FCA regulated fees and levies 2022/23

FCA regulated fees and levies 2022/23:
with feedback on CP22/07 and ‘made rules’ Policy Statement PS22/7 June 2022

PS22/7 Financial Conduct Authority
FCA regulated fees and levies 2022/23: with feedback on CP22/07 and ‘made rules’ Moving around this document Use your browser’s bookmarks and tools to navigate. To search on a PC use Ctrl+F or Command+F on MACs. This relates to Consultation Paper CP22/07 published in April 2022. Please send any comments or queries to:
David Cheesman
Financial Conduct Authority
12 Endeavour Square
London E20 1JN
Telephone:
0207 066 5406
Email:
david.cheesman@fca.org.uk
Sign up for our news and publications alerts See all our latest press releases, consultations and speeches. Contents 1 Summary 3 2 FCA periodic fees for authorised firms 8 3 FCA periodic fees for other bodies 16 4 FCA application fees 19 5 Applying financial penalties 20 6 Financial Ombudsman Service general levy 22 7 Money and Pensions Service levies 25 8 Devolved authorities levy 28 9 Illegal money lending levy 29
Annex 1
List of non-confidential respondents 30
Annex 2
FCA financial penalty scheme 31
Annex 3
Abbreviations used in this paper 33
Appendix 1
Handbook text

PS22/7
Chapter 1
Financial Conduct Authority
FCA regulated fees and levies 2022/23: with feedback on CP22/07 and ‘made rules’ 1 Summary Introduction
1.1 We are publishing the 2022/23 periodic regulatory fees and levies for the:

• Financial Conduct Authority (FCA)
• Financial Ombudsman Service
• Money and Pensions Service (referred to in our FEES manual as the Single Financial
  Guidance Body SFGB)
• Devolved authorities
• The Treasury’s expenses in funding the teams that tackle illegal money lending
  1.2 We are also publishing our feedback on the responses to the consultation on the
  draft fees and levies rules in CP22/07 ‘FCA Regulated fees and levies: Rates proposals 2022/23’, published on 7 April 2022. The consultation period closed on 12 May 2022. Who this applies to
  1.3 This Policy Statement (PS) applies to all FCA fee-payers and to any businesses
  considering applying for FCA authorisation or registration. Table 1.2 at the end of this
  chapter will help identify which chapters relate to them.
  1.4 It contains no material directly relevant to retail financial services consumers
  or consumer groups, although our fees are indirectly met by consumers of financial services. The wider context
  1.5 Our annual fees consultation follows the following cycle:
• October or November – we consult on any changes to our policy on how we raise fees
  and levies. We give our feedback on the consultation responses in the following March Handbook Notice.
• January – we consult on the Financial Services Compensation Scheme (FSCS)
  management expenses levy limit (MELL), a joint consultation with the Prudential Regulation Authority (PRA). We give our feedback on the consultation responses in the March Handbook Notice.
• March or April – we consult on FCA periodic fees rates for the next financial year
  (1 April to 31 March) and any proposed changes to application fees or other fees. We also consult on the Financial Ombudsman Service general levy, the Single Financial Guidance Body levies and illegal money-lending levies for the next financial year.
• June to July – we publish feedback in a policy statement on responses received to the
  March or April CP, along with final fees and levy rates.

PS22/7
Chapter 1
Financial Conduct Authority
FCA regulated fees and levies 2022/23: with feedback on CP22/07 and ‘made rules’ October/November – fees policy consultation paper June/July – publish feedback on March consultation paper and final fees and levy rates in a policy statement January – FSCS MELL consultation paper March/April – consultation paper on rates for FCA periodic fees and Financial Ombudsman Service, Single Financial Guidance Body Guidance, illegal money-lending levies, plus any feedback on fees policy consultation paper if appropriate February – where appropriate publish feedback on fees policy consultation paper in Handbook Notice March – publish feedback on FSCS/MELL consultation paper in Handbook Notice Annual funding requirement (AFR)
1.6 Our fees enable us to recover the costs of delivering our priorities and achieving our
objectives, as set out in the annual Business Plan.
1.7 As explained in our Business Plan for 2022/23 and CP22/07, our total annual funding
requirement (AFR) for 2022/23 was £640.0m when we consulted, an increase of £26.3m (4.3%) over 2021/22.
1.8 Table 1.1 summarises the components of the AFR. It was made up of a baseline budget
for ongoing regulatory activities (ORA). This remained flat in real terms, increasing from £575.6m to £611.3m in line with inflation of 6.2% at the end of February 2022. This was rebased by £6.1m to £617.4m to take account of the increase in employers’ National Insurance contributions and new ORA responsibilities.
1.9 Since consulting, we have made some changes which have had the effect of reducing
the AFR from £640.0m to £630.9m, an increase of £17.2m (2.8%) over 2021/22 and of reducing the fees payable slightly, from £591.0m when we consulted to £581.5m:

• Taking into account feedback from smaller firms in particular, we are phasing the increase
  in minimum fees over 4 years instead of 3, reducing the overall AFR by £9.1m (see our response to feedback after paragraph 2.19).
• Uplifting the charges for Appointed Representatives (ARs) in line with inflation as described
  in paragraph 2.20 has reduced the fee per AR from £287 to £266 and per introducer AR (IAR) from £86 to £80 and this has reduced the AFR for fee-block A.22 by £0.1m.

PS22/7
Chapter 1
Financial Conduct Authority
FCA regulated fees and levies 2022/23: with feedback on CP22/07 and ‘made rules’

• We are able to reduce the total amount of fees payable by retaining sufficient
  revenues from financial penalties to cover our 2021/22 enforcement costs. We apply these as a rebate against the following year’s fees and the balance paid to the Treasury. When we published CP22/07, we estimated the revenue from financial penalties at £49.1m. We are now able to confirm it at £49.4m. Chapter 5 sets out details of the financial penalty scheme.
  Table 1.1: Comparison of AFR for 2022/23 with AFR for 2021/22
  Proposed
  2022/23
  Actual
  2021/22 Movement
  £m %
  ORA baseline budget (1) 611.3 575.6 35.7 6.2% NI Rate Increase 3.1 - 3.1 - ORA new responsibilities budget (2) 3.0 - 3.0 - Rebased ORA budget 617.4 575.6 41.8 7.3% Minimum Fee Adjustments(3) (9.1) 0.0 (9.1) - Adjustment for appointed representatives (3) (0.1) 0.0 (0.1) - Scope change (4) 10.4 8.3 2.1 25.3% – Cryptoasset businesses 8.0 - 8.0 - – Financial promotions 2.4 - 2.4 - – SM&CR 0.0 - – CMC 0.0 - Other initiatives: 12.3 29.8 (17.5) (58.7%) – EU withdrawal 0.0 10.0 (10.0) (100.0%) – Business Interruption Insurance 0.0 7.5 (7.5) (100.0%) – Transformation programme 10.0 10.0% – Consumer harm campaign 2.3 2.3 0.0 0.0% Total AFR 630.9 613.7 17.2 2.8% Financial penalty rebate 49.4 50.5 (1.1) (2.2%) Fees payable 581.5 563.2 18.3 3.3% (1) ORA baseline budget for 2021/22 included appointed representatives fee from principal firms (£7.2m), revised consumer credit minimum fees (£5.0m), revised flat fee under Money Laundering Regulations (£0.5m); (2) ORA new responsibilities 2021/22: credit rating agencies (£1.2m), trade/securitisation repositories (£0.5m), claims management companies (£1.7m); ORA new responsibilities in 2021/22 were £3.4m and have been included in the ORA baseline budget. (3) Reductions in AFR following consultation (see paragraph 2.19): Modification to structure of minimum fees in fee-blocks A and CC (£9.1m), uplifting charge for appointed representatives in line with inflation (£0.1m). (4) Scope change 2021/22: Senior managers and certification regime (£4.4m), EU benchmarks (£1.9m), credit rating agencies (£1.1m), trade/securitisation repositories (£0.9m). What we are changing
  1.10 Following our consultation through CP22/07, we are setting the fee and levy rates
  for 2022/23, replacing the charges for 2021/22, to recover our costs. We received 32 responses to CP22/07. We appreciate the time and effort that was put into reviewing and responding to our consultation. Annex 1 has the full list of non-confidential respondents.

PS22/7
Chapter 1
Financial Conduct Authority
FCA regulated fees and levies 2022/23: with feedback on CP22/07 and ‘made rules’
1.11 Chapter 2 sets out the final position on FCA periodic fees for authorised firms, reviews
the feedback we received and presents our responses.
1.12 Chapter 3 summarises the final position on FCA periodic fees for other bodies, reviews
the feedback we received and presents our response.
1.13 Chapter 4 reviews the feedback we received and presents our responses on our
proposals for application fees for credit rating agencies (CRAs), trade repositories (TRs), securitisation repositories (SRs) and third country firms seeking certification as a CRA or recognition as a TR.
1.14 Chapter 5 presents the final allocation to fee-blocks of the revenue from the financial
penalties we have imposed on firms.
1.15 Chapter 6 reviews the feedback we received on the allocation of the Financial
Ombudsman Service (the Ombudsman Service) general levy between industry blocks and presents our responses.
1.16 Chapter 7 reviews the feedback we received on our proposed levies for the Money and
Pension Service (MaPS) and presents our responses.
1.17 Chapter 8 reviews the feedback and sets out our responses on our proposals for
funding debt advice delivered by the Devolved Authorities in Scotland, Wales and Northern Ireland.
1.18 Chapter 9 reviews the feedback and presents our responses on recovering the costs of
the illegal money-lending (IML) levy rates from consumer credit firms. Compatibility statement
1.19 The rules we have now made are not substantially different from those proposed in
Appendix 1 of CP22/07.
1.20 Annex 2 of CP22/07 included a statement that we did not expect the proposals that
we consulted on to have a significantly different impact on mutual societies when compared to other authorised persons. This assessment has not changed.

