FEES 3
Application, Notification and Vetting Fees
FEES 3.1
Introduction
- 01/01/2006
Application
FEES 3.1.1
See Notes
- 01/01/2006
FEES 3.1.1A
See Notes
- 01/05/2009
FEES 3.1.2
See Notes
- 01/01/2006
Purpose
FEES 3.1.3
See Notes
- 01/01/2006
FEES 3.1.4
See Notes
- 01/01/2006
FEES 3.1.5
See Notes
- (1) The rates set for authorisation fees represent an appropriate proportion of the costs of the FSA in processing the application or exercise of Treaty rights.
- (2) The fees for collective investment schemes reflect the estimated costs to the FSA of assessing applications and notifications. The level of fees payable in respect of an application or a notification will vary depending upon the provision of the Act under which it is made. This fee is adjusted when the scheme concerned is an umbrella.
- (3) Application fees for recognised bodies are calculated from a tariff structure intended to reflect the estimated cost of processing an application of that type and complexity.
- 01/04/2009
FEES 3.1.6
See Notes
- 01/01/2006
FEES 3.1.6A
See Notes
- 01/05/2009
FEES 3.1.7
See Notes
- 06/10/2007
FEES 3.1.8
See Notes
- 06/10/2007
FEES 3.2
Obligation to pay fees
- 01/01/2006
General
FEES 3.2.1
See Notes
A person in column (1) of the table in FEES 3.2.7 R as the relevant fee payer for a particular activity must pay to the FSA a fee for each application or request for vetting, or request for support relating to compatibility of its systems with FSA systems, or admission approval made, or notification or notice of exercise of a Treaty right given, or other matter as is applicable to it, as set out or calculated in accordance with the provisions referred to in column (2) of that table:
- (1) in full and without deduction; and
- (2) on or before the date given in column (3) of that table.
- 01/06/2009
FEES 3.2.2
See Notes
- 01/01/2006
Method of payment
FEES 3.2.3
See Notes
- (1) Unless (2) applies, the sum payable under FEES 3.2.1 R must be paid by bankers draft, cheque or other payable order.
- (2) FSA does not specify a method of payment for a person seeking to become a recognised body or a designated professional body or to be added to the list of designated investment exchanges.
- 01/01/2006
FEES 3.2.4
See Notes
- 01/01/2006
FEES 3.2.5
See Notes
- (1) The appropriate authorisation or registration fee is an integral part of an application for, or an application for a variation of, a Part IV permission or authorisation, registration or variation under the Payment Services Regulations. Any application received by the FSA without the accompanying appropriate fee, in full and without deduction (see FEES 3.2.1 R), will not be treated as an application made, incomplete or otherwise, in accordance with section 51(3)(a) or section 44, of the Act or regulation 5(3) or 12(3) of the Payment Services Regulations. Where this is the case, the FSA will contact the applicant to point out that the application cannot be progressed until the appropriate fee has been received. In the event that the appropriate authorisation fee, in full and without deduction, is not forthcoming, the application will be returned to the applicant and no application will have been made.
- (2) With the exception of persons seeking to become a designated professional body, all applications, notifications, requests for vetting or admission approval will be treated as incomplete until the relevant fee is fully paid and the FSA will not consider an application, notification, request for vetting or admission approval until the relevant fee is fully paid. Persons seeking to become a designated professional body have 30 days after the designation order is made to pay the relevant fee.
