2557711131823

The tariff rates in A.1 are not relevant for the permissions relating to operating a dormant account fund. Instead a flat fee of £6,367 23 is payable in respect of these permissions.18

111318

A.2

Band width (No. of mortgages and/or home finance transactions)

Fee (£2/mortgage)

>50

2

2.71825

2557711131823

A.3

Gross written premium for fees purposes (GWP)16

Periodic fee

Band Width ( £2million of GWP16)

Fee (£2/m or part £m of GWP16)

>0.5

2

370.9025

255771113161823

PLUS

Best estimate liabilities for fees purposes (BEL)16

General Periodic fee

Band Width ( £2million of BEL16)

Fee (£22m or part £2m of BEL16)

>1

2

22.7325

255771113161823

For UK ISPVs the tariff rates are not relevant and a flat fee of 7 £505 25 is payable in respect of each FCA financial year (the 12 months ending 31 March).

7711713161823

A.4

Gross written premium for fees purposes (GWP)16

General Periodic fee

Band Width ( £2million of GWP16)

Fee (£22m or part £2m of GWP16)

>1

2

186.0225

255771113161823

PLUS

Best estimate liabilities for fees purposes (BEL)16

General Periodic fee

Band Width ( £2million of BEL16)

Fee (£22m or part £2m of BEL16)

>1

2

13.5125

255771113161823

A.5

Band Width ( £2million of Active Capacity (AC))

Fee (£22m or part £2m of AC)

>50

2

8.015825

2557711131823

A.6

Flat fee (£)2

376,291.1825

2557711131823

A.7

For class 1(C), (2) , (3) and (4)6firms:

6

Band Width (£2million of Funds under Management (FuM))

Fee (£22m or part £2m of FuM)

>10

2

5.047225

2557711131823

For class 1(B) firms: the fee calculated as for class 1(C) firms above, less 15%. For class 1(A) firms: the fee calculated as for class 1(C) firms above, less 50%.2

A.9

Band Width ( £2million of Gross Income (GI))

Fee (£22m or part £2m of GI)

>1

2

907.6325

2557711131823

A.10

Band Width (No. of traders)

Fee (£2/person)

>12

2

6,805.3325

2557711131823

22

23 23

A.13

Band Width (£ thousands of annual income (AI))

Fee (£/£ thousand or part £ thousand of AI)

>1002

2

2.835625

2557711131823

A.14

Band Width (£ thousands of annual income (AI))

Fee (£/£ thousand or part £ thousand of AI)

>1002

2

1.652425

2557711131823

A.18

Band Width ( £2 thousands of Annual Income (AI))

Fee (£22 thousand or part £2 thousand of AI)

>100

2

10.59825

2557711131823

A.19

Band Width ( £2 thousands of Annual Income (AI))

Fee (£22 thousand or part £2 thousand of AI)

>100

2

1.69325

2557711131823

3A.21

Client money

Band Width (£ client money) (CM) held

Fee (£/£ millions or part £ million of CM)

less than £1 million5

5

123.71925

557711131823

an amount equal to or greater than £1 million but less than or equal to £1 billion

92.7925

557711131823

more than £1 billion5

5

61.8625

557711131823

PLUS

Safe custody assets

Band Width (£ safe custody assets) (CA) held

Fee (£/£ millions or part £ million of CA)

less than £10 million5

5

0.464125

5511131823

an amount equal to or greater than £10 million and less than or equal to £100 billion

0.348125

55131823

more than £100 billion5

5

0.232125

55131823

13

2

13

27711

5B. Service Companies

Band Width

Fee (£)18

12

Annual income up to and including £100,000

1,13223

7711121318

PLUS:18

Band width18

Fee (£/£thousand or part £ thousand of income)18

Annual income over £100,00012

1.3125

771112131823

12

12

7711

12

1137

1177

13

7711
7 711 7

B. Regulated benchmark administrators17

12

Band width12

Fee (£)15

12

Annual income up to and including 100,00017

12

1,15123

171218

15PLUS:

15Band width

Fee (£/£ thousand or part £18 thousand of income)

Annual income over 100,00017

12

1.17925

2319171215

12B. Recognised investment exchanges

Band width

Fee (£)15

Annual income up to and including £10,000,000

107,16125

1823

15PLUS:

15Band width

Fee (£/£ thousand or part £18 thousand of income)

Annual income over £10,000,000

3.96925

151823

12B. [deleted]22

22[deleted]

1318

12B. Recognised overseas investment exchanges

61,200, 25 except as provided below24

131823

Recognised overseas investment exchanges that are EEA market operators before 26IP completion day

24

No fee is payable in respect of any complete fee year beginning on or after 1 April 2018 and ending before IP completion day26.