PS22/7
Chapter 1
Financial Conduct Authority
FCA regulated fees and levies 2022/23: with feedback on CP22/07 and ‘made rules’ Equality and diversity considerations
1.21 We have considered the equality and diversity issues from our proposals. Overall, we
do not consider that the proposals negatively affect any of the groups with protected characteristics under the Equality Act 2010, and no issues were raised during consultation.
Table 1.2: Fee-payers likely to be affected by each chapter of this PS
Issue Fee-payers likely to be affected Chapter Periodic fee rates Authorised firms in the ‘A,’ ‘CC’ (consumer credit) and ‘CMC’ (claims management) fee-blocks 2 All other fee-payers – fee-blocks ‘B’ to ‘J’ 3 Application fees – new structure Any firm considering applying to the FCA for authorisation or registration, or to vary its permission 4 Integration of certain applications into new structure Firms considering application to the FCA as credit rating agencies (CRAs), trade repositories (TRs), securitisation repositories (SRs), third country firms seeking certification as a CRA or recognition as a TR Applying financial penalties Fee-payers listed in Table 6.1 5 Financial Ombudsman Service: general levy rates Firms subject to the Financial Ombudsman service general levy 6 Money and Pensions Service levies:
Money guidance levy
Authorised firms, payment institutions, electronic money issuers, all consumer credit firms (fee-blocks CC.1 and CC.2) Debt advice levy Firms in fee-blocks A.2 (home finance providers and administrators) and CC.3 (consumer credit lending) Pensions guidance levy Firms in fee-blocks A.4 (insurers – life), A.7 (portfolio managers), A.9 (managers and depositaries of investment funds and operators of collective investment or pension schemes Devolved authorities debt advice levy Firms in fee-blocks A.2 (home finance providers and administrators) and CC.3 (consumer credit lending) Illegal money lending levy All consumer credit firms (fee-blocks CC.1 and CC.2) 10

PS22/7
Chapter 2
Financial Conduct Authority
FCA regulated fees and levies 2022/23: with feedback on CP22/07 and ‘made rules’ 2 FCA periodic fees for authorised firms (Final rules in Appendix 1 - FEES 4 Annex 2AR FEES 4A Annex 1R)
2.1 In this chapter we:

• Respond to feedback on Chapter 3 of the Consultation Paper (CP) (CP22/07), in
  which we consulted on draft fee rates for authorised firms – the ‘A’, ‘CC’ (consumer credit) and ‘CMC’ (claims management companies) fee-blocks; and
• Highlight changes between the draft fees rates in CP21/08 and the final rates in the
  instrument in Appendix 1. These are due to movements between the estimated fee-payer populations and tariff data (measure of size as a proxy for risk) we used to calculate the draft fee rates in CP22/07 and those used to calculate the final fee rates in Appendix 1 of this Policy Statement (PS).
  2.2 We received 13 responses to our consultation question:
  Q1: Do you have any comments on the proposed FCA variable periodic fee rates for 2022/23 for authorised firms? Summary of consultation proposals AFR allocation across fee-blocks – allocations by exception
  2.3 To avoid volatility in fees, we allocate the AFR across fee-blocks according to the
  previous year’s distribution, except where there are clear and material reasons for making exceptional increases or decreases for individual fee-blocks (‘allocation by exception’). This does not affect minimum or flat fees. We have summarised the total AFR in paragraphs 1.6 – 1.9 and Table 1.1. Table 2.1 confirms how the total has been allocated to fee-blocks for 2022/23, showing the increase or decrease compared to 2021/22.
  2.4 This year, the only allocation by exception arises from the cryptoasset scope change
  project. The other initiatives for which we are recovering costs affect all firms, so recovery is spread proportionately across all fee-blocks - the transformation programme (£10m), the consumer harm campaign (£2.3m) and the financial promotions project (£2.4m).

PS22/7
Chapter 2
Financial Conduct Authority
FCA regulated fees and levies 2022/23: with feedback on CP22/07 and ‘made rules’
Table 2.1: 2022/23 AFR allocation across fee-blocks
AFR allocations to fee-blocks
Proposed
2022/23
£m
Actual
2021/22
£m
Movement
£m
Movement
%
A.0 FCA minimum fee 27.2 21.0 6.1 29.1%
AP.0 FCA prudential fee (ii) 21.2 17.9 3.3 18.3% A.1 Deposit acceptors (i) (iv) 81.4 79.0 2.4 3.0% A.2 Home finance providers and administrators (iv) 19.9 18.8 1.1 5.6% A.3 Insurers – general (i) 28.4 28.4 0.0 0.0% A.3 Insurers – general (business interruption) (i) 0.0 7.4 (7.4) (100.0)% A.4 Insurers – life (i) (iv) 48.7 47.7 1.0 2.1% A.5 Managing agents at Lloyd's (i) 0.2 0.2 0.0 (0.2)% A.5 Managing agents at Lloyd’s (i) (business interruption) 0.0 0.1 (0.1) (100.0)% A.6 The Society of Lloyd's (i) 0.4 0.4 0.0 (0.5)% A.7 Portfolio managers (iv) 49.7 49.0 0.7 1.5% A.9 Managers and depositaries of investment funds, and operators of collective investment schemes or pension schemes (iv)
13.2 12.5 0.7 5.6%
A.10 Firms dealing as principal (iii) 56.4 56.8 (0.4) (0.7)% A.13 Advisors, arrangers, dealers, brokers (iv) 86.8 82.3 4.6 5.6% A.14 Corporate finance advisers (iv) 15.9 15.0 0.8 5.6% A.18 Home finance providers, advisers and arrangers
19.1 18.4 0.6 3.5%
A.19 General insurance mediation 31.5 30.4 1.1 3.5% A.21 Firms holding client money or assets or both 16.0 15.5 0.5 3.6% A.22 Principal firms – appointed representatives 7.1 7.2 (0.1) (1.5)% CC1. Consumer credit–limited permission (iv) 8.8 8.8 0.0 0.2% CC2. Consumer credit–full permission (iv) 45.4 45.3 0.1 0.2% Claims Management Companies 1.9 1.8 0.1 5.3% B. Recognised investment exchanges, recognised overseas investment exchanges, multilateral trading facilities, organised trading facilities, recognised auction platforms, service companies, regulated benchmark administrators, third-country legal representative, benchmark endorsers
8.7 10.2 (1.5) (14.9)%
C. Collective investment schemes 2.9 2.7 0.2 7.1%
D. Designated professional bodies and professional body supervisors 1.9 1.8 0.1 5.1% E. Issuers and sponsors of securities 24.7 23.6 1.2 4.9%

PS22/7
Chapter 2
Financial Conduct Authority
FCA regulated fees and levies 2022/23: with feedback on CP22/07 and ‘made rules’ AFR allocations to fee-blocks Proposed 2022/23 £m Actual 2021/22 £m Movement £m Movement % G. Money laundering regulations; regulated covered bonds regulations; payment services regulations; electronic money regulations; firms undertaking consumer buy-to-let business; data reporting services providers; third-party verification agents; cryptoasset businesses (iv)
11.7 8.1 3.6 44.3%
J.1 Credit rating agencies 1.3 2.3 (1.0) (44.7)% J.2 Trade repositories and J.3 securitisation repositories (iv) 0.5 1.0 (0.5) (46.4)% Total AFR 630.9 613.7 17.2 2.8% Notes:
(i) Fee-block activities that are dual-regulated by the FCA for conduct purposes and the PRA for prudential purposes. (ii) AP.0 FCA prudential fee-block is only recovered from FCA solo-regulated firms in proportion to the total periodic fees they pay through FCA solo-regulated fee-blocks. (iii) Includes certain investment firms that have been designated by the PRA to be regulated by the PRA for prudential purposes. These designated firms do not pay fees in AP.0, but the remaining solo-regulated firms in A.10 do. (iv) Fee-blocks with firms subject to Money-Laundering Regulations contributing towards cryptoasset scope change costs. Recovery of costs of cryptoasset scope change project
2.5 As discussed in CP22/07 (paragraphs 2.9 – 2.16), we proposed to distribute among all
fee-payers subject to the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (MLRs) recovery of the costs of the scope change project to bring certain cryptoasset businesses into supervision under the MLRs. We would normally recover these costs directly from the businesses affected but businesses in this sector are often extremely complex and about 80% of applicants have been rejected by us or have withdrawn their applications. We expect around 50 cryptoasset businesses to be registered. We would have had to increase their fees by up to 300% to recover the £8m project costs from them. We believe this would be disproportionately high for a restricted supervisory regime under the MLRs which does not involve conduct regulation under FSMA. Because they are supervised under the MLRs, we have restricted cost recovery to those fee-blocks where the majority of fee￾payers are subject to the MLRs, identified by Note (iv) in Table 2.1.
2.6 We anticipated this challenge last year and gave advance notice of our thinking in
CP21/33, published in November 2021. We reviewed the feedback received and gave our response in paragraph 2.13 of CP21/07. We noted in paragraph 2.6 of the CP that we may face a similar challenge with pre-paid funeral plan firms next year, and we will discuss the issues in our fees policy CP in November 2022.
2.7 We are only spreading cost recovery of the project set-up costs. Cryptoasset
businesses will pay the full costs of their annual supervision, coming to £3.01m per year. The fee-rate for 2022/23 is £4.03 per £1,000 of supervised income, and we have set the minimum fee at £2,000. Minimum and flat rate fees
2.8 Minimum fees for the ‘A’ and consumer credit (CC) fee-blocks did not form part of the
consultation because the FCA Board set the rates in March 2022, before we published CP22/07. We set out the new structure, including the 2022/23 rates, and provided feedback in handbook notice 97, published in March 2022.

PS22/7
Chapter 2
Financial Conduct Authority
FCA regulated fees and levies 2022/23: with feedback on CP22/07 and ‘made rules’
2.9 We proposed to increase all other minimum and flat rate fees in line with the 6.2%
increase in the baseline ORA.
2.10 Firms which are dual-regulated with the Prudential Regulation Authority (PRA) pay
lower fees in fee-block A.0 to take account of the fact that they are paying both financial regulators, so their charge is £750 – 50% of the charge of £1,750.
2.11 Credit unions and non-directive friendly societies (NDFSs) are also dual-regulated, but
we did not integrate them into the new model to maintain the various concessions they receive on FCA fees to support their social missions. We proposed to extend this concession to the larger credit unions and friendly societies as well. They currently pay the same minimum fees as other dual-regulated firms. Large credit unions and friendly societies may have noticed that the fees calculator was for a while allocating the full fee to them. This was due to technical problems which have now been resolved.
2.12 Table 2.2 shows the minimum fees for dual-regulated firms, clarifying the distinction
between charges for firms with and without concessions.
Table 2.2: Minimum fees for dual-regulated firms
2021/22 2022/23 Increase
Firms without concessions £574 £750 £176
Firms with concessions
Credit union Up to £0.5m of MELs* £92 £97 £5 Up to £2m of MELs* £310 £327 £17 Over £2m of MELs* £574 £606 £32 Non-directive friendly society Small £247 £261 £14 Large £574 £606 £32 Notes

• MELs – Modified eligible liabilities (ie deposits)
  Small friendly society – up to £0.5m of gross written premium in fee-block A.3 or up to £1m in A.4, and best estimate liabilities up to £1m. Variable periodic fees for the A fee-blocks
  2.13 The final fee-rates are in Appendix 1 (FEES 4 Annex 2A). Our other proposals in chapter
  3 of CP22/07 were:

• To continue to apply a premium of 25% and 65% to the fee rates for medium-high
  and high-impact firms respectively in the top 2 bands of the A.1 fee-block (Deposit acceptors).
• To continue to use bandings within the A.21 fee-block (firms holding client money
  or assets or both) based on the risk classifications we apply to firms in the Client Assets sourcebook (CASS).
• To maintain the fee arrangements for firms based in the European Economic Area
  (EEA) which are in the final year of the transitional regime.
  2.14 In addition, we proposed in paragraph 2.17 of the CP to return to the standard invoice
  payment term of 30 days.