- 01/05/2009
FEES 3.2.6
See Notes
- 01/01/2006
FEES 3.2.7
See Notes
Table of application, notification and vetting fees
(1) Fee payer | (2) Fee payable | Due date | |||||
(a) | Any applicant for Part IV permission (including an incoming firm applying for top-up permission) | (1) | Unless (2) applies, in respect of a particular application, the highest of the tariffs set out in FEES 3 Annex 1 part 1 which apply to that application. | On or before the application is made | |||
(2) | In respect of a particular application which is: | ||||||
(i) | a straightforward or moderately complex case for the purposes of FEES 3 Annex 1 part 1, and | ||||||
(ii) | only involves a simple change of legal status as set out in FEES 3 Annex 1 part 6, | ||||||
the fee payable is 50% of the tariff that would otherwise be payable in FEES 3 Annex 1 part 1 | |||||||
(b) | Any Treaty firm that wishes to exercise a Treaty right to qualify for authorisation under Schedule 4 to the Act (Treaty rights) in respect of regulated activities for which it does not have an EEA right, except for a firm providing cross border services only | (1) | Where no certificate has been issued under paragraph 3(4) of Schedule 4 to the Act the fee payable is, in respect of a particular exercise, set out in FEES 3 Annex 1, part 4 | On or before the notice of exercise is given | |||
(2) | Where a certificate in (i) has been issued no fee is payable | ||||||
(c) | Any applicant for a certificate under article 54 of the Regulated Activities Order | 2,000 | On or before the application is made | ||||
(d) | Applicants for an authorisation order for, or recognition of, a collective investment scheme | FEES 3 Annex 2, part 1 | On or before the application is made | ||||
(e) | The operator of a scheme making a notification under section 264 or section 270 of the Act | FEES 3 Annex 2, part 2 | On or before the date the application is made | ||||
(f) | Any person seeking an order under section 326(1) of the Act to become a designated professional body. | 10,000 | 30 days after the order is granted | ||||
(g) | Any applicant for recognition as a UK recognised body under section 287 or section 288 of the Act | FEES 3 Annex 3, part 1 | On or before the date the application is made | ||||
(h) | Any applicant for recognition as an overseas recognised body under section 287 or section 288 and section 292 of the Act | FEES 3 Annex 3, part 2 | On or before the date the application is made | ||||
(i) | An applicant for listing (under the listing rules) | FEES 3 Annex 4, part 1 | On or before the date the application is made | ||||
(j) | Applicant for approval as sponsor (under the listing rules) | FEES 3 Annex 4, part 2 | On or before the date the application is made | ||||
(k) | Issuers of tranches from debt issuance programmes and securitised derivative tranches | FEES 3 Annex 4, part 1 | An upfront fee is required per tranche for draw downs in the following 12 months | ||||
(l) | Under the listing rules, an issuer involved in specific events or transactions during the year where documentation is subject to a transaction vetting | FEES 3 Annex 5, part 1, unless the transaction would come within the definition of significant transaction under category (v) or super transaction under category (q) in this table, in which case the fee payable under that category. | On or before the date that relevant documentation is first submitted to the FSA | ||||
(m) | Under the prospectus rules, an issuer or person requesting approval or vetting of the documents arising in relation to specific events or transactions that it might be involved in during the year | FEES 3 Annex 5, part 2, unless the transaction would come within the definition of significant transaction under category (v) or super transaction under category (q) in this table, in which case the fee payable under that category. | On or before the date that relevant documentation is first submitted to the FSA | ||||
(n) | Applicants to be added to the list of designated investment exchanges | 50,000 | On or before the date the application is made | ||||
(o) | Either: | (1) | Unless (2) applies, FEES 3 Annex 6. | Where the firm has made an application directly to the FSA, on or before the date the application is made, otherwise within 30 days after the FSA notifies the firm that its EEA parent's Home State regulator has requested the FSA's assistance. | |||
(i) | a firm applying to the FSA for permission to use one of the advanced prudential calculation approaches listed in FEES 3 Annex 6 R (or guidance on its availability), including any future proposed amendments to those approaches or (in the case of any application being made for such permission to the FSA as EEA consolidated supervisor under the) any firm making such an application; or | (2) | (a) | Unless (b) applies a firm submitting a second application for the permission or guidance described in column (1) within 12 months of the first application (where the fee was paid in accordance with (1)) must pay 50% of the fee applicable to it under FEES 3 Annex 6, but only in respect of that second application | |||
