Related provisions for SUP 8.3.5

SUP 8.3.3AG30/09/2019

(1) 59The PRA’s7 preferred method of submission for waiver applications is by e-mail.9 The FCA’s preferred method of submission for waiver applications is through online submission via the FCA’s website at www.fca.org.uk.75(2) The form is available on the appropriate regulator's website.9559

SUP 8.3.4AG01/04/2013

9Firms or persons other than PRA-authorised persons should send applications for waivers or applications for variations of waivers to the FCA.

SUP 8.3.4BG01/04/2013

9PRA-authorised persons should send applications for waivers or applications for variations of waivers to: (1) the FCA in respect of rules in the FCA Handbook applicable to that PRA-authorised person; and(2) the PRA in respect of rules in the PRA Handbook.

SUP 8.3.5AG01/04/2013

The appropriate regulator9 will treat a firm's application for a waiver as withdrawn if it does not hear from the firm within 20 business days of sending a communication which requests or requires a response from the firm. The appropriate regulator9 will not do this if the firm has made it clear to the appropriate regulator9 in some other way that it intends to pursue the application. 3999

SUP 8.3.8G01/04/2013

A firm may withdraw its application at any time up to the giving of the waiver. In doing so, a firm should give the appropriate regulator9 its reasons for withdrawing the application.9

SUP 8.3.13G01/04/2013

For an application for a waiver of the presumption of contravention of a binding rule, which is actionable under section 138D9 of the Act, the appropriate regulator9 would normally wish to be satisfied that the evidential rule is itself unduly burdensome or does not achieve the purpose of the rule.299

SUP 6.3.36AG01/04/2013

27Where the application cannot be determined by the PRA without the consent of the FCA, section 55V(3) of the Act requires that the FCA's decision must also be made within the period required in SUP 6.3.35 G or SUP 6.3.36 G as appropriate.

SUP 10C.11.2G09/12/2019

(1) This section is about the FCA's requirements for statements of responsibilities.(2) However, in the case of a PRA-authorised person,6 where applications and notifications relate both to FCA-designated senior management functions and to PRA ones, the regulators’ requirements are consistent with each other.(3) The general material in this section (SUP 10C.11.13D5 to SUP 10C.11.35G) applies to statements of responsibilities submitted in all the cases covered by this section.

SUP 10C.11.19G02/06/2021

Table: Examples5 of how the requirements for submitting statements of responsibilities work