PS22/7
Chapter 2
Financial Conduct Authority
FCA regulated fees and levies 2022/23: with feedback on CP22/07 and ‘made rules’ Feedback from consultation
2.15 We received a significant amount of feedback that we should not increase fees,
especially minimum fees for small firms. One respondent asked us to commit to freeze minimum fees for a period once they had all been set at £2,200 in 2024/25. We were also asked about our overall cost controls and the extent to which we had sought to make savings. One respondent commented that, while the FCA’s fees might not look material in relation to other costs, they caused concern for smaller fee-payers when all the costs are taken together collectively.
2.16 There were some suggestions that we should revise our approach to fees to take
account of sub-standard behaviour - for example, introducing the equivalent of a no claims discount, factoring in the number of complaints upheld by the Financial Ombudsman Service or moving towards a ‘polluter pays’ approach. One respondent cited the lower consumer risks presented by mutuals compared to many banks and repeated earlier suggestions that building societies should be decoupled from the deposit takers fee-block.
2.17 Four respondents expressed disappointment that, despite the objections raised
when we consulted last November, we had maintained our proposal to recover the £8m scope change costs of cryptoasset businesses from the wider population of fee￾payers subject to the MLRs.
2.18 There were three comments on the rates for ARs in fee-block A.22, all arguing that the
increases were unacceptably high (from £250 to £287 for ARs and £75 to £86 for IARs). One commented that these increases of nearly 15% had been ‘sneaked in’ without comment. Another expressed concern that the FCA Board minutes for 24 March did not mention the increased AR fee, suggesting the Board had not been made aware of it. They also said that this increase had been ‘dropped into the consultation paper without any context’ which showed a lack of transparency, particularly because this fee applies retrospectively from 1 April 2022.
2.19 One respondent supported the removal of extended payment terms on invoices, since
small and medium firms normally pay their fees in instalments so are not affected in practice. Three others said the 90-day concession had been useful, one commenting that it was ‘somewhat ironic’ for the FCA to take a rigid approach while expecting regulated firms to show flexibility towards their own customers. One suggested that the FCA should signal its willingness to consider extended payment terms where there are reasonable grounds given the current economic climate where firms and customers are experiencing significant inflationary pressures against their own cash flows, coupled with an overall increase in regulatory costs. Our response Our responses are:

• We know that our costs are borne by the regulated population. We
  have strong internal processes for challenging and controlling our costs and identifying savings where possible. We froze our minimum and flat-rate fees for two years during the pandemic. In response to the feedback on our November 2021 consultation proposals for a

PS22/7
Chapter 2
Financial Conduct Authority
FCA regulated fees and levies 2022/23: with feedback on CP22/07 and ‘made rules’ new structure for minimum fees, we lessened the impact when we set the rates in March 2022 by spreading the increases over three years instead of two.

• We recognise that this is still a difficult period for businesses,
  especially small businesses. Therefore, although these fees did not form part of the current consultation, we have decided to extend the phased restructuring of minimum fees for the A and CC fee-blocks over 4 years. As we explained in paragraph 1.9, this has the effect of reducing the AFR by £9.1m. Such a material reduction represents a challenge to us and we will continue to keep our costs under close review. Tables 2.3 and 2.4 compare the previous structure with the current restructuring.
  Table 2.3: Current structure of minimum fees
  Credit-related income 2020/21 2021/22 2022/23 2023/24 2024/25 Fee-block A.0 Not applicable £1,151 £1,750 £2,200 £2,200 Fee-block CC.1 (limited consumer credit permission) Up to £10,000 £106 £250 £500 £750 £1,100 £10,000 – £50,000 £266 £500 £800 £50,000 – £100,000 £424 £1,100 Over £100,000 £530 £750 £1,100 Fee-block CC.2 (full consumer credit authorisation) Up to £50,000 £318 £750 £1,500 £2,000 £50,000 – £100,000 £530 £1,000 £2,200 £1,750 £2,200 Over £100,000 £1,061 £1,151
  Table 2.4: Revised structure of minimum fees
  Credit-related income 2020/21 2021/22 2022/23 2023/24 2024/25 2025/26 Fee-block A.0 Not applicable £1,151 £1,151 £1,500 £1,750 £2,000 £2,200 Fee-block CC.1 (limited consumer credit permission) Up to £10,000 £106 £250 £350 £600 £800 £1,100 £10,000 – £50,000 £266 £500 £700 £900 £50,000 – £100,000 £424 £1,100 Over £100,000 £530 £750 £1,000 £1,100 Fee-block CC.2 (full consumer credit authorisation) Up to £50,000 £318 £750 £1,000 £1,250 £1,500 £50,000 – £100,000 £530 £1,000 £1,250 £1,500 £1,750 £2,200 Over £100,000 £1,061 £1,151 £1,500 £1,750 £2,000
• We have to recover our full costs and all firms should make a
  reasonable contribution towards them. We have extended the phasing of minimum fees beyond 2024/25 and cannot make commitments about our fee levels beyond 2025/26.
• We have in the past considered linking fees to performance. The
  overwhelming majority of firms are compliant and we believe it would be disproportionately costly to administer fairly and consistently. For example, few firms would have all or none of the complaints against

PS22/7
Chapter 2
Financial Conduct Authority
FCA regulated fees and levies 2022/23: with feedback on CP22/07 and ‘made rules’ them upheld by the Financial Ombudsman Service so we would have to devise a form of weighting and possibly factor in a more qualitative assessment of the seriousness of the complaints to strike a balance between, say, a firm with several relatively minor technical breaches against a firm with a single case of wide-ranging consumer harm. Apart from the administrative expense, any charging system based on performance is likely to increase the number of challenges to invoices.

• We do not propose to change our position on decoupling building
  societies from other deposit acceptors. We reviewed the position of building societies in our policy statement PS20/07 (paras 2.24 and 2.25). There, we explained that fee-blocks group firms together that carry out common permitted regulatory activities and no account is taken in other fee-blocks of the differing risk profiles of sub-groups of firms or individual firms.
• We explained in CP22/07 why we were proceeding with the proposal
  to share recovery of the cryptoasset scope change costs among the wider population despite the objections we had received. We agree that, since cryptoassets will not be the last small market to be brought into scope, we need to continue the discussion of our policy on the recovery of project and work programme costs. We intend to include proposals in our autumn CP on fees policy.
• One respondent pointed out that mortgage intermediaries are not
  subject to the MLRs. We have excluded their fee-block (A.18) from contributing towards recovery of the cryptoasset costs.
• We did not single out the AR fee-block (A.22) for comment because
  it was not an exception to the standard modelling criteria. Its AFR increased by 7.9% after taking account of inflation and its contribution towards wider FCA costs as explained in paragraphs 2.3-2.4. The rates per AR were pushed beyond that, to nearly 15%, as a result of a reduction of 11% in the number of ARs. This would not have affected the total recovered, but it would have affected the distribution of cost recovery between fee-payers. Since consulting, we have decided it would be more consistent to treat the AR and IAR fees in line with our approach to other flat rate fees set out in paragraph 2.8 and increase them by 6.2% only to take account of inflation - so from £250 to £266 for ARs and from £75 to £80 for IARs. We are reviewing our long-term funding arrangements for developing policy towards ARs and ongoing regulation and enforcement, where we expect to intensify activity in line with our published business plan and strategy. We will review the options for cost recovery in the fees policy CP that we expect to publish in November.
• Extended payment terms result in additional administration and
  so add time and costs to the fee collection process and systems maintenance. These costs are passed on to other fee-payers, so we are not maintaining this concession. If a firm faces genuine difficulty over the timing of its invoice, we encourage early engagement with our Fees team.

PS22/7
Chapter 2
Financial Conduct Authority
FCA regulated fees and levies 2022/23: with feedback on CP22/07 and ‘made rules’ Changes between draft fee rates and final rates
2.20 We highlighted in CP22/07 that the draft fee rates and levies were calculated using
estimated fee-payer populations and tariff data (measures of size). We explained that these may change when we calculate the final fee rates in June 2022.
2.21 Table 2.5 shows the estimated firm populations and tariff data which were used to
calculate the draft fee-rates in Appendix 1 of CP22/07 and the actual figures used to calculate the final fee rates in Appendix 1 of this PS.
2.22 Firms can use our online fees calculator to calculate their individual fees based on the
final rates in Appendix 1 of this PS.
Table 2.5: Changes in data used to calculate draft and final fee rates and year-on-year movement in
actual fee rates between 2021/22 and 2022/23 Fee block Tariff base Number of firms in fee-blocks Tariff data 2022/23 Estimated 2021/22 Actual (i) Change 2022/23 Estimated 2021/22 Actual(i) Change Change in rates A.1 Modified eligible liabilities 746 750 (0.5)% £3,706.6bn £3,706.3bn 0.0% 0.3% A.2 Number of mortgages or other home finance transactions 446 449 (0.7)% £6.9m £6.8m 0.5% 0.0% A.3 Gross written premium 312 314 (0.6)% £72.8bn £68.2bn 6.7% (6.1)% Best estimate liabilities £139.8bn £140.5bn (0.5)% 1.1% A.4 Gross written premium 150 152 (1.3)% £132.5bn £127.8bn 3.7% (3.3)% Best estimate liabilities £1,554.4bn £1,481.7bn 4.9% (4.3)% A.5 Active capacity 57 57 0.0% £39.7bn £39.7bn (0.1)% (2.4)% A.7 Funds under management 2,819 2,851 (1.1)% £11,422.4bn £11,314.1bn 1.0% (0.6)% A.9 Gross income 1,338 1,362 (1.8)% £14.1bn £13.7bn 3.1% (2.7)% A.10 Traders 440 447 (1.6)% 8,157 8,215 (0.7)% 1.0% A.13 Annual income 11,651 11,901 (2.1)% £34.8bn £34.7bn 0.3% 0.0% A.14 Annual income 803 824 (2.5)% £11.2bn £10.5bn 7.4% (6.5)% A.18 Annual income 5,578 5,664 (1.5)% £1.9bn £1.9bn 2.2% (3.9)% A.19 Annual income 12,588 12,812 (1.7)% £18.6bn £18.8bn (1.1)% 1.4% A.21 Client money 1,042 1,075 (3.1)% £185.9bn £189.7bn (2.0)% 2.8% Assets held £19,458.3bn £19,463.7bn 0.0% 0.3% A.22 Appointed Representatives 3,266 3,266 0.0% 36,425 37,191 (2.1)% (7.3)% CC1. Annual income 21,780 21,952 (0.8)% £2.0bn £2.1bn (3.6)% (4.0)% CC2. Annual income 12,920 13,143 (1.7)% £24.7bn £25.4bn (2.7)% (4.0)% CMC Annual income 579 607 (4.6)% £209.0m £308.1m (32.1)% 67.7% Notes:
(i) ‘Actual’ refers to the data as set out in Table 2.3 of PS21/07, published in July 2021.