(ii) | in the case of an application to a Home State regulator other than the FSA for the use of the Internal Ratings Based approach and the Home State regulator requesting the FSA's assistance in accordance with the Capital Requirements Regulations 2006, any firm to which the FSA would have to apply any decision to permit the use of that approach. | (b) | No fee is payable by a firm in relation to a successful application for a permission based on a minded to grant decision in respect of the same matter following a complete application for guidance in accordance with prescribed submission requirements. | ||||
(c) | No fee is payable where the Home State regulator has requested the assistance of the FSA as described in paragraph (o)(ii) of column 1 except in the cases specified in FEES 3 Annex 6. | ||||||
(p) | A firm applying for a variation of its Part IV permission | (1) | Unless (2) applies, if the proposed new business of the firm would fall within one or more activity groups specified in Part 1 of FEES 4 Annex 1 not applicable before the application, the fee is 50% of the highest of the tariffs set out in FEES 3 Annex 1 which apply to that application | On or before the date the application is made | |||
(2) | If the only change is that the A.12 activity group tariff applied to the firm's business before the variation and the A.13 activity group will apply after variation, no fee is payable | ||||||
(3) | In all other cases, other than applications by credit unions, the fee payable is 250, unless the variation involves only the reduction (and no other increases) in the scope of a Part IV permission in which case no fee is payable. | ||||||
(q) | A supertransaction, being one where: | 50,000 | On or before the date that the relevant documentation is first submitted to the FSA. | ||||
(i) | the issuer has a market capitalisation in excess of 1.5 billion and it is a new applicant for a primary listing under the listing rules, or involved in a reverse or hostile takeover or a significant restructuring; or | ||||||
(ii) | the issuer has a market capitalisation in excess of 5 billion and is involved in a class 1 transaction, a transaction requiring vetting of an equity prospectus or equivalent document or a transaction requiring vetting of a prospectus in relation to a Depositary Receipt. | ||||||
(r) | Providers of reporting or trade matching systems applying for recognition under MiFID as an Approved Reporting Mechanism. | 100,000 | Having received its application, within 30 days after the FSA has notified the applicant that it is to commence testing of the applicants systems. | ||||
(s) | In the case of an insurance business transfer scheme, a transferor. Note - for the purpose of this paragraph an insurance business transfer scheme consists of a single transferor and a single transferee. Where however such a scheme is part of a single larger scheme, that larger scheme is treated as a single insurance business transfer scheme. If an insurance business transfer scheme includes more than one transferor in accordance with this paragraph, the transferors are liable to pay the fee under column (2) jointly. |
Either (1) or (2) as set out below: | On or before any application is made to the FSA for the appointment of a person as an independent expert. | ||||
(1) | In the case of an insurance business transfer scheme involving long term insurance business, 18,500; or | ||||||
(2) | in the case of an insurance business transfer scheme not involving long term insurance business, 10,000. | ||||||
(t) | A firm, a third party acting on a firm's behalf, an operator of a regulated market or an operator of an MTF applying to the FSA to report transaction reports directly to the FSA other than through the FSA's Transaction Reporting System (see FEES 4.2.11 R and FEES 4 Annex 3 for the fees payable for firms using the FSA's Transaction Reporting System). | 100,000 | Having received its application, within 30 days after the FSA has notified the applicant that it is to commence testing of the applicants systems. | ||||
(u) | Any of the following: | As set out in FEES 3 Annex 7. | Within 30 days of the date of the invoice. | ||||
(i) | an operator of an approved reporting mechanism; | ||||||
(ii) | a firm; | ||||||
(iii) | a third party acting on behalf of a firm; | ||||||
(iv) | a market operator; or | ||||||
(v) | an MTF operator; | ||||||
that satisfies the following conditions: | |||||||
(1) | it provides transaction reports directly to the FSA; and | ||||||
(2) | having made changes to its reporting systems, it asks the FSA to support the testing of the compatibility of its systems with the FSA's systems. | ||||||