1Example	Comments
(1) A firm applies for approval for A to perform the executive director function 5 and the money laundering reporting function 5.	There should be a single statement of responsibilities document that covers the two functions. The combined document should be included with the application for approval.
(2) Firm X applies for approval for A to perform the executive director function 5. Firm Y applies for approval for A to perform the money laundering reporting function. Both firms are SMCR firms 5.	There should be separate statements of responsibilities for each firm. This is the case even if Firm X and Firm Y are in the same group.
(3) A firm applies for approval for A to perform an FCA-designated senior management function and a PRA-designated senior management function. The arrangements in SUP 10C.9 for FCA functions to be absorbed into PRA ones do not apply and so there are separate applications to the FCA and PRA. The firm is a PRA-authorised person.6	The single statement of responsibilities document should cover both the FCA and the PRA functions.
(4) A has approval to perform the executive director function 5. Later, A is to be appointed to perform the money laundering reporting function 5 for the same firm. This will also result in substantial changes to A’s duties as an executive director.	The firm should not use Form J to notify the changes to A’s duties as an executive director. The firm should submit a revised single statement of responsibilities document along with the application to perform the money laundering reporting function 5. The single statement of responsibilities document should cover both functions. The part relating to A’s duties as an executive director should be updated.
(5) A has approval to perform the executive director function 5. Later, A is to be appointed to perform the PRA's chief risk officer designated senior management function for the same firm. This will also result in substantial changes to A’s duties as an executive director. The firm is a PRA-authorised person.6	The firm should not use Form J to notify the changes to A’s duties as an executive director. The firm should submit a revised single statement of responsibilities document along with the application to perform the PRA function. The firm should not submit the revised single statement of responsibilities document separately to the FCA. Instead, it should include it as part of the application to the PRA. The single statement of responsibilities document should cover both the FCA and the PRA functions. The part relating to A’s duties as an executive director should be updated.
(6) A has approval to perform the money laundering reporting function 5. The approval to perform the money laundering reporting function 5 is subject to a condition. The firm is applying to vary that condition.	The firm should include a revised statement of responsibilities with the application. The firm should not use Form J. It should submit a revised statement of responsibilities along with the application to vary the approval.
(7) A has approval to perform the executive director function 5 and the money laundering reporting function 5 for the same firm. The approval to perform the money laundering reporting function 5 is subject to a condition. The firm is applying to vary that condition. As part of the same arrangements, there are to be substantial changes to A’s job as an executive director.	The firm should not use Form J to notify the changes to A’s duties as an executive director. The firm should submit a revised single statement of responsibilities document along with the application to vary the approval for the money laundering reporting function 5. The single statement of responsibilities document should be updated and should cover both functions.
(8) A has approval to perform the executive director function 5 and the PRA's chief risk officer designated senior management function for the same firm. The arrangements in SUP 10C.9 for FCA functions to be absorbed into PRA ones do not apply and so there are separate FCA and PRA approvals. The approval to perform the PRA's chief risk officer designated senior management function is subject to a condition. The firm is applying to vary that condition. As part of the same arrangements, there are to be substantial changes to A’s job as an executive director. The firm is a PRA-authorised person.6	The firm should not use Form J to notify the changes to A’s duties as an executive director. The firm should submit a revised single statement of responsibilities document along with the application to vary the PRA function. The firm should not submit the revised document separately to the FCA. Instead it should include it as part of the application to the PRA. The single statement of responsibilities document should cover both the FCA and the PRA functions and should be updated.
(9) A has approval to perform the executive director function 5 and the money laundering reporting function 5 for the same firm. Sometime later, A is to give up the money laundering reporting function 5 and take up the PRA's chief risk officer designated senior management function. This will involve major changes to A’s role as executive director. The firm is a PRA-authorised person.6	The answer to example (5) applies. The application to the PRA to perform the PRA function should be accompanied by a single document that: (1) contains the statement of responsibilities for the new function; (2) contains the revised statement of responsibilities for the executive director function 5; and (3) reflects the fact that A is no longer performing the money laundering reporting function 5.
(10) A firm has approval for A to perform the executive director function 5 and the money laundering reporting function 5. A then ceases to perform the money laundering reporting function 5 but continues to perform the executive director function.5	The firm must submit: (a) Form C for the money laundering reporting function 5; (b) Form J; and (c) a single updated statement of responsibilities document that covers the executive director function and reflects the fact that A is no longer performing the money laundering reporting function 5.
(11) A has approval to perform the executive director function 5 and the PRA's chief risk officer designated senior management function for the same firm. Later, A gives up his role as chief risk officer. The firm is a PRA-authorised person.6	The firm must submit: (a) Form C for the PRA function; (b) Form J; and (c) a single updated statement of responsibilities document that covers the executive director function 5. The firm should not submit the revised single statement of responsibilities document separately to the FCA. Instead, it should include it as part of the notification to the PRA.
(12) A has approval to perform the executive director function 5. Later, A is to be appointed to perform the money laundering reporting function 5 for the same firm. The application is rejected.	The single statement of responsibilities document submitted as part of the application will no longer be correct as it reflects the proposed new approval. If the only changes to the single document in the version sent with the application are ones5 clearly and exclusively tied to the new function, the firm will not need to amend the document as the changes will automatically fall away. In any other case (for instance if the application is approved conditionally), it is likely that the firm will need to update it using Form J. In any case, the FCA may contact the firm to agree a revised single statement of responsibilities document.
(13) A has approval to perform the money laundering reporting function 5. Later, A is to be appointed as an executive director5 for the same firm. This will not result in any significant5 changes to A’s duties in the money laundering reporting function 5. However, there have been some insignificant changes to A’s role in the money laundering reporting function 5 since the firm submitted the most recent single statement of responsibilities document. The changes are not connected to A’s appointment as executive director5.	The answer for example (4) applies. The single statement of responsibilities document should be updated to cover the changes to A’s duties in the money laundering role as well as covering A’s appointment to perform the executive director function. It does not matter that the changes to A’s money laundering role5 are not significant.
(14) A has approval to perform the executive director function 5. Later, A’s business unit grows in size and so the firm needs to apply for A to be approved to perform the PRA's Head of Key Business Area designated senior management function. However, A’s responsibilities do not change. The firm is a PRA-authorised person.6	The firm should submit a revised single statement of responsibilities document along with the application to perform the PRA function. The firm should submit a single statement of responsibilities document that covers both the FCA and the PRA functions. It should not submit the revised single statement of responsibilities document separately to the FCA. Instead, it should include it as part of the application to the PRA.
2(15) Firm X has a branch in the United Kingdom. Firm Y is a UK authorised subsidiary 3 of firm X. Firm X is an overseas SMCR firm that is not an EEA SMCR firm 5 and firm3 Y is a UK SMCR firm 5. Both firms apply for approval for the same individual (P) to perform the executive director function 5. 3	There should be separate statement of responsibilities for P for each firm.
7(16) An FCA-approved SMF manager goes on or returns from a temporary absence of longer than 12 weeks.	The firm must submit: (a) Form D (SUP 10C Annex 6R); (b) Form J (SUP 10C Annex 9D); and (c) an updated statement of responsibilities document (SUP 10C Annex 10D).
Note:5 The single statement of responsibilities document means the single document described in SUP 10C.11.13D.5

1Example

Comments

(1) A firm applies for approval for A to perform the executive director function 5 and the money laundering reporting function 5.

There should be a single statement of responsibilities document that covers the two functions.

The combined document should be included with the application for approval.

(2) Firm X applies for approval for A to perform the executive director function 5. Firm Y applies for approval for A to perform the money laundering reporting function. Both firms are SMCR firms 5.

There should be separate statements of responsibilities for each firm.

This is the case even if Firm X and Firm Y are in the same group.

(3) A firm applies for approval for A to perform an FCA-designated senior management function and a PRA-designated senior management function.

The arrangements in SUP 10C.9 for FCA functions to be absorbed into PRA ones do not apply and so there are separate applications to the FCA and PRA.

The firm is a PRA-authorised person.6

The single statement of responsibilities document should cover both the FCA and the PRA functions.