PS22/7
Chapter 3
Financial Conduct Authority
FCA regulated fees and levies 2022/23: with feedback on CP22/07 and ‘made rules’ 3 FCA periodic fees for other bodies (Final rules in Appendix 1 - FEES 4 Annex 2AR, Annex 4R, Annex 5R, Annex 10R, Annex 11R, Annex 14R, Annex 15R, Annex 16R, FEES 4A Annex 2R, Annex 1R, FEES App 2
Annex 2 Part 3, FEES App 3.1.2)
3.1 In this chapter, we give feedback on the responses to our proposals in Chapter 4 of
CP22/07 on the draft fee-rates rules for bodies that fall within the ‘B’ to ‘J’ fee-blocks:

• B – market infrastructure providers
• C – collective investment schemes
• D – designated professional bodies and professional body supervisors
• E – issuers and sponsors of securities
• G – firms subject to: money laundering regulations including cryptoasset
  businesses, regulated covered bonds regulations, payment services regulations, electronic money regulations, firms undertaking consumer buy-to-let business, data reporting services providers, third-party verification agents
• J – credit rating agencies, trade repositories and securitisation repositories
  3.2 We also highlight the changes between the draft fee rates in CP22/07 and the final
  rates contained in Appendix 1 of this policy statement (PS). Consultation responses
  3.3 Our consultation proposals were:
• To increase all minimum and flat-rate fees in line with the 6.2% increase in our ORA
  (ongoing regulatory activities) budget.
• To return to the standard invoice payment term of 30 days.
  3.4 Our question was:
  Q2: Do you have any comments on the proposed FCA 2022/23 minimum fees and periodic fee rates for fee payers other than authorised firms? Feedback from consultation
  3.5 We received 10 responses.
• Two respondents supported the fees for trade repositories (TRs) and securitisation
  repositories (SRs) in fee-blocks J.2 and J.3. A third argued that the fees of SRs were, at £11.75 per £1,000 of regulated income, disproportionately high compared to the rate of £1.97 per £1,000 for credit rating agencies (CRAs) in fee-block J.1. The risks for SRs, the respondent asserted, are closer to CRAs than TRs.
• We received responses from 7 of the 22 professional body supervisors (PBSs)
  overseen by OPBAS (Office for Professional Anti-Money Laundering Supervision). Although the budget for OPBAS had increased by only 5%, several noted that

PS22/7
Chapter 3
Financial Conduct Authority
FCA regulated fees and levies 2022/23: with feedback on CP22/07 and ‘made rules’ the variable fee-rates had increased by nearly 21%, which they considered excessive, arguing that such volatility in the variable fee is unsustainable. Other bodies expressed concern about the lack of transparency and explanation for the proposed increase and asked for justification of it. There was also concern about the consistency of reporting by PBSs, and a comment that minimum fees should not have been increased in line with ORA because that was not relevant to OPBAS. Several PBSs were also disappointed that they had not been alerted that the consultation was taking place.

• There were no comments on the payment terms.
  Our response
  Our responses are:
• We are recovering fixed amounts from fee-blocks, so low headline
  rates often indicate high volumes of data rather than lower fees payable. In the case of CRAs, we are recovering £1.2m from 10 fee￾payers, and the average fee is approximately £126,000. With TRs and SRs, we are recovering £0.5m from 4 fee-payers and the average fee is about £135,000. So, the difference between the fees paid is not as large as the fee-rates might indicate. We are satisfied that we are recovering the appropriate amounts from these firms.
• The OPBAS levy is based on the number of individuals each PBS
  supervises under the MLRs and the reported figure had reduced from last year. Since we are recovering a fixed amount, a reduction in the number of individuals will raise the rate per individual. In itself, this need not significantly affect the totals paid by the various fee￾payers but in this case it produced a large change in the pattern of cost recovery between them compared to last year. This tended to confirm the suspicions of some respondents that the data might not all have been prepared in line with our definition for fees purposes. We accordingly carried out a data validation exercise with the individual PBSs. This confirmed that the figures for some had been understated. The revised figures supplied directly by PBSs generate a rate per individual of £35.19. This is a rise of 7% rather than 21% as consulted on and, more importantly, the pattern of distribution is closer to last year’s. We had used standard reports to avoid the need for additional reporting by PBSs so we are discussing with them how best to ensure that we have access to validated data in the future.
• Since OPBAS staff are FCA employees, the FCA’s ORA does affect
  the costs of OPBAS and so it is appropriate that its minimum fees should be uplifted on the same basis as other minimum fees.
• We apologise that we did not alert PBSs and will ensure they are made
  aware of fees consultations in the future.
  Changes between draft fee rates and final rates
  3.6 We highlighted in CP22/07 that we calculated the draft fee rates and levies using
  estimated fee-payer populations and tariff data (measures of size). We explained that these may change when we calculate the final fee rates in June 2022.

PS22/7
Chapter 3
Financial Conduct Authority
FCA regulated fees and levies 2022/23: with feedback on CP22/07 and ‘made rules’
3.7 Table 3.1 lists the fee-blocks where the percentage variance in the fee rates from
2021/22 has changed from the draft rates in CP22/07 and the final rates in Appendix 1 of this PS.
3.8 Firms can use our online fees calculator to calculate their individual fees based on the
final rates in Appendix 1 of this PS.
Table 3.1: Variance in fee rates from 2021/22 – CP22/07 compared to actual
Fee-block (variable fee rate)
Variance in fee rates from
2021/22 (i)
CP22/07 Actual
C: Collective investment schemes (13.4)% (3.7)% D: Designated professional bodies 4.2% (1.8)% D: OPBAS 20.9% 7.2% G.3: Payment Services Regulations - large payment institutions and registered account information service providers 14.0% 35.5% G.10: Electronic Money Regulations - large electronic money institutions (67.7)% (63.4)% J: Trade repositories (40.9)% (47.0)%

PS22/7
Chapter 4
Financial Conduct Authority
FCA regulated fees and levies 2022/23: with feedback on CP22/07 and ‘made rules’ 4 FCA application fees (Final rules in Appendix 1 – FEES 3 Annex 13, Annex 15)
4.1 In Chapter 5 of CP22/07, we reminded firms of the new structure of application fees we
introduced from 24 January 2022. Further details, including references to the original consultation, are in PS22/1 and the categories are set out in FEES 3 Annex 1A. Since then, we have introduced a new category 1 charge (currently £250) for notifications of functions under the senior managers regime (SMR) and controlled functions for appointed representatives (CF(AR)) (see Handbook Notice 98).
4.2 We explained that, to avoid the fees falling behind in the future, we intend to uprate
the charges each year in line with the ORA budget and that we will be consulting on the first uprating in April 2023, to come into effect from 1 July 2023.
4.3 We also consulted on allocating categories for application fees for credit rating
agencies (CRAs), trade repositories (TRs) and securitisation repositories (SRs). Q3: Do you have any comments on our proposals for integrating into the new pricing structure the application fees for credit rating agencies (CRAs), trade repositories (TRs), securitisation repositories and third country firms seeking certification as a CRA or recognition as a TR?
4.4 We received one response, which supported our proposal, so we have confirmed the
rates as consulted on:

• CRAs, TRs and SRs: Category 5 (£5,000);
• Third country firms seeking certification as a CRA or recognition as a TR: Category
  4 (£2,500).
  4.5 We are also implementing a commitment we made in CP21/08 to exempt credit unions
  from the new Category 1 (£250) charge for applications under the senior managers and certification regime (SMCR) and the controlled functions for appointed representatives (CF(AR)). This was omitted when we implemented the charge in May 2022 (see Handbook Notice 98), so we have amended FEES 3 Annex 15R to rectify the position.

PS22/7
Chapter 5
Financial Conduct Authority
FCA regulated fees and levies 2022/23: with feedback on CP22/07 and ‘made rules’ 5 Applying financial penalties
5.1 In this chapter we confirm the amount of retained penalties from 2021/22 and the final
percentage rebates that will be applied to 2022/23 periodic fees.
5.2 The final amount of retained penalties for 2021/22 is £49.4m, 0.6% more than the £49.1m
we estimated in chapter 5 of CP22/07. Table 5.1 sets out how we have distributed the retained penalties across fee-blocks, in the same proportions as CP22/07.
Table 5.1: Final schedule application of 2021/22 retained penalties in 2022/23
Fee-block
Actual amounts in this PS Estimates in CP22/07 Actual 2021/22 retained penalties to be applied to benefit of fee-payers Actual rebate applied to 2022/23 fees Estimated 2019/20 retained penalties to be applied to benefit of fee-payers Estimated rebate applied to 2020/21 fees (£m) (£m) AP.0 FCA prudential 0.0 0.0% 0.0 0.0% A.1 Deposit acceptors 7.8 10.0% 7.7 9.8% A.2 Home finance providers and administrators
0.8 4.2% 0.8 4.1%
A.3 Insurers – general 1.6 5.7% 1.6 5.6%
A.4 Insurers – life 2.8 6.0% 2.8 5.9%
A.5 Managing agents at
Lloyd’s
0.0 0.0% 0.0 0.0%
A.6 The Society of Lloyd’s 0.0 0.0% 0.0 0.0% A.7 Portfolio managers 11.5 24.1% 11.4 23.7% A.9 Managers and depositaries of investment funds, and operators of collective investment schemes or pension schemes
1.8 14.4% 1.8 14.2%
A.10 Firms dealing as principal 6.3 11.6% 6.2 11.4% A.13 Advisors, arrangers, dealers or brokers (not holding or controlling client money or assets, or both)
4.2 5.0% 4.2 4.9%
A.14 Corporate finance advisers
1.9 12.7% 1.9 12.5%
A.18 Home finance providers, advisers and arrangers
3.2 17.5% 3.2 16.8%
A.19 General insurance mediation
2.9 9.5% 2.8 9.3%

PS22/7
Chapter 5
Financial Conduct Authority
FCA regulated fees and levies 2022/23: with feedback on CP22/07 and ‘made rules’ Fee-block Actual amounts in this PS Estimates in CP22/07 Actual 2021/22 retained penalties to be applied to benefit of fee-payers Actual rebate applied to 2022/23 fees Estimated 2019/20 retained penalties to be applied to benefit of fee-payers Estimated rebate applied to 2020/21 fees (£m) (£m) A.21 Firms holding client money or assets or both
3.2 21.0% 3.2 20.6%
A.22 Principal firms – appointed representatives
0.0 0.0% 0.0 0.0%
B. Recognised investment exchanges, operators of multilateral trading facilities and recognised auction platforms (only)
0.0 0.0% 0.0 0.0%
CC1 Consumer credit – limited permission
0.0 0% 0.0 0.0%
CC2 Consumer credit – full permission
0.0 0.0% 0.0 0.0%
E. Issuers and sponsors of securities
1.5 6.2% 1.5 6.1%
G.1 Persons registered under the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017
0.0 0.0% 0.0 0.0%
G.2, G.3, G.4, G.5 Firms under the Payment Services Regulations 2017
0.0 0.0% 0.0 0.0%
G.10, G.11 Firms under the Electronic Money Regulations 2011
0.0 0.0% 0.0 0.0%
G.20, G.21 Firms under the
Mortgage Credit Directive
Order 2015
0.0 0.0% 0.0 0.0%
G.25 Firms under the Data
Reporting Regulations 2017
0.0 0.0% 0.0 0.0%
Total 49.4 49.1

