Regulatory Alerts2013-03-25
Added · Updated
FCA Policy Statement PS13/7: Interim Permission Fees for Consumer Credit
The Financial Conduct Authority issued Policy Statement PS13/7 to establish interim permission fees for firms transferring from the Office of Fair Trading to the FCA regime for consumer credit. The document sets fees at £150 for sole traders and £350 for other firms, with a 30% discount for registrations completed by 30 November 2013. It also confirms that credit unions and non-commercial debt counselling bodies are exempt from these fees, while clarifying that FSMA-authorized firms must apply for interim permission rather than being automatically transferred.