Regulatory Alerts2021-04-13
Added · Updated
FCA regulated fees and levies 2021/22
The Financial Conduct Authority sets the final 2021/22 Annual Funding Requirement at £613.7m, a 4.0% increase from the previous year, and publishes the corresponding periodic fees and levies for authorized firms, the Financial Ombudsman Service, Money and Pensions Service, Devolved Authorities, and illegal money lending. The Authority reduces the fee for introducer appointed representatives to £75 and lowers the recovery amount for appointed representative work from £10m to £7.2m following stakeholder feedback. Additionally, the document implements proposals to avoid double payment of fees by UK data reporting service providers and reclassifies peer-to-peer lending application fees from moderately complex to complex. Invoicing for these fees and levies commences from July 2021.