(4) A has approval to perform the executive director function 5. Later, A is to be appointed to perform the money laundering reporting function 5 for the same firm. This will also result in substantial changes to A’s duties as an executive director.

The firm should not use Form J to notify the changes to A’s duties as an executive director.

The firm should submit a revised single statement of responsibilities document along with the application to perform the money laundering reporting function 5.

The single statement of responsibilities document should cover both functions. The part relating to A’s duties as an executive director should be updated.

(5) A has approval to perform the executive director function 5. Later, A is to be appointed to perform the PRA's chief risk officer designated senior management function for the same firm. This will also result in substantial changes to A’s duties as an executive director.

The firm is a PRA-authorised person.6

The firm should not use Form J to notify the changes to A’s duties as an executive director.

The firm should submit a revised single statement of responsibilities document along with the application to perform the PRA function.

The firm should not submit the revised single statement of responsibilities document separately to the FCA. Instead, it should include it as part of the application to the PRA.

The single statement of responsibilities document should cover both the FCA and the PRA functions. The part relating to A’s duties as an executive director should be updated.

(6) A has approval to perform the money laundering reporting function 5. The approval to perform the money laundering reporting function 5 is subject to a condition. The firm is applying to vary that condition.

The firm should include a revised statement of responsibilities with the application.

The firm should not use Form J. It should submit a revised statement of responsibilities along with the application to vary the approval.

(7) A has approval to perform the executive director function 5 and the money laundering reporting function 5 for the same firm. The approval to perform the money laundering reporting function 5 is subject to a condition. The firm is applying to vary that condition. As part of the same arrangements, there are to be substantial changes to A’s job as an executive director.

The firm should not use Form J to notify the changes to A’s duties as an executive director.

The firm should submit a revised single statement of responsibilities document along with the application to vary the approval for the money laundering reporting function 5.

The single statement of responsibilities document should be updated and should cover both functions.

(8) A has approval to perform the executive director function 5 and the PRA's chief risk officer designated senior management function for the same firm. The arrangements in SUP 10C.9 for FCA functions to be absorbed into PRA ones do not apply and so there are separate FCA and PRA approvals.

The approval to perform the PRA's chief risk officer designated senior management function is subject to a condition. The firm is applying to vary that condition. As part of the same arrangements, there are to be substantial changes to A’s job as an executive director.

The firm is a PRA-authorised person.6

The firm should not use Form J to notify the changes to A’s duties as an executive director.

The firm should submit a revised single statement of responsibilities document along with the application to vary the PRA function.

The firm should not submit the revised document separately to the FCA. Instead it should include it as part of the application to the PRA.

The single statement of responsibilities document should cover both the FCA and the PRA functions and should be updated.

(9) A has approval to perform the executive director function 5 and the money laundering reporting function 5 for the same firm.

Sometime later, A is to give up the money laundering reporting function 5 and take up the PRA's chief risk officer designated senior management function. This will involve major changes to A’s role as executive director.

The firm is a PRA-authorised person.6

The answer to example (5) applies.

The application to the PRA to perform the PRA function should be accompanied by a single document that:

(1) contains the statement of responsibilities for the new function;

(2) contains the revised statement of responsibilities for the executive director function 5; and

(3) reflects the fact that A is no longer performing the money laundering reporting function 5.

(10) A firm has approval for A to perform the executive director function 5 and the money laundering reporting function 5.

A then ceases to perform the money laundering reporting function 5 but continues to perform the executive director function.5

The firm must submit:

(a) Form C for the money laundering reporting function 5;

(b) Form J; and

(c) a single updated statement of responsibilities document that covers the executive director function and reflects the fact that A is no longer performing the money laundering reporting function 5.

(11) A has approval to perform the executive director function 5 and the PRA's chief risk officer designated senior management function for the same firm. Later, A gives up his role as chief risk officer.

The firm is a PRA-authorised person.6

The firm must submit:

(a) Form C for the PRA function;

(b) Form J; and

(c) a single updated statement of responsibilities document that covers the executive director function 5.

The firm should not submit the revised single statement of responsibilities document separately to the FCA. Instead, it should include it as part of the notification to the PRA.

(12) A has approval to perform the executive director function 5. Later, A is to be appointed to perform the money laundering reporting function 5 for the same firm.

The application is rejected.

The single statement of responsibilities document submitted as part of the application will no longer be correct as it reflects the proposed new approval.

If the only changes to the single document in the version sent with the application are ones5 clearly and exclusively tied to the new function, the firm will not need to amend the document as the changes will automatically fall away.

In any other case (for instance if the application is approved conditionally), it is likely that the firm will need to update it using Form J.

In any case, the FCA may contact the firm to agree a revised single statement of responsibilities document.

(13) A has approval to perform the money laundering reporting function 5. Later, A is to be appointed as an executive director5 for the same firm.

This will not result in any significant5 changes to A’s duties in the money laundering reporting function 5. However, there have been some insignificant changes to A’s role in the money laundering reporting function 5 since the firm submitted the most recent single statement of responsibilities document. The changes are not connected to A’s appointment as executive director5.

The answer for example (4) applies.

The single statement of responsibilities document should be updated to cover the changes to A’s duties in the money laundering role as well as covering A’s appointment to perform the executive director function. It does not matter that the changes to A’s money laundering role5 are not significant.