(v) | A significant transaction, being one where: |
20,000 | On or before the date that the relevant documentation is first submitted to the FSA. | ||||
(i) | the issuer has a market capitalisation in excess of 500 million and is producing an equity prospectus, a prospectus in relation to a Depository Receipt or a document in relation to a class 1 transaction; or | ||||||
(ii) | the issuer is producing a document for vetting in relation to a reverse takeover, a hostile takeover or a significant restructuring. | ||||||
A significant transaction does not include a super transaction. | |||||||
(w) | A listed issuer that requests or whose representative requests the FSA to amend the Official List, or any records held by the FSA in relation to the Official List, otherwise than pursuant to an application for listing. | FEES 3 Annex 4 part 3 | On or before the date the request is made. | ||||
(x) | (i) | An issuer or person who: | 5,000 | On or before the date the relevant documentation is first submitted to the FSA. | |||
(1) | is a fee payer under one or more of the categories set out in (ii); and | ||||||
(2) | requests the FSA's approval or vetting of a document that includes a mineral expert's report. | ||||||
(ii) | The categories are (1), (m) (q), and (v) of this table. | ||||||
(iii) | A fee under this category is payable in addition to any fee payable under the categories set out in (ii). | ||||||
(y) | An applicant for authorisation as an authorised payment institution under regulation 5 of the Payment Services Regulations | The highest of the tariffs set out in FEES 3 Annex 8 which apply to that application. Where an application only involves a simple change of legal status as set out in FEES 3 Annex 1 Part 6, the fee payable is 50% of the tariff that would otherwise be payable in FEES 3 Annex 8R |
On or before the date the application is made. | ||||
(z) | An application by a small payment institution for authorisation as an authorised payment institution because regulation 15 of the Payment Services Regulations applies | The highest of the tariffs set out in FEES 3 Annex 8R which apply to that application. | On or before the date the application is made. | ||||
(za) | An applicant for registration as a small payment institution under regulation 12 of the Payment Services Regulations | FEES 3 Annex 8R, paragraph (1). Where an application only involves a simple change of legal status as set out in FEES 3 Annex 1 R Part 6, the fee payable is 50% of the tariff that would otherwise be payable in FEES 3 Annex 8R. | On or before the date the application is made. | ||||
(zb) | An authorised payment institution applying to vary its authorisation under regulation 8 of the Payment Services Regulations. | (1) | If the payment services carried on by the authorised payment institution prior to the variation only fall within paragraph (f) or (g) of Part 1 of Schedule 1 to the Payment Services Regulations and any of the payment services in paragraphs (a) to (e) of that Schedule will apply after variation, the fee is 50% of the highest of the tariffs set out in FEES 3 Annex 8R which apply to that application. | On or before the date the application is made. | |||
(2) | Where the authorised payment institution: | ||||||
(i) | already has authorisation to provide payment services within any one or more of paragraphs (a) to (e) of Part 1 of Schedule 1 to the Payment Services Regulations and wishes to add one or more other services in (a) to (g); or | ||||||
(ii) | has authorisation to provide payment services in either paragraph (f) or (g) of Part 1 of Schedule 1 to the Payment Services Regulations and wishes to extend its authorisation to include the other paragraph ((f) or (g)); | ||||||
the fee payable is 250 irrespective of the number of agents it has. | |||||||
(3) | In cases where the variation involves only the reduction (and no increases) of the types of payment services to be carried on after the variation, no fee is payable. | ||||||
(zc) | A small payment institution applying to vary its registration under regulation 12 of the Payment Services Regulations | (1) | If the payment services carried on by the small payment institution prior to the variation only fall within paragraph (f) or (g) of Part 1 of Schedule 1 to the Payment Services Regulations and any of the payment services in paragraphs (a) to (e) of that Schedule will apply after variation, the fee is 50% of the highest of the tariffs set out in FEES 3 Annex 8R which apply to that application. | On or before the date the application is made. | |||
(2) | Where the small payment institution: | ||||||
(i) | is already registered to provide payment services within any one or more of paragraphs (a) to (e) of Part 1 of Schedule 1 to the Payment Services Regulations and wishes to add one or more other of the services in (a) to (g); or | ||||||