PS22/7
Chapter 6
Financial Conduct Authority
FCA regulated fees and levies 2022/23: with feedback on CP22/07 and ‘made rules’ 6 Financial Ombudsman Service general levy (Final rules in Appendix 1 - FEES 5 Annex 1R)
6.1 In this chapter we give feedback on the responses to Chapter 7 of CP22/07. In that
chapter, we consulted on the 2022/23 fee rates for firms in the compulsory jurisdiction
(‘CJ’) of the Financial Ombudsman Service (FOS) and set out the proposed fee rates for firms in each industry block. Summary of proposals
6.2 The Financial Ombudsman Service presented its final budget to the FCA Board in
March 2022. The FCA Board approved the total budget of £291.7m for 2022/23 (up from a total budget of £260.2m in 2021/22). The total budget covered the annual general levy payable for the compulsory jurisdiction (‘the general levy’), voluntary jurisdiction (‘VJ levy’) and case fees. The Financial Ombudsman Service includes a breakdown of its budget in its 2022/23 plans and budget.
6.3 The general levy only applies to firms covered by the CJ and it is raised and collected
by the FCA. It is payable by all firms authorised or registered by us. This includes those that have not had any cases referred to the Financial Ombudsman Service. However, firms who do not deal with eligible complainants (see DISP 2.7.3R) can, by written notification to the FCA, claim exemption from the rules relating to the funding of the Financial Ombudsman Service (see DISP 1.1.12R).
6.4 The Financial Ombudsman Service consulted on its 2022/23 budget in its December
2021 consultation. It proposed increasing its compulsory jurisdiction levy by £10m to £106m (approximately 10%) from £96m in 2021/22. The Financial Ombudsman Service also proposed reducing the number of free cases from 25 to 3.
6.5 In CP21/08 we said that the Financial Ombudsman Service anticipated that the previous
levy set at £96m, together with a case fee of £750, will enable it to maintain price stability for the next three years, with no further increases to the levy or case fee. The Financial Ombudsman Service in their plans and budget consultation and final plans for 2022/23 acknowledged this has not happened. The Financial Ombudsman Service had anticipated that, through its prevention strategy and working closely with financial firms, it could reduce the volume of new cases. However, it seems that it had not yet seen the full extent of the increase in demand which started in 2020/21 and instead case volumes increased considerably. The Financial Ombudsman Service’s proposed levy of £106m, coupled with a reduction in free cases to 3 for non-group firms, will allow it to fund the investment in its programme to transform its operations and reduce queues.
6.6 We asked:
Q4: Do you have any comments on the proposed method of calculating the tariff rates for firms in each fee‑block towards the CJ levy and our proposals for how the overall CJ levy should be apportioned?

PS22/7
Chapter 6
Financial Conduct Authority
FCA regulated fees and levies 2022/23: with feedback on CP22/07 and ‘made rules’ Feedback on proposals
6.7 We received a total of seven responses, with five coming from trade bodies and two
from individual firms.
6.8 Four respondents commented on the fairness of the Financial Ombudsman Service
case fees and the Financial Ombudsman Service decision to reduce the number of free cases from 25 to 3.

• Two respondents felt that the reduction of free cases from 25 to 3 could negatively
  affect the introduction of the new Consumer Duty as it could result in fewer Consumer Duty-based complaints reaching the Financial Ombudsman Service. The respondents felt that this could affect the Financial Ombudsman Service’s ability to develop an approach to complaints related to Consumer Duty and reduce insight available to industry on how the Consumer Duty is interpreted.
• One respondent suggested that it would be better for the Financial Ombudsman
  Service to charge for all cases rather than making a free case allowance, provided that this allowed for a reduction in the general levy.
• One respondent wanted to return to an 85:15 split between case fee and CJ levy
  income, because this would mean the firms generating the most complaints would pay a greater contribution. Our response The Financial Ombudsman Service consults publicly every December on its budget, which sets out its annual income requirement for the coming financial year and how this is split between the CJ levy and case fees. The budget is scrutinised by the FCA Oversight Committee on behalf of the FCA Board, which, under the Financial Services and Markets Act 2000 (FSMA), is required to approve the final budget. As part of this process, the Financial Ombudsman Service gives the FCA a summary of consultation feedback and sets out how it has responded to stakeholders in its final budget document. The Financial Ombudsman Service publishes the budget consultation and final budget document on its website. Because the Financial Ombudsman Service’s annual income requirement and overall CJ levy and case ‑fee split is determined by this process, the FCA’s rates consultation is only about apportioning the levy across the different fee blocks. But we have shared the points summarised in paragraph 6.8 with the Financial Ombudsman Service. The Financial Ombudsman Service is also planning to publish a discussion paper in Q1 of the 2022/23 financial year which will consider different long term funding approaches. It will consider how it incentivises constructive behaviour from the whole industry, as well as claims management companies (CMCs) and consumers, and achieves financial sustainability.

PS22/7
Chapter 6
Financial Conduct Authority
FCA regulated fees and levies 2022/23: with feedback on CP22/07 and ‘made rules’
6.9 In addition to the points above, which are outside the scope of this consultation, there
were some specific responses which are covered below.
Apportionment of levy to the CMC fee block
6.10 One respondent said that the apportionment of CMC funding (0.29%) seemed
low, arguing that the activities of CMCs placed a significant burden on the Financial Ombudsman Service and Consumer Credit firms. Our response The Financial Ombudsman Service’s method when apportioning the CMC levy reflects the demand the Financial Ombudsman Service expects to be placed on its resources to consider complaints about CMCs. Accordingly, the levy apportionment reflects the expected volume of complaints about CMCs as authorised firms, not the volume of complaints brought by CMCs as representatives of complainants. Increase in the tariff rate for building societies
6.11 One Respondent wanted to know why there was an increase in the tariff rate for
building societies, the I001 industry block.
Our response
Reflecting the approach we take for the FCA fee blocks, the industry block structure for the Financial Ombudsman Service is based on grouping firms together where they undertake common permitted regulatory activities. As with the corresponding FCA fee block A.1, the common activity for industry block I001 is accepting deposits. Reflecting the way the annual funding requirement for firms in A.1 is calculated, the general levy payable by firms in I001 is based on an objective measure of size (tariff base) that is consistently applied to all firms in the fee-block. No account is taken in any FCA fee block or Financial Ombudsman Service industry block of the differing risk profile of sub-groups of firms or individual firms.

PS22/7
Chapter 7
Financial Conduct Authority
FCA regulated fees and levies 2022/23: with feedback on CP22/07 and ‘made rules’ 7 Money and Pensions Service levies (Final rules in Appendix 1 - FEES 7A Annex 1R, 2R, 3R and FEES 7C Annex 1R, 2R, 3R)
7.1 In this chapter, we set out the 2022/23 final levies for the Money and Pensions Service
(MaPS) and give feedback on the responses we received to Chapter 8 of CP22/07.
7.2 The Department for Work and Pensions (DWP) notified us that the total amount we
must collect for MaPS in 2022/23 is £159.4m, made up of amounts for 3 separate levy components:

• £20.5m for money guidance in the UK
• £91.4m for debt advice in England
• £47.5m for pensions guidance in the UK (£14.1m of which is designated for the
  pensions dashboard).
  7.3 We have adjusted the levy amounts to reflect underspends, notified to us by the DWP,
  on the amounts collected under last year’s levies. Table 7.1 below shows the final agreed levy amounts we will be raising in comparison to what we originally consulted on:
  Table 7.1: 2021/22 Final Funding requirement – compared to consultation
  Function
  Consultation funding requirement (£m)
  Final funding requirement (£m) Movement (£m) Money Guidance 20.5 17.2 (3.3) Pensions Guidance 33.4 31.1 (2.3) Debt Advice 91.4 80.7 (10.7) Pensions Dashboard 14.1 18.9 4.8 Money and Pensions Service Total 159.4 147.9 (11.5)
  7.4 In 2021/22, the Pensions Dashboard Programme signed a commercial agreement with
  a third-party provider. This agreement had higher costs at the outset but provided better value for money in the long term. As a result, an overpayment occurred in 2021/22, which is now being collected. For money guidance, we have updated the allocation to reflect MaPS usage rates and strategic priorities, using the same formula we previously used for MAS. In line with the proposals in CP22/07, for 2022/23, we will allocate MaPS costs to fee-blocks on the same basis we used in 2021/22. Consultation Responses
  7.5 We received a total of nine responses to our consultation questions on the proposed
  MaPS levy rates for 2022/23, with six responses coming from trade bodies and three from individual firms. Of the responses, three agreed with our outlined proposals.

PS22/7
Chapter 7
Financial Conduct Authority
FCA regulated fees and levies 2022/23: with feedback on CP22/07 and ‘made rules’
7.6 Three of the responses noted dissatisfaction with elements of the cost allocation
methodology. One commented that the percentages for cost allocation of the pensions guidance levy appeared disproportionate, particularly in relation to the pension dashboard. Two responses related to the debt advice levy with one proposing the use of firm income as opposed to amount lent to be factored into the allocation calculations as a fairer way to apportion costs. The other challenged the equal application of the levy between fee blocks A2 and CC3. One of these respondents called for the urgent completion of wider work by MaPS and Government to establish a more sustainable debt advice funding approach for the future with legislation introduced to compel all sectors to pay (for example, local authorities, central government and utilities).
7.7 Two respondents said that costs for the money guidance and debt advice levies should
be apportioned across other sectors and authorities. A suggestion was made for DWP to liaise with other regulatory bodies such as Ofgem and Ofcom for firms in the energy and telecoms industries to contribute towards the levies. We have passed this comment to DWP for their consideration.
7.8 Three responses also expressed concern, or for more information to be made available
about the reasoning behind the increase in debt advice and pensions guidance levy rates from 2021/22.
7.9 A respondent stated there to be a significant gap in early years education around financial
matters, suggesting that it would seem appropriate for the FCA to do more to educate those of school age about financial matters, given its consumer protection objective. Our Response The allocation for Pension Wise takes into account additional resource to ensure sufficient capacity in the service to deliver the Stronger Nudge to Pension Guidance policy. These new regulations came into force from 1 June 2022 and require schemes to ensures any saver who accesses their pension through the pension freedoms will receive a Pension Wise appointment or will have actively opted out. We recognise that financial services firms are concerned about increased levels of funding provisions for the MaPS levies and the mechanics of the current funding model, including the levy methodology. For this consultation, we did not consult on which firms should contribute towards the levies or what tariff base should be used to calculate a firm’s contribution. However, on the levy methodology, we have noted the feedback provided and will keep these comments and suggestions under review. The allocation for pensions dashboards reflects the current build and test phase of the Pensions Dashboards Programme. The Programme is owned by MaPS and is responsible for building and testing the digital architecture that will enable dashboards to operate. Further information about the Programme’s different phases can be found on its website at www.pensionsdashboardsprogramme.org.uk.

PS22/7
Chapter 7
Financial Conduct Authority
FCA regulated fees and levies 2022/23: with feedback on CP22/07 and ‘made rules’ On feedback received about the FCA’s role in financial education, we would like to highlight financial education and capability as being closely aligned to the work and objectives of MaPS. MaPS leads delivery of the UK Strategy for Financial Wellbeing, which in part is designed to enable the provision of financial education to children and young people.