(14) A has approval to perform the executive director function 5. Later, A’s business unit grows in size and so the firm needs to apply for A to be approved to perform the PRA's Head of Key Business Area designated senior management function. However, A’s responsibilities do not change.

The firm is a PRA-authorised person.6

The firm should submit a revised single statement of responsibilities document along with the application to perform the PRA function.

The firm should submit a single statement of responsibilities document that covers both the FCA and the PRA functions.

It should not submit the revised single statement of responsibilities document separately to the FCA. Instead, it should include it as part of the application to the PRA.

2(15) Firm X has a branch in the United Kingdom. Firm Y is a UK authorised subsidiary 3 of firm X.

Firm X is an overseas SMCR firm that is not an EEA SMCR firm 5 and firm3 Y is a UK SMCR firm 5.

Both firms apply for approval for the same individual (P) to perform the executive director function 5.

3

There should be separate statement of responsibilities for P for each firm.

7(16) An FCA-approved SMF manager goes on or returns from a temporary absence of longer than 12 weeks.

The firm must submit:

(a) Form D (SUP 10C Annex 6R);

(b) Form J (SUP 10C Annex 9D); and

(c) an updated statement of responsibilities document (SUP 10C Annex 10D).

Note:5 The single statement of responsibilities document means the single document described in SUP 10C.11.13D.5

SUP 8.6.1G01/04/2013

The appropriate regulator4 is required by sections 138B(1) and (2)4 of the Act to publish a waiver unless it is satisfied that it is inappropriate or unnecessary to do so. If the appropriate regulator4 publishes a waiver, it will not publish details of why a waiver was required or any of the supporting information given in a waiver application.444

SUP 8.6.7G01/04/2013

If, after taking into account the matters in SUP 8.3.3 D to SUP 8.6.6 G, a firm believes there are good grounds for the appropriate regulator4 either to withhold publication or to publish the waiver without disclosing the identity of the firm, it should make this clear in its application. If the appropriate regulator4proposes to publish a waiver against the wishes of the firm, the appropriate regulator4 will give the firm the opportunity to withdraw its application before the

SUP 6.2.4AG01/04/2013

1If a firm intends to transfer its business to a different legal entity it will need to apply to the relevant regulator8 for cancellation of its Part 4A permission8 and the entity to which the business is to be transferred will need to apply for a Part 4A permission.88888

SUP 6.2.14G01/04/2013

A firm making an application in accordance with SUP 68 which requires any approval from the Society of Lloyd's should apply to the Society for this at the same time as applying to the relevant regulator.8 See SUP 6 Annex 4 for additional procedures.88

DEPP 2.5.6AG07/03/2016

6FCA staff under executive procedures will take the decision where the FCA is proposing or deciding to:(1) refuse its consent to the granting by the PRA of an application for a Part 4A permission, or give its consent subject to conditions; (2) refuse its consent to the granting by the PRA of an application for the variation of a Part 4A permission, or give its consent subject to conditions; or(3) refuse its consent to the granting by the PRA of an application to perform a controlled

DEPP 2.5.18G26/11/2021

Some of the distinguishing features of notices given under enactments other than the Act are as follows: (1) [deleted]66(2) [deleted]66(3) Friendly Societies Act 1992, section 58A1: The warning notice and decision notice must set out the terms of the direction which the FCA6 proposes or has decided to give and any specification of when the friendly society is to comply with it. A decision notice given under section 58A(3) must give an indication of the society's right, given by

DEPP 1.2.4BG01/04/2013

2Where an application for Part 4A permission is made to the PRA as the appropriate regulator (section 55A(2)(a) of the Act), the PRA may only give permission with the consent of the FCA (section 55F of the Act). FCA consent can be conditional on the PRA imposing limitations or specifying the permission is for certain regulated activities only.

DEPP 1.2.4DG07/03/2016

2Where an application to perform a controlled function is made to the PRA as the appropriate regulator, the PRA can only approve a person to perform a controlled function with the consent of the FCA (section 59(4)(b) of the Act). Where the application is a relevant senior management application, the FCA’s consent can be conditional on the PRA imposing conditions, or the PRA giving approval only for a limited period.3

SUP 10C.9.9G02/06/2021

Table: Examples of how the need for dual FCA and PRA approval in relation to PRA-authorised persons is reduced

