Related provisions for FEES 6.7.3

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FEES 2.1.1RRP
619Except to the extent referred to in FEES 2.1.1A R, this1619118 chapter applies to every person who is required to pay a fee or share of a levy to the FCA12, FOS Ltd or FSCS, as the case may be, by a provision of the Handbook.
FEES 2.1.1ARRP
619This chapter does not apply in relation to:88(1) FEES 5.5A; or8(2) FEES 5 Annex 2R; or8(3) FEES 5 Annex 3R; or8(4) a PSR fee8; or9(5) the pensions guidance levy; or10910(6) the pensions guidance providers’ levy; or1110(7) 11the FOS ADR levy.
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 the5FCA12or a share of the FSCS levy.619561956
FEES 2.1.5GRP
(1) The following enable the FCA to charge fees to cover its costs and expenses in carrying out its functions:13(a) paragraph 23 of Schedule 1ZA of the Act;13(b) regulation 92 of the Payment Services Regulations;13(c) regulation 59 of the Electronic Money Regulations;13(d) article 25(a) of the MCD Order;1513(e) regulation 21 of the Small and Medium Sized Businesses (Credit Information) Regulations. 13(f) regulation 18 of the Small and Medium Sized Business (Finance Platforms)
FEES 2.1.7GRP
The key components of the FCA12fee mechanism (excluding the FSCS5levy, the FOS5 levy and case fees, and the CFEB levy5which are dealt with in FEES 5,5FEES 6 and FEES 7)5 are:555(1) a funding requirement derived from:(a) the FCA’s12financial management and reporting framework;(b) the FCA’s12budget; and(c) adjustments for audited variances between budgeted and actual expenditure in the previous accounting year, and reserves movements (in accordance with the FCA’s12reserves policy);(2)
FEES 6.7.4RRP
.[deleted]6
FEES 6.7.5RRP
A participant firm liable to pay its share of the levy under FEES 6.7.-1R, 6.7.1R and 6.7.3R6 must do so using one of the methods set out in FEES 4.2.4 R save that no additional amount or discount is applicable.
FEES 6.7.6RRP
If a firm ceases to be a participant firm or carry out activities within one or more classes54 part way through a financial year6 of the compensation scheme:44(1) it will remain liable for any unpaid levies which the FSCS has already made on the firm; and41(2) the FSCS may make one or more levies4 upon it (which may be before or after the firm5 has ceased to be a participant firm or carry out activities within one or more classes5,4 but must be before it ceases to be an authorised
FEES 6.1.10GRP
A management expenses levy may consist of two 2elements. The first is a base costs levy, for 50% of12 the base costs of running the compensation scheme in a financial year12, that is, costs which are not dependent upon the level of activity of the compensation scheme and which therefore are not attributable to any specific class.9 The PRA allocates the other 50% of the base costs under its rules.12 Included in base costs12 are items such as the salary of the members of the board
FEES 6.1.11AGRP
10The second element of a management expenses levy is a specific costs levy for the "specific costs" of running the compensation scheme in a financial year12. These costs are attributable to a class, and include the salary costs of certain staff of the FSCS and claims handling and legal and other professional fees. It also may include the cost of any insurance cover that FSCS secures against the risk of FSCS paying out claims above a given level in any particular class (but below
FEES 13.2.3RRP
The IML levy is calculated as follows:(1) identify whether activity group CC1 or CC2 applies to the business of the firm for the relevant period (for this purpose, the activity groups are defined in accordance with Part 1 of FEES 4 Annex 1AR);(2) for each of those activity groups, calculate the amount payable in the way set out in FEES 13.2.4R;(3) add the amounts calculated under (2);(4) work out whether a minimum fee is payable under Part 2 of FEES 7 Annex 1R and if so how much;(5)
FEES 13.2.5RRP
For the purposes of FEES 13.2.4R:(1) a firm in activity group CC2 may apply the relevant tariff bases and rates to its 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’sUK business separately from its non-UK business in the way described in FEES 4 Annex 11BR 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
FEES 6.3.22RRP
The FSCS may adjust the calculation of a participant firm's share of any levy to take proper account of:(1) any excess, not already taken into account, between previous levies of that type imposed in relation to previous periods and the relevant costs actually incurred in that period; or(2) participant firms that are exempt from the levy under FEES 6.2; or(3) amounts that the FSCS has not been able to recover from participant firms as a result of FEES 6.3.5 R ; or2(4) amounts
FEES 6.3.23RRP
If a participant firm's share of a levy or an additional administrative fee under FEES 6.7.4 R would be so small that, in the opinion of the FSCS, the costs of collection would be disproportionate to the amount payable, the FSCS may treat the participant firm as if its share of the levy or additional administrative fee amounted to zero.
