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You are viewing the version of the document as on 2023-12-07.

FEES 4 Annex 2A FCA Fee rates for the period from 1 April 2023 to 31 March 20243230285771118202325

R

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

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

14.83636

2557711131823253032

>140 - 630

14.83636

2557711131823253032

>630 - 1,580

14.83636

2557711131823253032

>1,580 - 13,400

18.54536

2557711131823253032

>13,400

24.47936

2557711131823253032

The tariff rates in A.1 are not relevant for the permissions relating to operating a dormant asset fund33. Instead a flat fee of £6,76232 is payable in respect of these permissions.18

11131823

A.2

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

Fee (£2/mortgage)

>50

2

3.14536

2557711131823253032

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

344.2036

255771113161823253032

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

21.7036

255771113161823253032

For UK ISPVs the tariff rates are not relevant and a flat fee of 7 £547.0032 is payable in respect of each FCA financial year (the 12 months ending 31 March).

77117131618232530

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

238.9336

255771113161823253032

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

15.89836

255771113161823253032

A.5

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

Fee (£22m or part £2m of AC)

>50

2

5.3036

2557711131823253032

A.6

Flat fee (£)2

400,692.8436

2557711131823253032

A.7

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

6

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

Fee (£22m or part £2m of FuM)

>10

2

4.94736

2557711131823253032

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

988.2536

2557711131823253032

A.10

Band Width (No. of traders)

Fee (£2/person)

>12

2

8,069.4036

2557711131823253032

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

22
23 23

A.13

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

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

>1002

2

2.4736

2557711131823253032

A.14

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

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

>1002

2

1.5436

2557711131823253032

A.18

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

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

>100

2

10.45536

2557711131823253032

A.19

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

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

>100

2

1.72736

2557711131823253032

3A.21

Client money

Band Width (£ client money) (CM) held

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

less than £1 million5

5

99.0936

557711131823253032

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

74.3236

557711131823253032

more than £1 billion5

5

49.5536

557711131823253032

PLUS

Safe custody assets

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

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

less than £10 million5

5

0.41536

5511131823253032

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

0.311336

55131823253032

more than £100 billion5

5

0.207536

55131823253032

30A.22

Band Width (No. of appointed representatives)

Fee (£/appointed representative)

>0

266.0032 for appointed representatives other than introducer appointed representatives

>0

80.0032 for introducer appointed representatives

31A.23

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

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

>100

7.5636

13

2

13

27711

5B. Service Companies

Band Width

Fee (£)18

12

Annual income up to and including £100,000

1,202.0032

771112131823

PLUS:18

Band width18

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

Annual income over £100,00012

0.9936

771112131823253032

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

1,222.0032

17121823

15PLUS:

15Band width

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

Annual income over 100,00017

12

1.3336

2319171215253032

12B. Recognised investment exchanges

Band width

Fee (£)15

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

116,081.0032

18232530

15PLUS:

15Band width

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

Annual income over £10,000,000

2.3936

151823253032

12B. Recognised auction platforms29

22

61,878.0032

1318222930

12B. Recognised overseas investment exchanges

66,294.0032

131823252430

30

2624

30

262426242624

30

2721

30

21

B. MTF and OTF14 operators

Band width2814

14

Fee (£) 30

28

Annual income up to and including £100,00028

1,222.0032

2830

PLUS:28

Band width28

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

28

Annual income over £100,00028

1.6536

283032

4CC1. Credit-related regulated activities with limited permission

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

Fee (£)5

0 - 105

5

35032

551318233034

>10 - 10034

55

70032

551318233034

34

55

34

5513182330

>1005

5

1,00032

551318233034

5PLUS:

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

>2505

5

0.58136

55253032

4CC2. Credit-related regulated activities

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

Fee (£)35

534

0 - 505

5

1,00032

551318233034

>50 34-10032

55

1,25032

551318233034

>10032

5534

1,50032

551318233034

5PLUS:

5Fee (£)35

>2505

5

1.62736

5511253032

A fee payer which falls into fee blocks A.0 and CC2. pays a fee of £035 in relation to income falling within the CC2. fee block up to a Band Width35 of 250.

34

20CMC.

Band width (£ thousands of annual turnover)

Fee (£) 30

25

0-50

531.0032

50-100

1,062.0032

>100

0.9136 per £ thousand or part per £ thousand

253032

30

24

30

30

2624

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)

£1,50032 unless it is a community finance organisation with a tariff base of:11

227117913182334

11(a)

up to and including 3 mortgages and/or home finance transactions, in which case a minimum fee of £18732 13is payable; or

2318

11(b)

more than 3 but no more than 10 mortgages and/or home finance transactions, in which case a minimum fee of £63432 is payable; or

2277231813

11(c)

more than 10 but no more than 50 mortgages and/or home finance transactions, in which case a minimum fee of £1,17532 is payable.

277231813
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, A.21, A.23 and CC.234 in Part 1 multiplied by rate £0.1050836.

323431523025231825771311

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

Fee32

A.0

(1)

32

Any PRA-authorised person except as set out in (2) and (3)32

£75032

[deleted]32

[deleted]32

[deleted]32

[deleted]32

(2)

Credit union with a32 tariff base (Modified Eligible Liabilities) of:

(a)

£0 to £0.5million32

£9732

(b)

£0.5million36 to £2.0million

32

£32732

32(c)

above £2 million.

£606

(3)

Non-directive friendly society that meets the criteria of one of the following categories (a) to (c):

Activity group the firm falls into32

Gross written premium for fees purposes for that activity32

Best estimate liabilities for fees purposes for that activity32

32(a)

A.3 but not A.4

£0.5 million or less

Up to £1 million or less

£261

32(b)

A.4 but not A.3

£1 million or less

£1 million or less

£261

32(c)

Both A.3 and A.4

32A.3

£0.5 million or less

£1 million or less

£261

32A.4

£1 million or less

£1 million or less

£261

Part 3 [deleted]22