1Example	Whether FCA approval required	Whether PRA approval required	Comments
(1) A is appointed as chief risk officer and an executive director.	No. A4 is not treated as performing the executive director function.4	Yes	Chief risk officer is a PRA-designated senior management function. A’s functions as a director will be included in the PRA-designated senior management function. To avoid the need for FCA approval, A’s appointment as director should not take effect before PRA approval for the chief risk officer role.
(2) Same as example (1), except that A will take up the role as an executive director slightly later because 4approval is needed from the firm's shareholders or governing body.	No	Yes	The answer for (1) applies. The arrangements in this section apply if the application to the PRA says that A will start to perform the potential FCA governing function around the time of the PRA approval as well as at that time.
(3) Same as example (1) but the application to the PRA does not mention that it is also intended that A is to be an executive director.	Yes, to perform the executive director function.4	Yes	SUP 10C.9.8R does not apply if the application for PRA approval does not say that A will also be performing what would otherwise be an FCA governing function.
(4) A is to be appointed as chief executive and an executive director.	No. A is not treated as performing the executive director function.4	Yes	Being a chief executive is a PRA-designated senior management function. A’s functions as a director will be included in the PRA controlled function.
(5) A is appointed as chief risk officer. Later, A is appointed as an executive director while carrying on as chief risk officer.	Yes, when A takes up the director role. The executive director function 4 applies.	Yes, when A takes up the chief risk officer role.	SUP 10C.9.8R does not apply because, when the firm applied for approval for A to perform the PRA chief risk officer designated senior management function, there was no plan for A also to perform the executive director function 4.
(6) A is appointed as an executive director. Later, A takes on the chief risk officer function and remains as an executive director.	Yes, when A is appointed as director. The executive director function 4 applies.	Yes, when A takes up the chief risk officer role.	When A is appointed as chief risk officer, A is still treated as carrying on the executive director function 4. A retains the status of an FCA-approved person.
(7) A is appointed as chief risk officer. A then stops performing that role and for a while does not perform any controlled function for that firm. Later, A is appointed as an executive director with the same firm.	Yes, when A is appointed as an executive director. The executive director function 4 applies.	Yes, when A takes up the chief risk officer role.	SUP 10C.9.8R does not apply because there is no current PRA approval when A is being appointed as a director.
(8) A is appointed as an executive director and chief risk officer at the same time. Later, A gives up the role as chief risk officer but remains as an executive director.	No, on A’s first appointment (see example (1)). But when A gives up the role as chief risk officer, FCA approval is needed to perform the executive director function 4. Form E should be used. The application should state that it is being made as a result of A ceasing to perform a PRA-designated senior management function. Form A should be used if there have been changes in A’s fitness (SUP 10C.10.9D(4))	Yes, on A’s first appointment.	When A stops being a chief risk officer, A stops performing a PRA-designated senior management function. However, being an executive director requires FCA approval. A does not have that approval because A did not need it when A was first appointed. The combined effect of SUP 10C.9.8R and the relevant PRA rules is that the firm has three months to secure approval by the FCA. During that interim period, A keeps the status of a PRA approved person performing the director element of the PRA chief risk designated senior management function - which is included in that function under relevant PRA rules. The relevant PRA rules say that, during this transitional period, A is still treated as performing the PRA chief risk designated senior management function and SUP 10C.9.8R says that, for as long as A is performing a PRA-designated senior management function, A does not perform the executive director function 4.
(9) A is appointed as the chief finance officer and an executive director at the same time. Later, A switches to being chief risk officer while remaining as an executive director.	No	Yes	The arrangements in SUP 10C.9.8R continue to apply, even though A switches between PRA-designated senior management functions 4 after the PRA's first approval.
(10) A is appointed chief risk officer and an executive director. A goes on temporary sick leave. A takes up their old job when A4 comes back.	No, neither on A’s first appointment nor when A comes back from sick leave.	Yes, on A’s first appointment.6	SUP 10C.9.8R still applies on A’s return because A does not cease to have approval for6 the PRA's chief risk function or permanently cease to perform6 what would otherwise have been the executive director function 4 just because A goes on temporary sick leave.
(11) A is appointed to be chair4 of the governing body and chair4 of the nomination committee at the same time.	No. A does not need approval to perform the chair of the nomination committee function.	Yes, on first appointment.	Being chair4 of the governing body is a PRA-designated senior management function. Therefore, the answer for example (1) applies.
2(12) ‘A’ is to be appointed to perform the Head of Overseas Branch PRA-designated senior management function (SMF19) for a an overseas SMCR firm that is not an EEA SMCR firm.4 A is also an executive director of that firm’s UK branch.	No. A is not treated as performing the executive director function 4. 3	Yes	A’s functions as a director will be included in the PRA controlled function.
Note 1: The relevant PRA rules can be found in the parts of the PRA Rulebook listed in SUP 10C.9.6G.4
Note 2: Where one of the examples in this table includes someone being chief risk or finance officer or chair of the governing body, the example assumes that the firm is of a type for which that function is a PRA-designated senior management function.4

SUP 10C.15.11R10/12/2018

(1) An application or submission by a firm made under this rule must be made by submitting the form or document online at fca.org.uk using the FCA's and PRA'sonline notification and application system6.(2) A firm must use the version of the form or document made available on the electronic system referred to in (1). If the form or document is included in an Annex to this chapter, that electronic version is based on the version found in the applicable Annex to this chapter 6(which