(ii) | is registered to provide payment services in either paragraph (f) or (g) of Part 1 of Schedule 1 to the Payment Services Regulations and wishes to extend its registration to include the other paragraph ((f) or (g)); | ||||||
the fee payable is 250 irrespective of the number of agents it has. | |||||||
(3) | In cases where the variation involves only the reduction (and no increases) of the types of payment services to be carried on after the variation, no fee is payable. | ||||||
(zd) | A financial institution notifying the FSA in accordance with regulation 121(2)(a) of the Payment Services Regulations. | 50% of the highest of the tariffs set out in FEES 3Annex 8R, paragraphs (2) to (5) which apply to that application. | On or before the date the application is made. | ||||
(ze) | Any firm in any one or more of the A fee-blocks defined in FEES 4 Annex 1 Part 1, except fee-block A.16. | Special Project Fee for restructuring in accordance with FEES 3 Annex 9. | 30 days of the date of the invoice. | ||||
(zf) | An applicant for a ceding insurer's waiver. | 20,000 | On or before the date the application is made. |
- 01/06/2009
FEES 3 Annex 1
Authorisation fees payable
- 01/01/2006
See Notes
Application type (see Part 2) | Amount payable | |
(a) | Credit unions - registration of common bond | 200 |
(b) | Version 1 credit unions - authorisation | 300 |
(c) | Version 2 credit unions - authorisation | 1,800 |
(d) | Straightforward | 1,500 (unless otherwise specified in Part 2) |
(e) | Moderately complex | 5,000 (unless otherwise specified in Part 2) |
(f) | Complex | 25,000 |
Straightforward cases | |
Activity grouping | Description |
A.3 | Friendly societies only |
A.4 | Friendly societies only |
A.12 | Advisory arrangers, dealers or brokers (holding or controlling client money and/or assets) |
A.13 | Advisory only firms and advisory arrangers, dealers or brokers (not holding or controlling client money and/or assets) |
A.14 | Corporate finance advisers |
A.18 | Home finance providers, advisers and arrangers (excluding home finance providers). In the case of applicants for interim RSRB permission within this activity group the specified amount payable is 1,000. In the case of applicants for full RSRB permission within this activity group the specified amount payable is 500. |
A.19 | General insurance mediation |
Moderately complex cases | |
Activity grouping | Description |
A.1 | E-money issuers only |
A.2 | Home finance providers and administrators. In the case of applicants for interim RSRB permission within this activity group the specified amount payable is 3,000.In the case of applicants for full RSRB permission within this activity group the specified amount payable is 2,000. |
A.3 | UK ISPVs |
[deleted] | [deleted] |
A.5 | Managing agents at Lloyd's |
A.7 | Fund managers |
A.9 | Operators, trustees and depositaries of, operators of personal pension schemes and operators of stakeholder pension schemes |
A.10 | Firms dealing as principal |
B. | Service companies |
Complex cases | |
Activity grouping | Description |
A.1 | Deposit acceptors (excluding e-money issuers and credit unions) |
A.3 | Insurers - general (excluding friendly societies and UK ISPVs) |
A.4 | Insurers - life (excluding friendly societies) |
B | MTF operators |
If the Treaty firm wishes to undertake the permitted activities in question through its branch in the United Kingdom, the fee is 50% of the fee that would be payable under FEES 3.2.7 R for an applicant for Part IV permission. |
If the Treaty firm wishes to undertake the permitted activities in question by providing services in the United Kingdom, the fee is 25% of the fee which would be payable under FEES 3.2.7 R for an applicant for Part IV permission. |
The activity group definitions are set out in FEES 4 Annex 1R. |
An application involving only a simple change of legal status for the purposes of FEES 3.2.7 R, FEES 3.2.7R (y) and FEES 3.2.7R (za) is from an applicant: | ||
(1) | which is a new legal entity intending to carry on the business, using the same business plan, of an existing firm with no outstanding regulatory obligations cancelling its Part IV permission, authorisation or registration under the Payment Services Regulations and | |
(2) | which is to: | |
(a) | have the same or narrower permission, scope of authorisation or registration under the Payment Services Regulations and the same branches (if any), as the firm; | |
(b) | assume all of the rights and obligations in connection with the regulated activities and payment services carried on by the firm; | |
(c) | continue the same compliance arrangements and compliant client asset and client money procedures, as the firm, subject to any changes required only as a result of the change of legal status; | |