FEES 2.3.1RRP
If it appears to the FCA5 or48 the FSCS (in relation to any FSCS levy only) 2 that in the exceptional circumstances of a particular case, the payment of any fee, FSCS levy2,3FOS levy, CFEB levy, SFGB levy or DA levy7 would be inequitable, the FCA5 or48 the FSCS2 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. 483483648348
FEES 2.3.2RRP
If it appears to the FCA5 or48 the FSCS (in relation to any FSCS levy only)2 that in the exceptional circumstances of a particular case to which FEES 2.3.1R does not apply, the retention by the FCA5 the FSCS,2 or the CFEB3, as relevant, of a fee, FSCS levy2,3FOS levy, CFEB levy, SFGB levy or DA levy7 which has been paid would be inequitable, the FCA5 the FSCS2 or the CFEB3, may (unless FEES 2.3.2B R applies)1 refund all or part of that fee or levy.4834834836348
FEES 2.3.2AGRP
1A poor estimate or forecast by a fee or levy 2payer, when providing information relevant to an applicable tariff base, is unlikely, of itself, to amount to an exceptional circumstance for the purposes of FEES 2.3.1 R or FEES 2.3.2 R. By contrast, a mistake of fact or law by a fee or levy 2payer may give rise to such a claim.
FEES 2.3.2BRRP
1The FCA5or the FSCS2may 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 or levy2 payer in respect of a particular period, due to a mistake of fact or law by the fee or levy2 payer, if the claim is made by the fee or levy2 payer more than 2 years after the beginning of the period to which the overpayment relates.
FEES 6.5.9RRP
A firm or a recognised investment exchange14 which becomes a participant firm part way through a financial year13 of the compensation scheme will not be liable to pay a share of a compensation costs levy or specific costs levy15 made in that year.4[Note: since a firm that becomes a participant firm in the course of a financial year of the compensation scheme will already be obtaining a discount in relation to the base costs levy through the modified fee provisions of FEES 4.2.7ER,
FEES 6.5.16RRP
If a participant firm does not submit a complete statement by the date on which it is due in accordance with FEES 6.5.13 R and any prescribed submission procedures:(1) the firm must pay an administrative fee of £250 (but not if it is already subject to an administrative fee under FEES 4 Annex 2A R, Part 116 or FEES 5.4.1 R for the same financial year13); and16(2) the compensation costs levy and any specific costs levy will be calculated using (where relevant) the valuation or
FEES 6.4.10GRP
[deleted]8517991
FEES 1.1.1GRP
(1) FEES applies to all persons required to pay a fee or levy under a provision of the Handbook. The purpose of this chapter is to set out to whom the rules and guidance in FEES apply. 30(2) FEES 2 (General Provisions) contains general provisions which may apply to any type of fee payer.30(3) FEES 3 (Application, Notification and Vetting Fees) covers one-off fees payable on a particular event for example:3330(a) 33various application fees (including those in relation to authorisation,
FEES 2.2.1RRP
If a person does not pay the total amount of a periodic fee3, FOS levy, or share of the FSCS levy,18CFEB levy, SFGB levy or DA levy19, before2 the end of the2 date on which it is due, under the relevant provision in FEES 4, 5, 6, 7, 7A or 7B,19 that person must pay an additional amount as follows: 342972161826618(1) if the fee was not paid in full before the end of the due date, an administrative fee of £250; plus(2) interest on any unpaid part of the fee at the rate of 5% per
FEES 2.2.2GRP
The FCA20, (for FCA and PRA20periodic fees, FOS and FSCS levies, CFEB levies, SFGB levies and a DA levy19), expects11 to issue invoices at least 30 days before the date on which the relevant amounts fall due. 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.20186721117212
FEES 2.2.3GRP
(1) Paragraph15 23(8) of Schedule 1ZA of the Act permits the FCA to recover fees (including fees relating to payment services, the issuance of electronic money, 17CBTL firms, data reporting services providers,17designated credit reference agencies, designated finance platforms16 and, where relevant, FOS levies, CFEB levies, SFGB levies, and a DA levy19).1418(2) Section 213(6) of the Act permits the FSCS to recover shares of the FSCS levy payable, as a debt owed to the FCA and
FEES 2.2.4GRP
In addition, the FCA13may be entitled to take regulatory action in relation to the non-payment of fees,6FOS levies, CFEB levies, SFGB levies and a DA levy19. The FCA136 may also take regulatory action in relation to the non-payment of a721 share of the FSCS levy, after reference of the matter to the6FCA13 by the6FSCS. What action (if any) that is taken by the FCA13will be decided upon in the light of the particular circumstances of the case.66187216721721
FEES 4.3.17RRP
(1) 21This rule applies if: (a) a firm (A)(i) (A) acquires all or a part of the business of another firm (B), whether by merger, acquisition of goodwill or otherwise; and(B) would be required to pay a periodic fee in the fee year in which the acquisition takes place; or(ii) becomes authorised or registered as a result of another firm’s (B) simple change of legal status (as defined in FEES 3 Annex 1R Part 6); and(b) had that acquisition or simple change of legal status (or any
FEES 12.3.1RRP
If FOS Ltd does not pay the total amount of the FOS ADR levy before the end of the date on which it is due, it must pay:(1) an administrative fee of £250; and(2) interest on any unpaid part of the levy at an annual rate of 5% above the Official Bank Rate from time to time in force, accruing daily from the date on which the amount concerned became due.
