Related provisions for FEES 5.3.5

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FEES 5.3.1GRP
Each financial year, the FSA and FOS Ltd will consult on the amount of the annual budgetof the Financial Ombudsman Service which is to be raised by the general levy.
FEES 5.3.6RRP
A firm must pay to the FSA a general levy towards the costs of operating the Compulsory Jurisdiction of the Financial Ombudsman Service.
FEES 6.7.6RRP
If a firm ceases to be a participant firm part way through a financial year of the compensation scheme:(1) it will remain liable for any unpaid levies which the FSCS has already made on the firm; and(2) the FSCS may make a levy upon it (which may be before or after the firmhas ceased to be a participant firm, but must be before it ceases to be an authorised person) for the costs which it would have been liable to pay had the FSCS made a levy on all participant firms at the time
FEES 6.4.5RRP
Unless FEES 6.3.22 R applies, the FSCS must calculate a participant firm's share of a base costs levy by:(1) identifying the base costs which the FSCS has incurred, or expects to incur, in the relevant financial year of the compensation scheme, but has not yet levied;(2) calculating the amount of the participant firm's regulatory costs as a proportion of the total regulatory costs relating to all participant firms for the relevant financial year; and(3) applying the proportion
FEES 2.1.1RRP
120This120 chapter applies to every person who is required to pay a fee or share of a levy to the FSA, FOS Ltd or FSCS, as the case may be, by a provision of the Handbook.
FEES 2.1.4GRP
The purpose of this chapter is to set out the general provisions applicable to those who are required to pay fees or levies to FSA, case fees to FOS Ltd or a share of the FSCS levy.
FEES 2.1.5GRP
Paragraph 17 of Schedule 1 and section 99 to the Act enable the FSA to charge fees to cover its costs and expenses in carrying out its functions. The corresponding provisions for the FSCS levy and FOS levies and case fees are set out in FEES 6.1, and FEES 5.2 respectively.
FEES 2.1.7GRP
The key components of the FSA fee mechanism (excluding the FSCSlevy and FOS levy and case fees, which are dealt with in FEES 5 and FEES 6) are:(1) a funding requirement derived from:(a) the FSA's financial management and reporting framework;(b) the FSA's budget; and(c) adjustments for audited variances between budgeted and actual expenditure in the previous accounting year, and reserves movements (in accordance with the FSA's reserves policy);(2) mechanisms for applying penalties
FEES 6.3.3GRP
The FSCS may impose one or more levies in a financial year to meet either its management expenses or its compensation costs. The FSCS may also impose interim levies, as part of its overall levy commitment. This flexibility allows the FSCS to phase its financing over the course of a financial year and thus avoid collecting levies from firms before the money is actually needed. The FSCS has committed itself in the Memorandum of Understanding with the FSA (the text of which can
FEES 2.3.1RRP
If it appears to the FSA, or FOS Ltd (in relation to any FOS case fee only), that in the exceptional circumstances of a particular case, the payment of any fee or FOS levy would be inequitable, the FSA or FOS Ltd, as relevant, may (unless FEES 2.3.2B R applies)1 reduce or remit all or part of the fee or levy in question which would otherwise be payable.
FEES 2.3.2RRP
If it appears to the FSA, or FOS Ltd (in relation to any FOS case fee only), that in the exceptional circumstances of a particular case to which FEES 2.3.1R does not apply, the retention by the FSA, or FOS Ltd, as relevant, of a fee or FOS levy which has been paid would be inequitable, the FSA, or FOS Ltd, may (unless FEES 2.3.2B R applies)1 refund all or part of that fee or levy.
FEES 2.3.2BRRP
1The FSA may not consider a claim under FEES 2.3.1 R and/or FEES 2.3.2 R to reduce, remit or refund any overpaid amounts paid by a fee payer in respect of a particular period, due to a mistake of fact or law by the fee payer, if the claim is made by the fee payer more than 2 years after the beginning of the period to which the overpayment relates.
FEES 2.2.2GRP
The FSA, (for periodic fees, FOS and FSCS levies), FOS Ltd (for FOS case fees), expect to issue invoices at least 30 days before the date on which the relevant amounts fall due. FOS case fees are invoiced on a monthly basis. Accordingly it will generally be the case that a person will have at least 30 days from the issue of the invoice before an administrative fee becomes payable.2
FEES 2.2.3GRP
Paragraph 17(4) of Schedule 1 and section 99(5) to the Act permit the FSA to recover fees ( and, where relevant, FOS levies), and section 213(6) permits the FSCS to recover shares of the FSCS levy payable, as a debt owed to the FSA and FSCS respectively, and the FSA and FSCS, as relevant, will consider taking action for recovery (including interest) through the civil courts. Also, the FOS Ltd (in respect of case fees) may take steps to recover any money owed to it (including
FEES 2.2.4GRP
In addition, the FSA may be entitled to take regulatory action in relation to the non-payment of fees and FOS levies. FSA may also take regulatory action in relation to the non-payment of FOS case fees or share of the FSCS levy, after reference of the matter to FSA by FOS Ltd or FSCSrespectively. What action (if any) that is taken by the FSA will be decided upon in the light of the particular circumstances of the case.
FEES 5.1.7GRP
The purpose of this chapter is to set out the requirements on firms to pay annual fees (through a general levy and supplementary levy invoiced and collected by the FSA on behalf of FOS Ltd) and case fees (invoiced and collected directly by FOS Ltd) in order to fund the operation of the Financial Ombudsman Service.This chapter also contains a requirement on firms to pay a supplementary levy towards the costs of establishing the Financial Ombudsman Service. It also provides for
DISP 4.2.6RRP
The rules and guidance contained in DISP 3 will apply to VJ participants for the purposes of the Voluntary Jurisdiction as if they were firms (except where their application to VJ participants is specifically excluded or necessarily inapplicable).
FEES 5.9.3GRP
5Licensees will also continue to be liable for any case fees relating to chargeable cases closed by the Financial Ombudsman Service after they cease to be licensees. Licensees will be charged the standard case fee where the complaint was closed by the Financial Ombudsman Service before the end of the year in which they ceased to be licensees. The special case fee will apply to any complaint closed after the end of that year since the licensee will no longer be contributing to
FEES 5.7.1RRP
A firm must pay annually to the FSA the general levy and any supplementary levy to which it is subject, on or before the later of 1 April and 30 calendar days after the date when the invoice is issued by the FSA.
FEES 5.4.1RRP
(1) A firm must provide the FSA by the end of February each year (or, if the firm has become subject to the Financial Ombudsman Service part way through the financial year, by the date requested by the FSA) with a statement of the total amount of relevant business (measured in accordance with the appropriate tariff base(s)) which it conducted, as at or in the year to 31 December of the previous year as appropriate, in relation to the tariff base for each of the relevant industry