(d) | continue with a risk profile and arrangements for controlling and monitoring risk which will not be materially different from those of the firm; and | |
(e) | have the individuals within the firm that are responsible for insurance mediation activity perform the same role for the applicant. |
- 01/07/2009
FEES 3 Annex 2
Application and notification fees payable in relation to collective investment schemes
- 01/01/2006
See Notes
Legislative provision | Nature and purpose of fee | Payable by | Amount of fee | Umbrella factor (note 1) |
Part 1 [deleted] | ||||
[deleted] | [deleted] | [deleted] | [deleted] | [deleted] |
[deleted] | [deleted] | [deleted] | [deleted] | [deleted] |
[deleted] | [deleted] | [deleted] | [deleted] | [deleted] |
Part 2 Application fees payable for firms to be subject to COLL | ||||
Regulation 12 of the OEIC Regulations | On application for an order declaring a scheme to be an ICVC, where the scheme is: | An applicant | 2 | |
UCITS scheme | 1,200 | |||
Non-UCITS retail scheme | 1,500 | |||
Qualified investor scheme | 2,400 | |||
Section 242 of the Act | On application for an order declaring a scheme to be an AUT, where the scheme is: | An applicant | 2 | |
UCITS scheme | 1,200 | |||
Non-UCITS retail scheme | 1,500 | |||
Qualified investor scheme | 2,400 | |||
Section 272 of the Act | On application for an order declaring a scheme to be an individually recognised overseas scheme | An applicant | 14,000 | 2 |
Part 3 (notifications) | ||||
Section 264 of the Act | On giving notice under section 264 of the Act | The operator | 600 | 2 |
Section 270 of the Act | On giving notice under section 270 of the Act | The operator | 600 | 2 |
Part 4 (Alternative Investment Funds: fees payable for making a notification to the FCA to market an AIF) |
Notes: | |
1. | For an umbrella the fee is multiplied by the factor shown in the final column of the table. |
- 01/04/2009
FEES 3 Annex 3
Application fees payable in connection with Recognised Investment Exchanges and Recognised Clearing Houses
- 01/01/2006
See Notes
Description of applicant | Amount payable | Due date | |
Part 1 (UK recognised bodies) | |||
Applicant for recognition as a UK RIE | 100,000 | Date the application is made | |
Applicant for recognition as a UK RCH | 100,000 | Date the application is made | |
Additional fees for applicant who proposes to: | |||
- | act as a central counterparty | 25,000 | Date the application is made |
- | offer safeguarding and administration services | 25,000 | Date the application is made |
- | use substantially new and untested information technology systems in the performance of its relevant functions | 25,000 | Date the application is made |
Part 2 (overseas recognised bodies) | |||
Applicant for recognition as a recognised overseas investment exchange | 50,000 | Date the application is made | |
Applicant for recognition as a recognised overseas clearing house | 50,000 | Date the application is made | |
Additional fees for applicant who proposes to: | |||
- | act as a central counterparty | 25,000 | Date the application is made |
- | offer safeguarding and administration services | 25,000 | Date the application is made |
- 01/01/2006
FEES 3 Annex 4
Application and administration fees in relation to listing rules
- 01/04/2009
See Notes
Fee type | Fee amount |
Application Fees | |
Application for listing | 225 plus 100 per each additional issue of securities with its own International Securities Identification Number unless the fee in Categories 6 or 8 of FEES 3 Annex 5 Part 2 applies. |
Sponsor Application Fees | |
Fee type | Fee amount |
Application for approval as sponsor | 15,000 |
Fee type | Fee amount |
Administration fee where the FSA makes amendments to the Official List, or any records held by the FSA in relation to the Official List, as a result of a request made by a listed issuer or its representative. | 225 plus, if the request relates to more than one issue of securities, 100 per each additional issue of securities (with its own International Securities Identification Number). |
- 01/04/2009
FEES 3 Annex 5
Document vetting and approval fees in relation to listing and prospectus rules
- 01/01/2006
See Notes
Part 1
Fee type | Fee amount | |
Transaction vetting fees Transaction vetting fees relate to specific events or transactions that an issuer might be involved in during the year. |
||
Eligibility | New applicants | 1,430 |
Category 1 | Class 1 transactions Listing particulars for Depositary Receipts |
6,270 |
Category 2 | Listing particulars for issuers of specialist securities | 2,750 |
Category 3 | All other vetting only transactions | 2,750 |
Category 4 | Supplementary listing particulars | 550 |
Part 2
These fees relate to approval or vetting of the documents referred to in the second column of this table arising in relation to specific events or transactions that an issuer, offeror or person requesting admission might be involved in during the year.