PS22/7
Chapter 8
Financial Conduct Authority
FCA regulated fees and levies 2022/23: with feedback on CP22/07 and ‘made rules’ 8 Devolved authorities levy (Final rules in Appendix 1 - FEES 7B Annex 1R, FEES 7D Annex 1R)
8.1 In this chapter we set out the 2022/23 final levy amounts for the Devolved Authorities debt
advice levy and give feedback on the responses we received to Chapter 9 of CP22/07.
8.2 The total budget for delivering debt advice in the Devolved Authorities in 2022/23 is
£11.7m. No underspends were reported so the levy amount being collected is the same as that proposed in CP22/07. The Treasury calculated the budget requirements using a funding formula based on population sizes and levels of debt advice need in Scotland, Wales and Northern Ireland. We proposed to allocate costs under the Devolved Authorities debt advice levy in the same proportion they were allocated last year. Consultation Responses
8.3 We received one response to our request for comments on the proposed debt advice
levy rate for 2022/23. This mirrored the same sentiment one of the responses received about the Money and Pensions Service (MaPS) debt advice levy, on the unfairness of the current allocations and the current funding model.
8.4 Our response to the feedback received on the current allocations and the funding
model is in Chapter 7. The FCA does not have a role in deciding the levy amount to be collected as the Treasury is responsible for telling us how much we need to collect for the Devolved Authorities to provide debt advice. We have given the Treasury a summary of the response received for their consideration.

PS22/7
Chapter 9
Financial Conduct Authority
FCA regulated fees and levies 2022/23: with feedback on CP22/07 and ‘made rules’ 9 Illegal money lending levy (Final rules in Appendix 1 - FEES 13 Annex 1R, FEES 13A Annex 1R)
9.1 In this chapter, we confirm that the expenses the Treasury will incur in 2022/23 to
provide funding for the teams tackling illegal money lending (IML) are £6.8m as notified in CP22/07. This includes FCA collection costs of £0.1m. The variable rate for fee￾block CC.2 has increased from £0.259 per £1,000 to £0.270 per £1,000 because the confirmed total of annual income reported by fee-payers is lower than the estimate on which we consulted. The other rates are unchanged:
Table 9.1: 2022/23 IML levy rates
Type of firm Fee
CC1. Limited permission £5.00 flat rate
CC2. Full permission
Up to £250,000 consumer credit income: £10 minimum levy Over £250,000 consumer credit income: £10 + £0.27 per £1,000
9.2 Our consultation question was:
Q5: Do you have any comments on the proposed 2022/23 illegal money lending (IML) levy rates?
9.3 We received one response, which did not object to the proposals. It also made some
comments on the work to tackle IML which we have passed across to the Treasury.

PS22/7
Annex 1
Financial Conduct Authority
FCA regulated fees and levies 2022/23: with feedback on CP22/07 and ‘made rules’
Annex 1
List of non-confidential respondents
Amazing Flowers and Cushions
AM Best
Association of Accounting Technicians
Association of British Credit Unions Ltd
Association of Chartered Certified Accountants Association of Mortgage Intermediaries Association of Taxation Technicians Building Societies Association Chartered Institute of Taxation Credit Services Association Customised Mortgage Solutions Finance & Leasing Association Institute of Chartered Accountants in England and Wales Institute of Financial Accountants Insurance Development and Training Ltd International Association of Bookkeepers Legal & General Group Martin Smith, Independent Financial Adviser National Pawnbrokers Association PRIMIS Mortgage Network Prosperity Wealth Management Limited REGIS-TR UK LTD TMA Mortgage Club

PS22/7
Annex 2
Financial Conduct Authority
FCA regulated fees and levies 2022/23: with feedback on CP22/07 and ‘made rules’
Annex 2
FCA financial penalty scheme

1. Paragraph 21 of Schedule 1ZA of the Financial Services and Markets Act 2000 (FSMA)
   (as amended by the 2012 Act and the Legal Aid, Sentencing and Punishment of Offenders Act 2012 (Referral Fees) Regulations 2013) sets out how we should treat the financial penalties we impose on regulated persons (firms).
2. The key requirements are set out below.

• The financial penalties we receive must be paid to the Treasury net of certain
  enforcement costs incurred in the financial year in which the penalties were received. These enforcement costs, which are defined in the legislation and subject to a power of direction by the Treasury, represent the ‘retained penalties’.
• For retained penalties, we must prepare and operate a scheme (the Financial
  Penalty Scheme (FPS)) for ensuring that retained penalties are applied for the benefit of firms.
• Firms that have become liable to pay any penalty to us in any financial year do not
  receive any benefit from any penalty imposed on any firm under the scheme in the following year.

3. Under our FPS we apply retained penalties, received in any financial year, as a rebate to
   the periodic fees paid in the following financial year by firms in the fee-blocks set out in
   Table A.
4. The total retained penalties from any financial year will be applied across these fee￾blocks in proportion to the allocation of the enforcement budgeted costs for the
   following financial year. This will target the benefit from retained penalties to the fee￾blocks that are paying for enforcement costs. The allocation of enforcement costs to fee-blocks will be as it was in previous years other than where there has been a material and explainable exception (allocation by exception). Where such an allocation by exception has occurred the retained penalties in the following year will be applied to the revised baseline fee-blocks.
5. If financial penalties do not cover enforcement costs in any year the application of
   retained penalties to the baseline fee-blocks will not cover the enforcement costs allocated to them.
6. Enforcement costs are not allocated to the A.0 minimum fee fee-block. Therefore,
   retained penalties are not allocated to this fee-block.
7. The firms on which any penalty was imposed in a financial year will not receive any rebate
   to their periodic fees paid, for any retained penalties, in the following financial year.
8. Each year we publish a schedule setting out the:

• total retained penalties in the previous financial year
• amount of retained penalties allocated to each fee-block, and
• percentage rebate that will be applied in the following financial year to the periodic
  fees paid by the firms in those fee-blocks

PS22/7
Annex 2
Financial Conduct Authority
FCA regulated fees and levies 2022/23: with feedback on CP22/07 and ‘made rules’
9. A draft of this schedule is published in our annual fees rates CP in March; the final
schedule is published in the subsequent policy and feedback statement to that
consultation in June.
Table A: Financial Penalty Scheme – relevant fee-blocks
Fee-block
AP.0 FCA prudential
A.1 Deposit acceptors
A.2 Home finance providers and administrators A.3 Insurers − general A.4 Insurers − life A.5 Managing agents at Lloyd’s A.6 The Society of Lloyd’s A.7 Portfolio managers A.9 Managers and depositaries of investment funds, and operators of collective investment schemes or pension schemes A.10 Firms dealing as principal A.13 Advisory arrangers, dealers or brokers (not holding or controlling client money or assets, or both) A.14 Corporate finance advisors A.18 Home finance providers, advisers and arrangers A.19 General insurance mediation A.21 Firms holding client money or assets or both A.22 Principal firms – appointed representatives B. Recognised investment exchanges, operators of multilateral trading facilities and recognised auction platforms (only) CC1 Consumer credit – limited permission CC2 Consumer credit – full permission E. Issuers and sponsors of securities G.1 persons registered under the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 G.2, G.3, G.4, G.5 firms under the Payment Services Regulations 2017 G.10, G.11 firms under the Electronic Money Regulations 2011 G.20, G.21 firms under the Mortgage Credit Directive Order 2015 G.25 firms under the Data Reporting Regulations 2017

PS22/7
Annex 3
Financial Conduct Authority
FCA regulated fees and levies 2022/23: with feedback on CP22/07 and ‘made rules’
Annex 3
Abbreviations used in this paper
Abbreviation Description
AFR Annual funding requirement
CASS Client assets source book
CC Consumer credit
CIS Collective investment scheme
CJ Compulsory jurisdiction (Financial Ombudsman Service) CMC Claims management company CRA Credit rating agency DAs Devolved authorities DWP Department for Work and Pensions EEA European Economic Area EU European Union FCA Financial Conduct Authority FEES Fees manual FP Pre-paid funeral plan FSA Financial Services Authority FSCS Financial Services Compensation Scheme FSMA Financial Services and Markets Act 2000 IML Illegal money-lending MaPS Money and Pensions Service MAS Money Advice Service MLRs Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017

PS22/7
Annex 3
Financial Conduct Authority
FCA regulated fees and levies 2022/23: with feedback on CP22/07 and ‘made rules’ Abbreviation Description MTF Multilateral trading facility ORA Ongoing regulatory activities OTF Organised trading facility PRA Prudential Regulation Authority RIE Recognised Investment Exchange ROIE Recognised Overseas Investment Exchanges SR Securitisation repository SFGB Single Financial Guidance Body TPAS The Pensions Advisory Service TPR Temporary permissions regime TR Trade repository We make all responses to formal consultation available for public inspection unless the respondent requests otherwise. We will not regard a standard confidentiality statement in an email message as a request for non-disclosure. Despite this, we may be asked to disclose a confidential response under the Freedom of Information Act 2000. We may consult you if we receive such a request. Any decision we make not to disclose the response is reviewable by the Information Commissioner and the Information Rights Tribunal. You can download this Consultation Paper from our website: www.fca.org.uk. All our publications are available to download from www.fca.org.uk. If you would like to receive this paper in an alternative format, please call 020 7066 9644 or email:
publications_graphics@fca.org.uk or write to: Editorial and Digital team, Financial Conduct Authority, 12 Endeavour Square, London E20 1JN. Sign up for our news and publications alerts

PS22/7
Appendix 1
Financial Conduct Authority
FCA regulated fees and levies 2022/23: with feedback on CP22/07 and ‘made rules’
Appendix 1
Handbook text

FCA 2022/27
PERIODIC FEES (2022/2023) AND OTHER FEES INSTRUMENT 2022 Powers exercised A. The Financial Conduct Authority (“the FCA”) makes this instrument in the exercise of the powers and related provisions in or under the following:
(1) the Financial Services and Markets Act 2000 (“the Act”):
(a) section 73A (Part 6 Rules);
(b) section 137A (The FCA’s general rules); (c) section 137SA (Rules to recover expenses relating to the single financial guidance body); (d) section 137SB (Rules to recover debt advice expenses incurred by the devolved authorities); (e) section 137T (General supplementary powers); (f) section 139A (Power of the FCA to give guidance); (g) section 234 (Industry funding); (h) section 333T (Funding of action against illegal money lending); and (i) paragraph 23 (Fees) in Part 3 (Penalties and Fees) of Schedule 1ZA (The Financial Conduct Authority); (2) regulation 118 (Costs of supervision) of the Payment Services Regulations 2017 (SI 2017/752); (3) regulation 59 (Costs of supervision) of the Electronic Money Regulations 2011 (SI 2011/99); (4) paragraph 12K (Power to charge fees) of Part 1A of Schedule 3 and paragraph 35 (Power to charge fees) of Part 3 of Schedule 3 to the Electronic Money, Payment Services and Payment Systems (Amendment and Transitional Provisions) (EU Exit) Regulations 2018 (SI 2018/1201); (5) regulation 46 of and paragraph 5 of Schedule 1 (Fees) to the Regulated Covered Bond Regulations 2008 (SI 2008/346); (6) article 25 (Application of provisions of the Act to the FCA in respect of its supervision of consumer buy-to-let mortgage firms) of the Mortgage Credit Directive Order 2015 (SI 2015/910); (7) regulation 40 (FCA: penalties, fees and exemption from liability in damages) of the Data Reporting Services Regulations 2017 (SI 2017/699); (8) regulation 26 (FCA: penalties, fees and exemption from liability in damages) of the Financial Services and Markets Act 2000 (Benchmarks) Regulations 2018 (SI 2018/135); (9) paragraph 11 (Penalties and fees) of Schedule 1 and paragraph 4(7) of