For the fee year in which 26IP completion day occurs the fee payable is in accordance with the formula set out below.24

(The above fee ÷ 12) multiplied by the number of calendar months (inclusive) between the calendar month in which 26IP completion day occurs and the last calendar month of that fee year.24

24

Recognised overseas investment exchanges (including those that were EEA market operators immediately before IP completion day27 for fee years following the fee year in which IP completion day27 occurs)21

60,00021

B. MTF and OTF14 operators

As set out in FEES 4 Annex 10R14 (Periodic fees for MTF and OTF14 operators).

4CC1. Credit-related regulated activities with limited permission

Band Width (£ thousands of annual income (AI))

Fee (£)5

0 - 105

5

10623

551318

>10 - 505

5

26623

551318

>50 - 1005

5

42423

551318

>1005

5

53023

551318

5PLUS:

5Fee (£/£ thousand or part £ thousand of AI)

>2505

5

0.4016725

55

4CC2. Credit-related regulated activities

Band Width (£ thousands of annual income (AI))

Fee (£)

5

0 - 505

5

31823

551318

>50 - 1005

5

53023

551318

>1005

5

1,06123

551318

5PLUS:

5Fee (£/£ thousand or part £ thousand of AI)

>2505

5

1.3054225

5511

20CMC.

Band width (£ thousands of annual turnover)

Fee (£) for 2020/2125

0-50

500

50-100

1,000

>100

5.0584 25per £ thousand or part per £ thousand

24Notes

1.

For the purposes of this table, 26“IP completion day” has the same meaning as in the European Union (Withdrawal Agreement) Act 2020 (see section 39(1) to (5) of that Act) 26and regulations made under that section.24

Part 2

The tables below show 9the tariff rates (minimum fees) applicable to each of the fee blocks set out in Part 2 of FEES 4 Annex 1A R.

9Part 2(a) shows the tariff rates (minimum fees) payable to the FCA by FCA-authorised persons and Part 2(b) shows the tariff rates (minimum fees) payable to the FCA by PRA-authorised persons.

[Note: PRA-authorised persons will also pay minimum fees to the PRA as set out in Chapter 3 of the Fees Part of the PRA Rulebook16.]

9Part 2(a) tariff rates (minimum fees) payable to the FCA by FCA-authorised persons

A.0

(1)

£1,15123 unless it is a community finance organisation with a tariff base of:11

22711791318

11(a)

up to and including 3 mortgages and/or home finance transactions, in which case a minimum fee of £17623 13is payable; or

18

11(b)

more than 3 but no more than 10 mortgages and/or home finance transactions, in which case a minimum fee of £59723 is payable; or

22771813

11(c)

more than 10 but no more than 50 mortgages and/or home finance transactions, in which case a minimum fee of £1,10623 is payable.

2771813
2277

(2)

2277

[deleted]9

332277

(3)

[deleted]9

[deleted]9

2

(4)

[deleted]9

2

AP.0

Periodic fees payable under fee blocks A.2, A.7 to A.19 and A. 21 5in 2 Part 1 multiplied by rate £0.1036525

231825771311

9Part 2(b) tariff rates (minimum fees) payable to the FCA by PRA-authorised persons

A.0

(1)

£57423 unless:

1318

(a)

It is a credit union that meets the conditions in (2), in which case the minimum fee payable is as set out in (2);

(b)

it is a non-directive friendly society that falls into the A.3 activity group but not the A.4 activity group and has, for that activity, 0.5 million or less in gross written premium for fees purposes and holds best estimate liabilities for fees purposes of 1.0 million or less16, in which case the minimum fee payable is £24723; or

181613

(c)

it is a non-directive friendly society that falls into the A.4 activity group but not the A.3 activity group and has, for that activity, written 1.0 million or less in gross written premium for fees purposes and holds best estimate liabilities for fees purposes of 1.0 million or less16, in which case the minimum fee payable is £24723; or

181613

(d)

it is a non-directive friendly society that falls into the A.3 and A.4 activity groups and meets the conditions in (3)(a) and (3)(b), in which case the minimum fee payable is £24723.

181613

(2)

The conditions referred to in (1)(a) are that the credit union has a tariff base (Modified Eligible Liabilities) of:

(a)

0 to 0.5million, in which case a minimum fee of £9223 is payable; or

1318

(b)

greater than 0.5millon but less than 2.0million, in which case a minimum fee of £31023 is payable.

1318

(3)

The conditions referred to in (1)(d)16 are that:

(a)

the non-directive friendly society falls into the A.3 activity group and has, for that activity, 0.5 million or less in gross written premium for fees purposes and holds best estimate liabilities for fees purposes16 of 1.0 million or less;

(b)

the non-directive friendly society falls into the A.4 activity group and has, for that activity, written 1.0 million or less in gross written premium for fees purposes and holds best estimate liabilities for fees purposes16 of 1.0 million or less.

The figures for gross written premium for fees purposes and best estimate liabilities for fees purposes16 are the same as used for Part 1 of this Annex.

Part 3 [deleted]22