FEES 5.7.1RRP
A firm must pay annually to the FCA the general levy on or before the later of 1 April and 30 calendar days after the date when the invoice is issued by the FCA.1
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 invoiced and collected by the FCA 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 Chapter4 also provides for unauthorised persons to pay case fees to FOS Ltd in respect of any relevant complaints which it handles.44
DISP 4.2.6RRP
The following rules in FEES apply to VJ participants as part of the standard terms, but substituting 'VJ participant' for 'firm':(1) FEES 2.2.1 R (late payment) but substituting 'FOS Ltd' for 'the FCA';1515(2) FEES 2.3.1 R and 2.3.2 R (remission of fees);(3) [deleted]18(4) FEES 5.3.6 R (general levy) but substituting:(a) 'Voluntary Jurisdiction' for 'Compulsory Jurisdiction'; and(b) 'FOS Ltd' for 'the FCA';1515(5) FEES 5.3.8 R (calculation of general levy) but substituting:18(a)
DISP 4.2.7RRP
A VJ participant may not withdraw from the Voluntary Jurisdiction unless:(1) the VJ participant has submitted to FOS Ltd a written plan for:(a) notifying its existing customers of its intention to withdraw; and(b) handling complaints against it before its withdrawal;(2) the VJ participant has paid the general levy for the year in which it withdraws and any other fees payable; and(3) FOS Ltd has approved in writing both the VJ Participant's plan and the date of withdrawal (which
SUP 16.12.18BRRP
The applicable data items, reporting frequencies and submission deadlines referred to in SUP 16.12.4 R are set out in the table below. Reporting frequencies are calculated from a firm'saccounting reference date, unless indicated otherwise. The due dates are the last day of the periods given in the table below following the relevant reporting frequency period.46Description of data itemData item (note 1)FrequencySubmission deadlineBalance SheetSections A.1 and A.2 MLARQuarterly20
SUP 16.12.22ARRP
2The applicable data items referred to in SUP 16.12.4 R are set out according to type of firm in the table below:45Description ofData itemFirms' prudential category and applicable data item (note 1)IFPRUBIPRU firmExempt CAD firmssubject toIPRU(INV)Chapter 13Firms(other thanexempt CAD firms) subject toIPRU(INV)Chapter 13Firmsthat are also in one or more ofRAGs1 to 6 and not subject toIPRU(INV)Chapter 13Solvency statementNo standard format (note 11)Balance SheetFSA001/FINREP (Notes
SUP 16.12.28ARRP
2The applicable data items, reporting frequencies and submission deadlines referred to in SUP 16.12.4 R are set out in the table below. Reporting frequencies are calculated from a firm'saccounting reference date, unless indicated otherwise. The due dates are the last day of the periods given in the table below following the relevant reporting frequency period.Description of data item11Data item11 (note 1)FrequencySubmission deadlineAnnual regulated business revenue up to and including
FEES 2.4.1RRP
1All fees payable or any stated hourly rate under FEES 3 (Application, notification and vetting fees),2FEES 4 (Periodic fees), FEES 7 (The CFEB levy) 2and FEES 7A (The SFGB levy), and FEES 7B (The DA levy)4 are stated net of VAT. Where VAT is applicable this must also be included.3