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Status: You are viewing the version of the handbook as on 2011-04-29.

FEES 5 Annex 1R 38Annual General Levy Payable in Relation to the Compulsory Jurisdiction for 2010/11164544

R

Introduction: annual budget

1. The annual budget for 2010/1115 approved by the FSA is 113.7m.15

2. The total amount expected to be raised through the general levy in 2010/1115 will be £17.7m(net of £1.8m to be raised from consumer credit firms).12

Compulsory jurisdiction - general levy1645

6912151215164569151645612

Industry block

Tariff base

General levy payable by firm

1-Deposit acceptors, home finance providers,14 home finance administrators 9 (excluding firms in block 14) and dormant account fund operators14

369

Number of accounts relevant to the activities in DISP 2.6.1 R9 as at 31 December

For an e-money firm, the tariff base includes the number of e-money accounts multiplied by 0.15. (7)11

In the case of dormant account fund operators, the tariff base is the number of eligible activated accounts (8).14

89

0.027815 per relevant account, subject to a minimum levy of 1001

691215

2-Insurers - general (excluding firms in blocks 13 & 15)

Relevant annual gross premium income

0.10815 per 1,000 of relevant annual gross premium income, subject to a minimum levy of 100

6911015

3-The Society (of Lloyd's)

Not applicable

20,00015 to be allocated by the Society

15

4-Insurers - life (excluding firms in block 15)

Relevant adjusted annual gross premium income

0.03315 per 1,000 of relevant adjusted annual gross premium income, subject to a minimum levy of 1001

691215

5-Fund managers (including those holding client money/assets and not holding client money/assets)

Flat fee12

12

1Levy of 2009

69

6-Operators, trustees and depositaries of collective investment schemes and operators of personal pension schemes or stakeholder pension schemes2

Flat fee

Levy of 506

6

7-Dealers as principal

Flat fee

Levy of 50

8-Advisory arrangers, dealers or brokers holding and controlling client money and/or assets

Number of relevant persons approved to perform the customer function (CF30), but excluding those persons solely acting in the capacity of an investment manager or solely advising clients in connection with corporate finance business or performing functions relating to these.

3515 per relevant approved person subject to a minimum levy of 35151

691215691215

9-Advisory arrangers, dealers or brokers not holding and controlling client money and/or assets

Number of relevant persons approved to perform the customer function (CF30), but excluding those persons solely acting in the capacity of an investment manager or solely advising clients in connection with corporate finance business or performing functions relating to these.

3515 per relevant approved person subject to a minimum levy of 3515

91215915

10-Corporate finance advisers

Flat fee

Levy of 50

11-fee-paying payment service providers (but excluding firms in any other Industry block)13

For authorised payment institutions, the Post Office Limited, the Bank of England, government departments and local authorities, and EEA authorised payment institutions relevant income as described in FEES 4 Annex 11 Part 31391

6913

0.015 per 1,000 of relevant income subject to a minimum levy of 7515

15

For small payment institutions and small e-money issuers a flat fee13

Levy of 7513

15

12-

N/A for 2010/11151

6915

13-Cash plan health providers

Flat fee

Levy of 50

14-Credit unions

Flat fee

Levy of 50

15-Friendly societies whose tax-exempt business represents 95% or more of their total relevant business

Flat fee

Levy of 50

16-3Home finance providers, advisers and arrangers 9 (excluding firms in blocks 13, 14 & 15)

369

Flat fee

Levy of 9015

91215

17 - General insurance mediation (excluding firms in blocks 13, 14 & 15)

Annual income (as defined in MIPRU 4.3) relating to firm's relevant business12

12

0.3115 per 1,000 of annual income (as defined in MIPRU 4.3) relating to firm's relevant business subject to a minimum levy of 8515

912151215

Notes11

4

[not used]

5

The industry blocks in the table are based on the equivalent activity groups set out in Part 1 of FEES 4 Annex 1.

6

Where the tariff base in the table is defined in similar terms as that for the equivalent activity group in Part 2 of FEES 4 Annex 1, it must be calculated in the same way as that tariff base - taking into account only the firm's relevant business.

117

(1) An e-money account is, subject to (2), e-money that has been issued by an e-money firm and which can reasonably be regarded as being held by the owner of the e-money as a single balance and under the same arrangements.

(2) An account that would be an e-money account under (1) will not be one where, as at 31 December, it carries a nil balance and/or has been inactive for a period of 12 months or more.

148

Eligible activated accounts are the number of repayment claims met by the dormant account fund operator as at the 31 December.

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381645