FEES 3.2.7R06/11/2023

Table of application, notification, vetting and other fees payable to the FCA32

31

Part 1A: Application, notification and vetting fees66 31
31(1) Fee payer	(2) Fee payable (£)37 by reference to the pricing category in FEES 3 Annex 1AR.66	Due date
(a) Any applicant for Part 4A permission (including an incoming firm applying for top-up permission) whose fee is not payable pursuant to sub- paragraph (zza)52 of this table 26	(1) Unless (2) or (3)66 applies, in1 respect of a particular application, the highest of the tariffs set out in FEES 3 Annex 1AR66 which apply to that application. 66(2) 50% of the tariff payable under (1) is payable when either (a) or (b) apply: 66(a) the application is one referred to in paragraph p; or 66(b) the application is a limited permission case under FEES 3 Annex 1. (3) If the applicant applies for registration under article 8(1) of the MCD Order at the same time as applying for a Part 4A permission 66, the fee payable is the higher of: 75 (i) the fee 66payable in (1) or (2); and 75 (ii) the fee payable in FEES 3 Annex 10AR. 75 (4) [deleted]66 1 41 75 1 34 34 34 34 34 34 34 41	On or before the application is made
(aa) A person who makes an application under section 24A of the Consumer Credit Act 1974 which meets the conditions of article 31 (Applications for a standard licence where no determination made before 1 April 2014) of the Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) (No 2) Order 2013 (the “relevant application”)30	As (a) above less any amount paid to the Office of Fair Trading in relation to the relevant application.	Within 30 days of the date of the invoice.
(b) [deleted]56 4
(c) [deleted]66
(d) [deleted]66 27	27 27
(da) Persons making an application or notification in relation to applications set out in FEES 3 Annex 2R: 66(i) authorisation order for or recognition under section 272 of the Act of a collective investment scheme; 66(ii) application for the authorisation of an AIF as an LTIF; 68 66(v) an AIFM notifying the FCA of its intention to market an AIF in the UK under regulation 58 or 59 of the AIFMD UK regulation; and68 66(vi) an applicant for registration on the register of small registered UK AIFM. 58 36 66 66	Category applicable to the application or notification set out in FEES 3 Annex 2R66 36	On or before the date the application or notification66 is made 36
(e) Any applicant making an application set out in FEES 3 Annex 14R - Other FCA application fees:66 66(i) Any person seeking an order under section 326(1) of the Act to become a designated professional body; 66(ii) applicant to be added to the list of designated investment exchanges; 66(iii) any applicant for recognition as an accredited body; 66(iv) any applicant for registration under regulation 14 of the Risk Transformation Regulations as a protected cell company; 66(v) an application for recognition of an administrator in accordance with article 32 of the benchmarks regulation; 66(vi) an application for endorsement of a benchmark or family of benchmarks in accordance with article 33 of the benchmarks regulation; 66(vii) an application for authorisation under regulation 7 of the DRS Regulations, or the operator of a trading venue seeking verification of their compliance with Title V of MiFID under regulation 8 of the DRS Regulations; 66(viii) an application for variation of an authorisation under regulation 12 of the DRS Regulations; 66(ix) an application for connection to the market data processor system to provide reports directly to the FCA under MiFIR; 66(x) an application to connect to the market data processor system to provide markets data (other than transaction reports) under MAR 10; 66(xi) an application for authorisation as a third party verifier; (xii) an application for, to vary or cancel an approver permission 70. 27 27 27	Pricing category applicable to the application set out in FEES 3 Annex 14R66 27 27	As specified in FEES 3 Annex 14R66 28
28(ea) [deleted]66 56 56
(eb) [deleted]66 28
(f) Persons making an application referred to in FEES 3 Annex 15R – Transaction fees:66 66(i) any applicant for a certificate under article 54 of the Regulated Activities Order; 66(ii) a transferor in the case of an insurance business transfer scheme; 66(iii) an issuer applying for registration of a regulated covered bond; 66(iv) an issuer who proposes to make a material change to the contractual terms of a regulated covered bond under RCB 3.5.4D; 66(v) an applicant for FCA permission for: 66i. an agreement to be enforced under section 28A(3)(a) of the Act; or 66ii. money paid or property transferred under the agreement to be retained under section 28A(3)(b) of the Act. (vi) 67Applications in respect of controlled functions under the Senior Managers and Certification Regime (SMCR), including applications by principal firms in respect of SMCR functions in appointed representatives.	Pricing category applicable to the application or notification set out in FEES 3 Annex 15R.66	As specified in FEES 3 Annex 15R66
(g) Any applicant for recognition as a UK recognised body:62 (i) under section 287 of the Act; or62 (ii) under regulation 2(1) of the RAP regulations 62 56 17 73 17 17	FEES 3 Annex 3, part 1	On or before the date the application is made26
(ga) [deleted]52 26 35 35 35
(h) Any applicant for recognition as an ROIE 73 under section 287 or section 292 of the Act 73 73	FEES 3 Annex 3, part 2	On or before the date the application is made
(i) [deleted]35 35	35	35
(j) [deleted]38	38	38
(k) [deleted]35 35	35	35
(l) [deleted]38	38 7 2	38
(m) [deleted]38	38 7 2	38
(n) [deleted]66
(o) [deleted]65 1 1 2 2 29 5 29 73 29 29 5 56 73 29 29 29 5 5 5 73 29 29 5 73 29 29 29 73 29 29 5	[deleted]65 5 2 5 5 5 1 2 5 1 5 5 5 5 1 5 73 5 73 5 5 2 56	[deleted]65 2 73 29 29 73 29 29 73 2 29
