FEES 4 Annex 2A FCA Fee rates for the period from 1 April 202130 to 31 March 202230285771118202325

38Part 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.

(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

Activity group

Fee payable

A.1

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

Fee (£/£m or part £m2 of MELs)

General Periodic fee

>10 - 140

14.577230

>140 - 630

14.577230

>630 - 1,580

14.577230

>1,580 - 13,400

18.22230

>13,400

24.05230

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

A.2

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

Fee (£2/mortgage)

>50

2.81630

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

365.89 plus, where neither the firm, nor a member of its group, was a defendant in Financial Conduct Authority v Arch Insurance (UK) Ltd and others [2020] EWCA Comm 2448, 110.6330

PLUS

Best estimate liabilities for fees purposes (BEL)16

General Periodic fee

Band Width (£2million of BEL16)

Fee (£2/£2m or part £2m of BEL16)

>1

18.9 plus, where neither the firm, nor a member of its group, was a defendant in Financial Conduct Authority v Arch Insurance (UK) Ltd and others [2020] EWCA Comm 2448, 6.1530

For UK ISPVs the tariff rates are not relevant and a flat fee of 7 £51530 is payable in respect of each FCA financial year (the 12 months ending 31 March).

A.4

Gross written premium for fees purposes (GWP)16

General Periodic fee

Band Width (£2million of GWP16)

Fee (£2/£2m or part £2m of GWP16)

>1

224.2730

PLUS

Best estimate liabilities for fees purposes (BEL)16

General Periodic fee

Band Width (£2million of BEL16)

Fee (£2/£2m or part £2m of BEL16)

>1

12.8930

A.5

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

Fee (£2/£2m or part £2m of AC)

>50

6.90 plus, where neither the firm, nor a member of its group, was a defendant in Financial Conduct Authority v Arch Insurance (UK) Ltd and others [2020] EWCA Comm 2448, 2.1530

A.6

Flat fee (£)2

373,766.6930

A.7

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

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

Fee (£2/£2m or part £2m of FuM)

>10

4.5530

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 (£2/£2m or part £2m of GI)

>1

973.2630

A.10

Band Width (No. of traders)

Fee (£2/person)

>12

6,697.2630

For firms carrying on auction regulation bidding, the fee in A.10 is calculated as above less 20% for each trader that carries on auction regulation bidding but not MiFID business bidding or dealing in investments as principal.29

A.13

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

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

>1002

2.44330

A.14

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

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

>1002

1.54830

A.18

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

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

>100

11.33730

A.19

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

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

>100

1.66230

3A.21

Client money

Band Width (£ client money) (CM) held

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

less than £1 million5

102.8030

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

77.1030

more than £1 billion5

51.4030

PLUS

Safe custody assets

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

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

less than £10 million5

0.446030

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

0.334530

more than £100 billion5

0.223030

30A.22

Band Width (No. of appointed representatives)

Fee (£/appointed representative)

>0

250 for appointed representatives other than introducer appointed representatives

>0

75 for introducer appointed representatives

13

13

5B. Service Companies

Band Width

Fee (£)18

Annual income up to and including £100,000

1,13223

PLUS:18

Band width18

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

Annual income over £100,00012

1.1930

12

12

12

1137

13

B. Regulated benchmark administrators17

Band width12

Fee (£)15

Annual income up to and including 100,00017

1,15123

15PLUS:

15Band width

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

Annual income over 100,00017

2.0030

12B. Recognised investment exchanges

Band width

Fee (£)15

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

109,30430

15PLUS:

15Band width

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

Annual income over £10,000,000

3.4430

12B. Recognised auction platforms29

58,26630

12B. Recognised overseas investment exchanges

62,424 30

30

30

30

30

B. MTF and OTF14 operators

Band width2814

Fee (£) 30

Annual income up to and including £100,00028

1,15130

PLUS:28

Band width28

Fee (£/£ thousand or part £ thousand of income) 30

Annual income over £100,00028

2.3230

4CC1. Credit-related regulated activities with limited permission

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

Fee (£)5

0 - 105

25030

>10 - 505

50030

>50 - 1005

50030

>1005

75030

5PLUS:

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

>2505

0.5030

4CC2. Credit-related regulated activities

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

Fee (£)

0 - 505

75030

>50 - 1005

1,00030

>1005

1,15130

5PLUS:

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

>2505

1.4030

20CMC.

Band width (£ thousands of annual turnover)

Fee (£) 30

0-50

500

50-100

1,000

>100

3.3530 per £ thousand or part per £ thousand

30

30

30

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

A.0

(1)

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

11(a)

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

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

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.

(2)

[deleted]9

(3)

[deleted]9

[deleted]9

(4)

[deleted]9

AP.0

Periodic fees payable under fee blocks A.2, A.7 to A.19and A. 21 5in 2 Part 1 multiplied by rate £0.105530

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

A.0

(1)

£57423 unless:

(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

(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

(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.

(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

(b)

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

(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