FCA 2022/27
Schedule 2 to the Securitisation Regulations 2018 (SI 2018/1288);
(10) regulation 102 (Costs of supervision) of the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (SI 2017/692); (11) regulation 27 (Costs of supervision) of the Oversight of Professional Body Anti-Money Laundering and Counter Terrorist Financing Supervision Regulations 2017 (SI 2017/1301); (12) regulations 206 (Meaning of "qualifying functions" in this Part) and 208 (Fees: Financial Conduct Authority) of the Financial Services and Markets Act 2000 (Amendment) (EU Exit) Regulations 2019 (SI 2019/632); and (13) regulation 63 (power to charge fees) of the EEA Passport Rights (Amendment, etc. and Transitional Provisions) (EU Exit) Regulations 2018 (SI 2018/1149). B. The rule-making powers listed above are specified for the purpose of section 138G (Rule-making instruments) of the Act.
C. As required by section 137SA(5) of the Act, the Secretary of State has consented to
rules made under that section and, as required by section 137SB(5) of the Act, the Treasury has consented to rules made under that section. Commencement D. This instrument comes into force on 1 July 2022. Amendments to the Handbook E. The Fees manual (FEES) is amended in accordance with the Annex to this instrument. Notes F. In the Annex to this instrument, the “notes” (indicated by “Editor’s Note:”, “Note:” or “Note”) are included for the convenience of readers but do not form part of the legislative text. Citation G. This instrument may be cited as the Periodic Fees (2022/2023) and Other Fees Instrument 2022. By order of the Board 23 June 2022

FCA 2022/27
Annex
Amendments to the Fees manual (FEES)
In this Annex, underlining indicates new text and striking through indicates deleted text. 3 Application, Notification and Vetting Fees …
3.2 Obligation to pay fees
…
3.2.7 R Table of application, notification, vetting and other fees payable to the FCA
Part 1A: Application, notification and vetting fees
(1) Fee payer (2) Fee payable (£) by reference to the pricing category in FEES 3 Annex 1AR. Due date ... (da) Persons making an application or notification in relation to applications set out in FEES 3 Annex 2R:
(i) authorisation order for or recognition under
section 272 of the Act of
a collective investment scheme;
(ii) application for the authorisation of an AIF as an LTIF; (iii) the management company of a scheme making a notification under section 264 of the Act; (iv) a non-UK AIFM (with a branch in the UK) notifying the FCA Category applicable to the application or notification set out in FEES 3 Annex 2R On or before the date the application or notification is made

FCA 2022/27 of its intention to market an AIF in the UK under regulation 59 of the AIFMD UK regulation; (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; and (vi) an applicant for registration on the register of small registered UK AIFM. ... … 3 Annex 2R Application and notification fees payable in relation to collective investment schemes, LTIFs, money market funds and AIFs marketed in the UK Legislative provision Nature and purpose of fee Payable by Applicable pricing category in FEES 3
Annex 1AR
Umbrella factor
(note 1)
Part 1 [deleted]
…
Part 2 Application fees payable for firms to be subject to COLL
...
Part 2A Application fees payable for firms applying for a UK AIF to be
authorised under the ELTIF regulation article 5 of the LTIF regulation
Article 5 of
the ELTIF
LTIF regulation
On application for an AIF to be authorised under the ELTIF LTIF regulation An applicant 5 2

FCA 2022/27
…
3 Annex
13R
Fees payable for registration as a credit rating agency, trade repository or securitisation repository Application type Amount payable (£) Applicable pricing category in FEES 3 Annex 1AR Credit rating agency 5,000 5 Trade repository 5,000 5 Third country firm seeking certification as a credit rating agency 1,500 4 Third country firm seeking recognition of a trade repository 1,500 4 Securitisation repository 5,000 5 ... 3 Annex 15R FCA Transaction Fees Application type Pricing category in FEES 3
Annex 1AR
Due date
Part 2B Application fees payable for UK or non-EEA firms applying for
authorisation under article 5 of the Money Market Funds Regulation …
Part 3 (notifications) [deleted]
Section 264
of the Act
On giving notice under
section 264 of the Act
The operator
3 2
Part 4 (Alternative Investment Funds: fees payable for making a notification to the
FCA to market an AIF)
...

FCA 2022/27
... ...
5 Validation Orders
...
6 Applications in respect of controlled functions under the Senior Managers and Certification Regime (SMCR) and applications by principal firms in respect of controlled functions for appointed representatives (CF(AR)), using the Long Form A, other than where the applicant is a credit union,

• in respect of
  controlled functions under the Senior
  Managers and
  Certification
  Regime (SMCR); or
• by principal firms in
  respect of controlled functions for appointed representatives (CF(AR)), using the Long Form A, provided the application [i.e none of the above] does not form part of an application for authorisation, variation of permission or registration of an appointed representative. 1 On or before the date the application is made 4 Periodic fees 4 Annex 1AR ... FCA activity groups, tariff bases and valuation dates

FCA 2022/27
Part 2
This table sets out the activity groups (fee blocks) in relation to (i) the minimum fees payable to the FCA and (ii) the prudential fee payable to the FCA. Activity group Fee payer falls into the fee-block if A.0 FCA minim um fee (1) it is in at least one of the fee blocks under Part 1; and (2) it is not:
(a) a UK ISPV; or
(b) a firm whose only permission is operating a dormant fund account; or (c) a firm exclusively carrying on credit-related regulated activities.; or (d) a funeral plan intermediary or provider in fee-block A.23. ... 4 Annex 2AR FCA Fee rates for the period from 1 April 2021 2022 to 31 March 2022 2023
Part 1
...
Activity group Fee payable
A.1 Band width (£million of Modified Eligible Liabilities (MELs)) Fee (£/£m or part £m of MELs) General Periodic fee >10 – 140 14.5772 14.526 >140 – 630 14.5772 14.526 >630 - 1,580 14.5772 14.526 >1,580 - 13,400 18.222 18.158

FCA 2022/27

13,400 24.052 23.968
The tariff rates in A.1 are not relevant for the permissions relating to operating a dormant account fund. Instead, a flat fee of £6,367 £6,762 is payable in respect of these permissions. A.2 Band width (No. of mortgages and/or home finance transactions) Fee (£/mortgage) >50 2.816 2.877 A.3 Gross written premium for fees purposes (GWP) Periodic fee Band Width (£million of GWP) Fee (£/m or part £m of GWP) >0.5 365.89 plus, where neither the firm, nor a member of its group, was a defendant in Financial Conduct Authority v Arch Insurance (UK) Ltd and others [2020] EWCA Comm 2448, 110.63 351.76 PLUS Best estimate liabilities for fees purposes (BEL) General Periodic fee Band Width (£million of BEL) Fee (£/£m or part £m of BEL) >1 18.9 plus, where neither the firm, nor a member of its group, was a defendant in Financial Conduct Authority v Arch Insurance (UK) Ltd and others [2020] EWCA Comm 2448, 6.15 19.17 For UK ISPVs the tariff rates are not relevant and a flat fee of £515 £547.00 is payable in respect of each FCA financial year (the 12 months ending 31 March).

FCA 2022/27
A.4 Gross written premium for fees purposes (GWP) General Periodic fee Band Width (£million of GWP) Fee (£/£m or part £m of GWP) >1 224.27 220.78 PLUS Best estimate liabilities for fees purposes (BEL) General Periodic fee Band Width (£million of BEL) Fee (£/£m or part £m of BEL) >1 12.89 12.55 A.5 Band Width (£million of Active Capacity (AC)) Fee (£/£m or part £m of AC) >50 6.90 plus, where neither the firm, nor a member of its group, was a defendant in Financial Conduct Authority v Arch Insurance (UK) Ltd and others [2020] EWCA Comm 2448, 2.15 6.20 A.6 Flat fee (£) 373,766.69 372,052.78 A.7 For class 1(C), (2), (3) and (4) firms:
Band Width (£million of Funds under
Management (FuM))
Fee (£/£m or part £m of FuM)

10 4.55 4.353
For class 1(B) firms: the fee calculated as for class 1(C) firms above, less 15%. For class 1(A) firms: the fee calculated as for class 1(C) firms above, less 50%. A.9 Band Width (£million of Gross Income (GI)) Fee (£/£m or part £m of GI) >1 973.26 937.33

FCA 2022/27
A.10 Band Width (No. of traders)
Fee (£/person)

1 6,697.26 6,917.74
For firms carrying on auction regulation bidding, the fee in A.10 is calculated as above less 20% for each trader that carries on auction regulation bidding but not MiFID business bidding or dealing in investments as principal. A.13 Band Width (£ thousands of annual income (AI)) Fee (£/£ thousand or part £ thousand of AI) >100 2.443 2.494 A.14 Band Width (£ thousands of annual income (AI)) Fee (£/£ thousand or part £ thousand of AI) >100 1.548 1.414 A.18 Band Width (£ thousands of Annual Income (AI)) Fee (£/£ thousand or part £ thousand of AI) >100 11.337 10.072 A.19 Band Width (£ thousands of Annual Income (AI)) Fee (£/£ thousand or part £ thousand of AI) >100 1.662 1.693 A.21 Client money Band Width (£ client money) (CM) held Fee (£/£ millions or part £ million of CM) less than £1 million 102.80 108.70 an amount equal to or greater than £1 million but less than or equal to £1 billion
77.10 81.53
more than £1 billion 51.40 54.35
PLUS
Safe custody assets

FCA 2022/27
Band Width (£ safe custody assets) (CA) held Fee (£/£ millions or part £ million of CA) less than £10 million 0.4460 0.374 an amount equal to or greater than £10 million and less than or equal to £100 billion
0.3345 0.2805
more than £100 billion 0.2230 0.187
A.22 Band Width (No. of appointed representatives) Fee (£/appointed representative) >0 250 266.00 for appointed representatives other than introducer appointed representatives >0 75 80.00 for introducer appointed representatives … B. Service Companies Band Width Fee (£) Annual income up to and including £100,000 1,132 1,202.00 PLUS:
Band width Fee (£/£thousand or part £ thousand of income) Annual income over £100,000
1.19 0.80
B. Regulated benchmark administrators
Band width Fee (£)
Annual income up to and including
£100,000
1,151 1,222.00

FCA 2022/27
PLUS:
Band width Fee (£/£ thousand or part £ thousand of income) Annual income over 100,000
2.00 1.46
B. Recognised investment exchanges
Band width Fee (£)
Annual income up to and including
£10,000,000
109,304 116,081.00
PLUS:
Band width Fee (£/£ thousand or part £ thousand of income) Annual income over £10,000,000
3.44 2.63
B. Recognised auction platforms
58,266 61,878.00
B. Recognised overseas investment exchanges 62,424 66,294.00 B. MTF and OTF operators Band width Fee (£) Annual income up to and including £100,000 1,151 1,222.00 PLUS:
Band width Fee (£/£ thousand or part £ thousand of income) Annual income over £100,000
2.32 2.27
CC1. Credit￾related regulated activities with Band Width (£ thousands of annual income (AI)) Fee (£)