Category 1 | Equity prospectus Equivalent document referred to in PR 1.2.2R(2) or (3) or PR 1.2.3R(3) or (4) Depositary Receipt prospectus |
6,270 |
Category 2 | Equity registration document | 4,400 |
Category 3 | Equity securities note and summary Summary document referred to in PR 1.2.3R(8) |
2,750 |
Category 4 | Non-equity prospectus or base prospectus (excluding drawdown prospectus or base prospectus) Equivalent document referred to in PR 1.2.2R(2) or (3) or PR 1.2.3R(3) or (4) |
2,750 |
Category 5 | Non-equity registration document | 1,925 |
Category 6 | Non-equity securities note and summary Summary document referred to in PR 1.2.3R(8) |
660 |
Category 7 | Supplementary prospectus and any details produced in a document in relation to LR 16.3.6 R. | 550 |
Category 8 | Drawdown prospectus or base prospectus | 660 |
Where a fee in category 6 or 8 of this fee schedule is payable, the listing application fee under FEES 3 Annex 4 Part 1 does not apply.
Fees from other fee schedules contained in other sections of the sourcebook may be applicable to a single submission.
Certain transactions may come within the category of super or significant transactions and thus attract a higher fee, as set out in FEES 3.2.7 R(q) and FEES 3.2.7 R(v).
- 01/04/2009
FEES 3 Annex 6
Fees payable for a permission or guidance on its availability in connection with the Basel Capital Accord
- 01/06/2008
See Notes
(1) | Paragraphs (2) and (3) deal with an application made to the FSA rather than a request for assistance under the Capital Requirements Regulations 2006. | |
(2) | For firms falling into a group (Group 1) in which there are five or more significant overseas entities to which the application relates and the application is for permission to use one of the advanced prudential calculation approaches listed in Tables 1 or 2 or guidance on the availability of such a permission the fees in Table 1 are applicable. | |
(3) | For all other firms the fees in Table 2 are applicable. | |
(4) | ||
(4) | Where a request for assistance regarding an Advanced or Foundation IRB application under the Capital Requirements Regulations 2006 has been made to the FSA as detailed in FEES 3.2.7 R (o), the fees in Table 1 and Table 2 are applicable if any firm referred to in FEES 3.2.7 R (o)(ii) meets the following conditions: | |
(i) | it is a UK domestic firm and has permission to accept deposits; and | |
(ii) | the firm does not fall within Group 4 as defined in Table 2. | |
(5) | If however the application or request is in relation to the use of the advanced IRB approach and the FSA (in the case of (2) or (3)) or the relevant Home State regulator (in the case of (4)) has already granted permission for the use of the foundation IRB approach at the time of the application then Table 3 applies. |
Table 1 |
Application group | Description of group | Application fee 2008/09 | ||
Advanced IRB ('000) | Foundation IRB ('000) | AMA ('000) | ||
Group 1 | Five or more significant overseas entities as described in more detail in the definition of Group 1 in the introduction to Part 1 of this Annex | 268 | 232 | 181 |
Table 2 |
Application group | Description of group | Application fee 2008/09 | |||
Modified eligible liabilities (m) | Number of traders as at 31 December 2007 | Advanced IRB ('000) | Foundation IRB ('000) | AMA ('000) | |
Group 2 | >40,000 | >200 | 232 | 198 | 146 |
Group 3 | >5,000 - 40,000 | 26 - 200 | 94 | 72 | 51 |
Group 4 | 0 - 5,000 | 0 - 25 | 42 | 30 | 24 |
(1) | [Deleted] |
(2) | For the purposes of Table 2, a firm's A.1 or A10 tariff data for the relevant period will be used to provide the value of modified eligible liabilities or number of traders. |
Table 3 (Advanced IRB approach where the FSA or Home State regulator has already given permission to use the foundation IRB approach) | |
Application group | Advanced IRB Application fee 2008/09 () |
Group 1 | 67,000 |
Group 2 | 58,000 |
Group 3 | 23,500 |
Group 4 | 10,500 |
The four application groups have the same meaning as they do in Tables 1 and 2. |
Fees payable in relation to the counterparty credit risk internal model method.
