FEES 4 Annex 2A 5771118202325FCA Fee rates and EEA/Treaty firm modifications for the period from 1 April 2020 to 31 March 2021
40Part 1 This table shows the tariff rates applicable to each of the fee blocks set out in Part 1 of FEES 4 Annex 1AR. |
(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. |
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(2) |
A firm may apply the relevant tariff bases and rates to non-UK business, as well as to its UK business, if: |
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(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 |
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(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. |
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(3) |
For a firm which has not complied with FEES 4.4.2R8 (Information on which fees are calculated) for this period: |
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(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 |
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(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 |
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(c) |
[deleted]11 557777 |
Activity group |
Fee payable |
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A.1 |
Band width (£2million of Modified Eligible Liabilities (MELs)) |
Fee (£/£m or part £m2 of MELs) 2 |
General Periodic fee |
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>10 - 140 |
15.310525 2557711131823 |
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>140 - 630 |
15.310525 2557711131823 |
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>630 - 1,580 |
15.310525 2557711131823 |
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>1,580 - 13,400 |
19.13825 2557711131823 |
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>13,400 |
25.26225 2557711131823 |
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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 |
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A.2 |
Band width (No. of mortgages and/or home finance transactions) |
Fee (£2/mortgage) |
>50 2 |
2.71825 2557711131823 |
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A.3 |
Gross written premium for fees purposes (GWP)16 |
Periodic fee |
>0.5 2 |
370.9025 255771113161823 |
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PLUS |
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Best estimate liabilities for fees purposes (BEL)16 |
General Periodic fee |
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>1 2 |
22.7325 255771113161823 |
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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 |
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A.4 |
Gross written premium for fees purposes (GWP)16 |
General Periodic fee |
>1 2 |
186.0225 255771113161823 |
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PLUS |
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Best estimate liabilities for fees purposes (BEL)16 |
General Periodic fee |
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>1 2 |
13.5125 255771113161823 |
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A.5 |
Band Width (£2million of Active Capacity (AC)) |
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>50 2 |
8.015825 2557711131823 |
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A.6 |
Flat fee (£)2 |
376,291.1825 2557711131823 |
A.7 |
For class 1(C), (2) , (3) and (4)6 firms: 6 |
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Band Width (£2million of Funds under Management (FuM)) |
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>10 2 |
5.047225 2557711131823 |
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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 |
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A.9 |
Band Width (£2million of Gross Income (GI)) |
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>1 2 |
907.6325 2557711131823 |
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A.10 |
Band Width (No. of traders) |
Fee (£2/person) |
>12 2 |
6,805.3325 2557711131823 |
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23 | 23 | |
A.13 |
Band Width (£ thousands of annual income (AI)) |
Fee (£/£ thousand or part £ thousand of AI) |
>1002 2 |
2.835625 2557711131823 |
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A.14 |
Band Width (£ thousands of annual income (AI)) |
Fee (£/£ thousand or part £ thousand of AI) |
>1002 2 |
1.652425 2557711131823 |
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A.18 |
Band Width (£2 thousands of Annual Income (AI)) |
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>100 2 |
10.59825 2557711131823 |
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A.19 |
Band Width (£2 thousands of Annual Income (AI)) |
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>100 2 |
1.69325 2557711131823 |
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3A.21 |
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Band Width (£ client money) (CM) held |
Fee (£/£ millions or part £ million of CM) |
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less than £1 million5 5 |
123.71925 557711131823 |
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an amount equal to or greater than £1 million but less than or equal to £1 billion |
92.7925 557711131823 |
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more than £1 billion5 5 |
61.8625 557711131823 |
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PLUS |
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Band Width (£ safe custody assets) (CA) held |
Fee (£/£ millions or part £ million of CA) |
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less than £10 million5 5 |
0.464125 5511131823 |
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an amount equal to or greater than £10 million and less than or equal to £100 billion |
0.348125 55131823 |
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more than £100 billion5 5 |
0.232125 55131823 |
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2 | 27711 | |
5B. Service Companies |
Band Width |
Fee (£)18 12 |
Annual income up to and including £100,000 |
1,13223 7711121318 |
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PLUS:18 |
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Band width18 |
Fee (£/£thousand or part £ thousand of income)18 |
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Annual income over £100,00012 |
1.3125 771112131823 |
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7711 | ||
1177 | 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 |
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15PLUS: |
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15Band width |
Fee (£/£ thousand or part £18 thousand of income) |
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Annual income over 100,00017 12 |
1.17925 2319171215 |
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12B. Recognised investment exchanges |
Band width |
Fee (£)15 |
Annual income up to and including £10,000,000 |
107,16125 1823 |
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15PLUS: |
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15Band width |
Fee (£/£ thousand or part £18 thousand of income) |
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Annual income over £10,000,000 |
3.96925 151823 |
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22[deleted] 1318 |
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12B. Recognised overseas investment exchanges |
61,200, 25 except as provided below24 131823 |
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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 |
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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 |
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B. MTF and OTF14 operators |
As set out in FEES 4 Annex 10R14 (Periodic fees for MTF and OTF14 operators). |
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4CC1. Credit-related regulated activities with limited permission |
Band Width (£ thousands of annual income (AI)) |
Fee (£)5 |
0 - 105 5 |
10623 551318 |
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>10 - 505 5 |
26623 551318 |
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>50 - 1005 5 |
42423 551318 |
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>1005 5 |
53023 551318 |
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5PLUS: |
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5Fee (£/£ thousand or part £ thousand of AI) |
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>2505 5 |
0.4016725 55 |
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4CC2. Credit-related regulated activities |
Band Width (£ thousands of annual income (AI)) |
Fee (£) 5 |
0 - 505 5 |
31823 551318 |
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>50 - 1005 5 |
53023 551318 |
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>1005 5 |
1,06123 551318 |
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5PLUS: |
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5Fee (£/£ thousand or part £ thousand of AI) |
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>2505 5 |
1.3054225 5511 |
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20CMC. |
Band width (£ thousands of annual turnover) |
Fee (£) for 2020/2125 |
0-50 |
500 |
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50-100 |
1,000 |
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>100 |
5.0584 25per £ thousand or part per £ thousand |
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24Notes |
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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 1AR. 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 |
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A.0 |
(1) |
£1,15123 unless it is a community finance organisation with a tariff base of:11 22711791318 |
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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 |
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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 |
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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 |
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2277 | |||
(2) |
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2277 | |||
[deleted]9 332277 |
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(3) |
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[deleted]9 |
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[deleted]9 2 |
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(4) |
[deleted]9 2 |
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AP.0 |
Periodic fees payable under fee blocks A.2, A.7 to A.19and 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 |
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A.0 |
(1) |
£57423 unless: 1318 |
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(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); |
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(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 |
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(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 |
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(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 |
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(2) |
The conditions referred to in (1)(a) are that the credit union has a tariff base (Modified Eligible Liabilities) of: |
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(a) |
0 to 0.5million, in which case a minimum fee of £9223 is payable; or 1318 |
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(b) |
greater than 0.5millon but less than 2.0million, in which case a minimum fee of £31023 is payable. 1318 |
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(3) |
The conditions referred to in (1)(d)16 are that: |
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(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; |
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(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. |
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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 |