(oa) [deleted]65 29 37 37 37 37 58 56 37 37 37 37 58 37 37	[deleted]65 37	[deleted]65 37 37 37 37
(p) A firm applying for a variation of its Part 4A permission, as referred to in FEES 3 Annex 16R66, whose fee is not payable pursuant to sub- paragraphs 64(zza)52 or (zzh) 64 of this table 26	(1) As specified in FEES 3 Annex 1R-FEES 3 Annex 14R66 (2) Subject to (3) below, if the new business of the firm would fall within more than one pricing category in FEES 3 Annex 1AR, the fee payable is that in the highest pricing category applicable to the application.66 (2A) [deleted]66 (3) [deleted]66 (3A) [deleted]66 (3B) [deleted]66 (3C) If the applicant applies for registration under article 8(1) of the MCD Order at the same time as it applies for a variation of its Part 4A permission, the fee payable is the highest of:66 66(i) the fees set out in FEES 3 Annex 10AR; (ii) the amount payable in accordance with FEES 3 Annex 16R; (3D) [deleted]66 (4) [deleted]66 [deleted]66 30 75 44 41 30 75 75 1 1 1 73 73 37 73 37 75 75 37 1 1 37 37 30 30 23 37 37 37 37 30 37 37 37 30 37 11 11 37 37 30 37 30 75 41 11 73 1 44 44 44	On or before the date the application is made
30(pa) A person who makes an application under section 30(1) of the Consumer Credit Act 1974 which meets the conditions of article 33 (Variations at request of licensee where no determination made before 1 April 2014) of the Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) (No 2) Order 2013 (the “relevant variation application”)	As (a) or 31(p) above, less any amount paid to the Office of Fair Trading in relation to the relevant variation application.	Within 30 days of the date of the invoice.
2(q) [deleted]38 7 7 13 74 13 74 7 7 22 22 7	38	38 3 3 3
2(r) [deleted]46	6 6	5 6 6
(s) [deleted]66 5	72 72 37 59 37 59 72 72 37 72 37	37
6(t) [deleted]46 20
(u) [deleted]34 34	34	34
(v) [deleted]38 22 22	38	38
[deleted]35 35	35	35
(x)[deleted]38	38	38 8
(y) A person who makes an application or notification to the FCA under the Payment Services Regulations, including an application for variation of authorisation or registration.66 8	The fee payable is that in the highest pricing category applicable to the application or notification as set out in FEES 3 Annex 8R66. 47	On or before the date the application is made.
(ya) [deleted]66 47	47	47
(z) [deleted]66 47
(za) [deleted]66 47
(zb) [deleted]66 47	50 50 47 50 50 47 50 47 47 47 47 47 50 50
(zc) [deleted]66 47	47 47 47 47 47 47
(zd) 47	47	[deleted]47
(ze) Any person to which the Special Project Fee for restructuring applies under FEES 3 Annex 9.12 12	Special Project Fee for restructuring in accordance with FEES 3 Annex 9 .	30 days of the date of the invoice.9
(zf) [deleted]73 73	73	9 16 73
(zg) A person who makes an application or notification to the FCA under the Electronic Money Regulations, including an application for variation of authorisation or registration66. 16	The fee payable is that in the highest pricing category applicable to the application or notification as set out in FEES 3 Annex 10R.66	On or before the date the application is made.
(zh) [deleted]66 16
(zi) [deleted]66 16 14
(zj) [deleted]66 16	50 50
(zk) [deleted]66 16
(zl) [deleted]66 15		18
(zm) [deleted]66 18	41 41
(zn) [deleted]66 18	41 41	21
21(zo) In the case of persons in respect of which the FCA has given notice of its intention to take, or appoint a competent person to take, any steps under CONRED 2.5.12R or 4.5.1R69, either: (i) a Firm (as defined in CONRED 2.1.1R(1)) or 4.1.3R69; or (ii) a person falling within CONRED 2.1.2R(1) or 4.1.5R69.	An amount equal to: (1) a sum determined by the number of hours, or part of an hour, taken by the FCA in relation to work conducted in taking steps under CONRED 2.5.12R or 4.5.1R69 recorded on the FCA's systems, multiplied by the rate in FEES 3 Annex 9 (11)R; or (2) any amount invoiced to the FCA by a competent person in relation to any work carried out by that competent person in connection with its appointment by the FCA under CONRED 2.5.12R or 4.5.1R69.	Within 30 days of the date of the invoice.
73(zp) A person in respect of which the FCA 37 has given notice of its intention to itself appoint a skilled person to provide it with a report pursuant to section 166(3)(b) of the Act and SUP 5.2. 37	Any amount invoiced to the FCA 37 by a skilled person in relation to any work carried out by that skilled person in connection with its appointment by the FCA 37 pursuant to section 166(3)(b) of the Act. 37	Within 30 days of the date of the invoice.
73(zq) A person in respect of which the FCA 37 has given notice of its intention to itself appoint a skilled person to collect or update information pursuant to section 166A(2)(b) of the Act. 37	Any amount invoiced to the FCA 37 by a skilled person in relation to any work carried out by that skilled person in connection with its appointment by the FCA 37 pursuant to section 166A(2)(b) of the Act. 37 37	Within 30 days of the date of the invoice.33
33(zr) [deleted]38	38	38
(zs) [deleted]66 30 31	31 30 31 31
(zt) An applicant for registration in the Financial Services Register under article 8(1) of the MCD Order. 75	Unless (1), or (2) applies, the fee as set out in FEES 3 Annex 10A. 75 (1) If the applicant is applying for a Part 4A permission at the same time as it applies for registration under article 8(1) of the MCD Order, the fee payable in row (a), column (2) paragraph (3) of this Table. 75 (2) If the applicant is applying for a variation of a Part 4A permission at the same time as it applies for registration under article 8(1) of the MCD Order, the fee payable in row (p), column 2 paragraph (3)(c) of this Table. 75	On or before the application is made.75