54,000
- 01/06/2008
FEES 3 Annex 7
Fees where changes are made to firms transaction reporting systems and the FSA is asked to check that these systems remain compatible with FSA systems
- 01/04/2009
See Notes
Hourly rate (£) | Method of calculating fee | |
68.09 | The fee is calculated as follows: | |
(1) | Determine the number of hours, or part of an hour, taken by the FSA (or any person acting on behalf of the FSA) to test the fee payers transaction reporting systems for compatibility with the relevant FSA systems. | |
(2) | Then multiply the figure in the first column by the number of hours or part hours obtained under (1). The resulting figure is the fee. | |
(3) | The number of hours or part hours referred to in (1) shall be the number of hours or part hours as recorded on the FSA's systems. |
- 01/04/2009
FEES 3 Annex 8
Fees payable for authorisation as an authorised payment institution or registration as a small payment institution in accordance with the Payment Services Regulations
- 01/05/2009
See Notes
Application type for authorisation or registration under Part 2 of the Payment Services Regulations | Amount payable | ||
(1) | small payment institution | 500 | |
(2) | authorised payment institution - where the applicant is applying for authorisation to provide payment services in paragraph(s) (f) (money remittance) and/or (g) (consent given by electronic device) of Part 1 of Schedule 1 to the Payment Services Regulations | 1,500 | |
authorised payment institution - where the applicant is applying for authorisation to provide payment services in any one or more of paragraph(s): | 5,000 | ||
(a) | (cash placed on payment account); | ||
(b) | (cash withdrawals enabled); | ||
(c) | (execution of direct debts, etc); | ||
(d) | (execution of direct debits, etc where credit line available); | ||
(e) | (issuing payments and transactions) | ||
of Part 1 of Schedule 1 to the Payment Services Regulations. | |||
(4) authorised payment institution - where the applicant has or intends to have between 2,500 and 5,000 agents | 12,500 | ||
(5) authorised payment institution - where the applicant has or intends to have more than 5,000 agents | 25,000 |
- 01/05/2009
FEES 3 Annex 9
Special Project Fee for restructuring
- 01/06/2009
See Notes
(1) | The Special Project Fee for restructuring (the SPFR) is payable by a firm if: | |
(a) | it falls within any of the A fee-blocks defined in Part 1 of FEES 4 Annex 1, except if it is in fee-block A.16 only; | |
(b) | it engages in, or prepares to engage in, the activity set out in (2); and | |
(c) | none of the circumstances in (3) apply. | |
(2) | The activity referred to in (1)(b) involves the firm undertaking or making arrangements with a view to either: | |
(a) | raising additional capital; or | |
(b) | a significant restructuring of the firm or the group to which it belongs, including: | |
(i) mergers or acquisitions; | ||
(ii) reorganising the firm's group structure; and | ||
(iii) reattribution. | ||
(3) | No SPFR is payable where: | |
(a) | the amount calculated in accordance with (6) totals less than 50,000; or | |
(b) | the FSA has given any guidance to the firm in relation to the same matter and charged for it; or | |
(c) | the transaction only involves the firm seeking to raise capital within the group to which it belongs. | |
(4) | Where the transaction involves raising capital outside the group to which the firm belongs, any SPFR in relation to that transaction is only payable by the largest firm in that group. The largest firm is the one that pays the highest periodic fee in the FSA financial year (the 12 months ending 31 March) in which the bill is raised. | |
(5) | The definition of group is limited for the purposes of calculating the SPFR to parent undertakings and their subsidiary undertakings. | |
(6) | The SPFR is calculated as follows: | |
(a) | Determine the number of hours, or part of an hour, taken by the FSA in relation to regulatory work conducted as a consequence of the activities referred to in (2). | |
(b) | Next, multiply the applicable rate in the table at (8) by the number of hours or part hours obtained under (a). | |
(c) | Then add any fees and disbursements invoiced to the FSA by any person in respect of services performed by that person for the FSA in relation to assisting the FSA in performing the regulatory work referred to in (a). | |
(d) | The resulting figure is the fee. | |
(e) | The number of hours or part hours referred to in (a) are the number of hours or part hours as recorded on the FSA's systems in relation to the regulatory work referred to in (a). | |
(7) | The first column in the table at (8) sets out the relevant pay grades of those employed by the FSA and the second column sets out the hourly rates chargeable in respect of those pay grades. | |
(8) | Table of hourly rates: | |
FSA pay grade | Hourly rate () | |
Administrator | 25 | |
Associate | 50 | |
Technical Specialist | 85 | |
Manager | 90 | |
Any other person employed by the FSA | 135 |
- 01/06/2009