1The purpose of this chapter is to set out the requirements on the persons listed in FEES 7D.1.1R to fund the Treasury’s costs relating to the provision of debt advice by the Devolved Authorities, and the related FCA collection costs. For the avoidance of doubt, such persons also include supervised run-off firms.
1The Treasury’s debt advice costs are defined in subsection 1 of section 137SB (Rules to recover debt advice expenses incurred by the devolved authorities) of the Act as the expenses incurred, or expected to be incurred, by the Devolved Authorities in connection with the provision of information and advice on debt to members of the public in Scotland, Wales and Northern Ireland.
Section 137SB(2 and 3) of the Act requires the FCA to make rules requiring authorised persons, electronic money issuers or payment service providers to pay specified sums, or sums calculated in a specified way to the FCA with a view to recovering:
Regulations 28 and 34 of the EEA Passport Rights (Amendment, etc., and Transitional Provisions) (EU Exit) Regulations 2018 provide that supervised run-off firms are treated as having Part 4A permission or a variation to the permission.
1These rules were made with the consent of the Treasury pursuant to section 137SB(5) of the Act.