Regulatory Alerts2025-01-25
Proposed Supervisory Levies 2026
The Non-Bank Financial Institutions Regulatory Authority proposes a structured schedule of supervisory levies for twenty-one categories of non-bank financial institutions. The framework combines fixed annual fees with percentage-based charges calculated on key metrics such as managed investment values, insurance revenue, and total loan book amounts. Applicable rates range from fixed charges of P332 per retirement fund member to percentage levies of up to 0.774 percent on micro lender loan books, ensuring cost recovery aligned with institutional size and activity.
1 NON – BANK FINANCIAL INSTITUTIONS REGULATORY AUTHORITY ACT (PROPOSED SUPERVISORY LEVIES AND LICENSING FEES PROPOSAL 2025) SUPERVISORY LEVIES Non – Bank Financial Institution (NBFI) Supervisory Levies
- Asset Managers (excluding International Financial services Centre Asset Managers) P40,452 and 0.0254% per annum of the total values of investments managed by an Asset Manager at the end of each month of the financial year.
- Central Securities Depositories P220,610
- Securities Exchanges P220,610
- Custodians of Collective Investment undertakings P80,897
- Insurance Brokers P16,185 and 0.1935% of the Insurance Revenue as reported in their most recently audited financial statements.
- Insurance Companies P80,897 and 0.1935% of the Insurance revenue, as reported in their most recently audited financial statements.
- Corporate Insurance Agents P7,722
- International Financial Services Centre companies P44,491
- Management Companies of Collective Investment Undertaking P40,452 and 0.0254% per annum of the total values of investments managed by an Asset Manager at the end of each month of the financial year. 10.Micro lenders a) Average loan book values above P1,000,000 b) Average loan book values up to P1,000,000 0.774% per annum of a micro lenders total loan book at the end of each month at the financial year. P7,737 per annum 11.Transfer Agents/ Transfer Secretaries. P13,340 12.Trustees of Collective Investment Undertakings P80,897
2 Non – Bank Financial Institution (NBFI) Supervisory Levies 13.Central Counter Party P242,672 14.Pawnshops a) Average loan book values above P1,000,000 b) Average loan book values up to P1,000,000 0.774% per annum of a micro lenders total loan book at the end of each month at the financial year. P7,737 per annum 15.Retirement Funds P332 and P21 in respect of each member at the end of each financial year 16.Participants / Market Maker P36,777 17.Security Brokers / Dealers P73,541 18.Medical Aid Funds P7,905 and P21 in respect of each member at the end of each financial year. 19.Finance & Leasing Companies a) Average loan book values above P1,000,000 b) Average loan book values up to P1,000,000 0.774% per annum of a micro lenders total loan book at the end of each month at the financial year. P7,737 per annum 20.Retirement Fund Administrator P8,896 and P734 per fund 21.Investment Advisors P10,017 per annum