(zu)40 Any person to which the Designated Credit Reference Agencies and Finance Platform42 Fee applies under FEES 3 Annex 10B. 39	Designated Credit Reference Agencies and Finance Platform42 Fee in accordance with FEES 3 Annex 10B.	Within 30 days of the date of the invoice.
43(zv) Any firm that meets the test in FEES 3 Annex 10C(1)R(1) (PPI campaign fees).	The amount set out in FEES 3 Annex 10C(1) R(2).	Within 30 days of the date of the invoice.
(zw) [deleted]66 45 63 63 49 63
(zx) [deleted]66 46	63
(zy) [deleted]66 46 49 56	56 63
(zz) [deleted]66 51
52(zza) An application for authorisation as a regulated benchmark administrator.	The highest of the applicable tariffs set out in FEES 3 Annex 1AR.66 Where an applicant intends to administer benchmarks falling into different complexity groupings, it will pay one fee only, for the highest category applied for. If, once authorised, a regulated benchmark administrator notifies the FCA of its intention to administer other/additional benchmarks no further application fee is payable (even if the other/additional benchmark falls into a higher complexity category).	On the date the application is made.
(zzb) [deleted]66 52
(zzc) [deleted]66 52
54(zzd) applications for claims management companies	The fee applicable to the application as set out in paragraph CMC of Part 2 of FEES 3 Annex 1R.66 Firms which already have Part 4A permissions and are applying to vary their permissions will pay 50% of66 the relevant fee.	On the date the application is made.
(zze) [deleted]66 55
61(zzf) UK-based applicants for registration as a trade repository; a securitisation repository, or a third country applicant seeking recognition as a trade repository.	5,000 Applicants for registration as a trade repository who already hold registration as a securitisation repository, or vice versa, will receive a 50% discount on the relevant application fee. Applicants for registration as a trade repository to carry on activity for the purposes of UK SFTR who already hold registration as a trade repository under EMIR or vice versa, will receive a 50% discount on the relevant application fee.	On the date the application is made.
61(zzg) UK-based applicants for registration as a credit rating agency or a third country applicant seeking certification as a credit rating agency.	The fee set out in FEES 3 Annex 13R.	On the date the application is made.
64(zzh) Permission for (1) carrying on funeral plan distribution; (2) carrying out a funeral plan contract as provider; or (3) carrying out a funeral plan contract as provider and entering as provider into a funeral plan contract.	(1) The highest of the tariffs set out in FEES 3 Annex 1R part 3A which apply to that application, subject to (2) and (3) below. (2) Unless (3) below applies, where an applicant was carrying out any of the activities referred to in (zzh)(1)-(3) on 1 September 2021, and makes an application for permission for any of those activities after 1 November 2021, the application fees shall be: (a) £3,500 for (zzh)(1) or zzh(2); (b) £14,000 for (zzh)(3). (3) If an applicant which already has any of the permissions referred to in (zzh) applies to vary its permission, the application fees shall be: (a) £500 for (zzh)(1); (b) £1,250 for (zzh)(2); and (c) £5,000 for (zzh)(3).	On or before the application is made.
32Part 2: UKLA38 fees
(1) Fee payer	(2) Fee payable	(3) Due date
(a) (i) An issuer which has not made public its annual financial report before the latest time specified in DTR 4.1.3 R. (ii) An issuer which has not made public its half-yearly financial report before the latest time specified in DTR 4.2.2 R (2).	FEES 3 Annex 12R38	Within 30 days of the date of the invoice.
38(b) An applicant for approval as a sponsor.	FEES 3 Annex 12R	On or before the date the application is made.
38(c) For the purposes of48 the listing rules:48 (i)48 an issuer requesting approval of a document arising in relation to a specific event or transaction, which is not a significant transaction or a super transaction; or48 48(ii) an issuer or person applying for eligibility for listing of its securities.	FEES 3 Annex 12R	On or before the date that relevant document is first submitted to the FCA.
38(d) Under the Prospectus Rules or the Prospectus Regulation 60, an issuer or a person requesting approval or review of a document arising in relation to a specific event or transaction, which is not a significant transaction or a super transaction.	FEES 3 Annex 12R	On or before the date that relevant document is first submitted to the FCA.
38(e) An issuer requesting the approval or review of a document in connection with a super transaction.	FEES 3 Annex 12R	On or before the date that relevant document is first submitted to the FCA.
38(f) An issuer requesting the approval or review of a document in connection with a significant transaction.	FEES 3 Annex 12R	On or before the date that relevant document is first submitted to the FCA.
38(g) A person who requests the FCA’s approval of a document that includes a mineral expert’s report and who is a fee payer under one or more of the categories (c), (d), (e), and (f) above must additionally pay a fee under this category.	FEES 3 Annex 12R	On or before the date that relevant document is first submitted to the FCA.
38(h) An applicant for approval as a primary information provider.	FEES 3 Annex 12R	On or before the date the application is made.

[Note:Guidance on how a firm liable to pay a fee under both rows (s) and (ze) of this table for the same transaction should expect to be treated is set out in FEES 3 Annex 11 G.]19

Related provisions for SUP 8.3.5

Search Term(s)

Filter by Topics

Filter by Modules

Filter by Documents

Filter by Keywords

Effective Period

Similar To

Table of application, notification, vetting and other fees payable to the FCA32