FCA 2022/27 limited permission 0 - 10 500 350 >10 - 100 800 700 >100 1,100 1,000 PLUS:
Fee (£/£ thousand or part £ thousand of AI) >250 0.50 0.534 CC2. Credit￾related regulated activities Band Width (£ thousands of annual income (AI)) Fee (£/£ thousand or part £ thousand of AI) 0 - 50 1,500 1,000 >50 -100 1,750 1,250 >100 1,500 PLUS:
Fee (£/£ thousand or part £ thousand of AI) >250 1.40 1.495 … CMC. Band width (£ thousands of annual turnover) Fee (£) 0-50 500 531.00 50-100 1,000 1,062.00 >100 3.35 8.52 per £ thousand or part per £ thousand
Part 2
…

FCA 2022/27
Part 2(a) tariff rates (minimum fees) payable to the FCA by FCA￾authorised persons
A.0 (1) £1,750 £1,500 unless it is a community finance organisation with a tariff base of:
(a) up to and including 3 mortgages and/or home finance transactions, in which case a minimum fee of £176 £187 is payable; or (b) more than 3 but no more than 10 mortgages and/or home finance transactions, in which case a minimum fee of £597 £634 is payable; or (c) more than 10 but no more than 50 mortgages and/or home finance transactions, in which case a minimum fee of £1,106 £1,175 is payable. … AP.0 Periodic fees payable under fee blocks A.2, A.7 to A.19, A.21, A23 and CC.2 in Part 1 multiplied by rate £0.1055 £0.10193
Part 2(b) tariff rates (minimum fees) payable to the FCA by PRA￾authorised persons
Fee
A.0 (1) £574 unless
:
Any PRA-authorised person except as set out in (2) and (3) £750 (a) It is a credit union that meets the conditions in (2), in which case the minimum fee payable is as set out in (2); [deleted] (b) it is a non-directive friendly society that falls into the A.3 activity group but not the A.4 activity group and has, for that activity, 0.5 million or less in gross written premium for fees purposes and holds best estimate liabilities for fees purposes of 1.0 million or less, in which case the minimum fee payable is £247; or [deleted] (c) it is a non-directive friendly society that falls into the A.4 activity group but not the A.3 activity group and has, for that activity, written 1.0 million or less in gross written premium for fees purposes and holds best estimate liabilities for fees purposes of 1.0

FCA 2022/27 million or less, in which case the minimum fee payable is £247; or [deleted] (d) it is a non-directive friendly society that falls into the A.3 and A.4 activity groups and meets the conditions in (3)(a) and (3)(b), in which case the minimum fee payable is £247. [deleted] (2) The conditions referred to in (1)(a) are that the credit Credit union has a with a tariff base (Modified Eligible Liabilities) of:
(a) 0 to 0.5million, in which case a minimum fee of £92 is payable; or £0 to £0.5million £97 (b) greater than 0.5millon but less than 2.0million, in which case a minimum fee of £310 is payable. £0.5millon to £2.0million £327 (c) above £2 million. £606 (3) The conditions referred to in (1)(d) are that: Non￾directive friendly society that meets the criteria of one of the following categories (a) to (c):
(a) the non-directive friendly society falls into the A.3 activity group and has, for that activity, 0.5 million or less in gross written premium for fees purposes and holds best estimate liabilities for fees purposes of 1.0 million or less; (b) the non-directive friendly society falls into the A.4 activity group and has, for that activity, written 1.0 million or less in gross written premium for fees purposes and holds best estimate liabilities for fees purposes of
1.0 million or less.
Activity group the firm falls into
Gross written premium for fees purposes for that activity Best estimate liabilities for fees purposes for that activity (a) A.3 but not A.4 £0.5 million or less Up to £1 million or less £261

FCA 2022/27
(b) A.4 but not
A.3
£1 million or less
£1 million or less
£261
(c) Both A.3 and
A.4

A.3 £0.5 million or less
£1 million or less
£261
A.4 £1 million or less
£1 million or less
£261
The figures for gross written premium for fees purposes and best estimate liabilities for fees purposes are the same as used for Part 1 of this Annex. … 4 Annex 4R Periodic fees in relation to collective investment schemes, AIFs marketed in the UK, small registered UK AIFMs and money market funds payable for the period 1 April 2021 2022 to 31 March 2022 2023
Part 1 – Periodic fees payable
Scheme type Basic fee
(£)
Total funds/sub
-funds aggregate
Fund factor
Fee (£)
ICVC,
AUT,
ACS,
LTIFs,
Money market funds with effect from 21 July 2018 350.00 324.00 1-2 3-6 7-15 16-50 >50 2.5
350.00 324.00
875.00 810.00
1,750.00 1,620
3,850.00 3,564.00
7,700.00 7,128.00 non-UK AIFs recognised under
section 272 of the
Act
1,425.00
1,320.00
1-2
3-6
7-15
2.5
1,425.00 1,320.00
3,562.50 3,300.00
7,125.00 6,600.00

FCA 2022/27
16-50

50
15,675.00 14,520.00
31,350.00 29,040.00
…
Part 2 – Periodic fees for AIFs marketed in the UK, following a notification to the
FCA under regulation 57, 58 or 59 of the AIFMD UK regulation Kind of notification Fee per AIF (£) Notification under regulation 57 of the AIFMD UK regulation 344 365 Notification under regulation 58 of the AIFMD UK regulation 240 255 Notification under regulation 59 of the AIFMD UK regulation 344 365
Part 3 – Periodic fees paid by small registered UK AIFMs
The annual fee for small registered UK AIFMs is £676 £718
Annex
5R
Periodic fees for designated professional bodies: tariff base, valuation date and tariff rates
Part 1
…
Part 2
This table sets out the tariff rates applicable to designated professional bodies Fee payable in relation to 2021/22 2022/23 Amount payable Minimum fee, payable by all designated professional bodies £10,000 £10,620 Variable fee, payable by designated professional bodies where the number of exempt professional firms regulated or supervised by a designated professional body is greater than 1 £22.80 22.40 multiplied by the total number of exempt professional firms in excess of 1 Note

FCA 2022/27
The Financial Services Register includes details of exempt professional firms carrying out insurance distribution activity. …
Annex
11R
Periodic fees in respect of payment services, electronic money issuance, regulated covered bonds, CBTL business, data reporting services and third party verifiers in relation to the period 1 April 2021 2022 to 31 March 2022 This Annex sets out the periodic fees in respect of payment services carried on by fee-paying payment service providers under the Payment Services Regulations and electronic money issuance by fee-paying electronic money issuers under the Electronic Money Regulations and issuance of regulated covered bonds by issuers and CBTL business carried on by CBTL firms under the MCD Order and data reporting services providers under the DRS Regulations. …
Part 5 – Tariff rates
Activity group
Fee payable in relation to 2021/22 2022/23 G.2 Minimum fee (£) 525 558 £ million or part £m of Modified Eligible Liabilities (MELS) Fee (£/£m or part £m of MELS)

0.1 0.499 0.340
G.3 Minimum fee (£) 525 558
£ thousands or part thousand of Relevant Income Fee (£/£thousand or part £thousand of Relevant Income)
100 0.335 0.454
G.4 Flat fee (£) 545 579
G.5 As in G.3
G.10 Minimum fee (£) 1,726 1,833
£million or part m of average outstanding electronic money (AOEM) Fee (£/£m, or part £m of AOEM) >5.0 35.00 12.80

FCA 2022/27
G.11 Flat fee (£) 1,198 1,272
G.15 Minimum fee for the first registered programme (£) 95,189 98,265 Minimum fee for all subsequent registered programmes 75% of minimum fee for first registered programme £million or part £m of regulated covered bonds issued in the 12 months ending on the valuation date. Fee (£/£m or part £m of regulated covered bonds issued in the 12 months ending on the valuation date) >0.00 17.52 18.26 … G.20 Flat fee (£) 442 469 G.21 Flat fee (£) 220 234 G.25 Flat fee (£) for first data reporting service plus 50% flat fee for each additional data reporting service for which the data reporting services provider has authorisation. 27,326 29,020 G.26 TPV Flat fee (£) 265 281 … …
Annex
14R
UKLA periodic fees for the period from 1 April 2021 2022 to 31 March 2022
Part 1 Base fee
Activity group or invoice code (Note 1)
Description Base fee payable (£)
E.1 Discontinued
E.2 Premium listed issuer
A listed issuer of equity shares and certificates 5,686 6,037

FCA 2022/27 representing shares with a premium listing (see Note 2) E.3 Standard listed issuer A listed issuer of shares and certificates representing certain securities with a standard listing and not with a premium listing (see Note 2) 21,536 22,871 E.4 Discontinued E.5 Discontinued E.6 Non-listed issuer (in DTR) A non-listed issuer (in DTR) 0 E.7 Primary information provider A primary information provider 17,973 19,087 ES.01 Sponsor A sponsor (see Note 3) 29,938 31,794 …
Part 2 Variable fee additional to base fee
Activity Group Market capitalisation as at the last business day of the September prior to the fee-year in which the fee is payable in £million Fee payable in £per £million or £part million E.2 Premium listed issuer (as described in
Part 1)
0 – 100 0

100 – 250 37.335163 33.302966
250 – 1,000
14.405007 12.849266
1,000 – 5,000
8.866872 7.909250
5,000 – 25,000 0.216289 0.192930
25,000 0.069878 0.062331
Annex
15R
Fees relating to the recognition of benchmark administrators and the endorsement of benchmarks for the period 1 April 2020 2022 to 31 March 2021 2023

FCA 2022/27
Activity group Fee payable
A third country legal representative
£13,571 £14,412
A benchmark endorser £7,959 £8,452
4 Annex
16R
Periodic fees for credit rating agencies, trade repositories and securitisation repositories This Annex sets out the periodic fees in respect of credit rating agencies, trade repositories and securitisation repositories. …
Part 4 – Tariff rates
Fee block Activity group Fee payable in relation to the fee year 2021/2022 2022/2023 J.1 Registered credit rating agencies and third country certified credit rating agencies with applicable turnover of £8,994m £8,399m or less Exempt Registered credit rating agencies with turnover above £8,994m £8,399m £3.95 £1.99 per £1k or part-£1k (applies to all turnover) Certified credit rating agencies with turnover above £8,994m £8,399m £5,396 £5,039 J.2 Registered trade repositories £19.88 £10.54 per £1k or part-£1k, subject to a minimum payment of £26,982 £25,197 Recognised trade repositories £4,497 £4,199 J.3 Registered securitisation repositories £19.88 £10.54 per £1k or part-£1k subject to a minimum payment of £26,982 £25,197 4A Temporary Permissions Regime (TPR) and Financial Service Contracts Regime (FSCR) – periodic fees

FCA 2022/27
…
4A
Annex
1R
TP persons periodic fees for the period from 1 April 2021 2022 to 31 March 2022 2023
Part 1
Activity group
Fee payable
A.1 Band Width (£ million of
Modified Eligible Liabilities
(MELs))
Fee (£/£m or part £m of MELs)
General Periodic fee

10 – 140 14.5772 14.526
140 – 630 14.5772 14.526
630 – 1,580 14.5772 14.526
1,580 – 13,400 18.222 18.158
13,400 24.052 23.968
A.2 Band Width (no. of mortgages and/or home finance transactions) Fee (£/mortgage) >50 2.816 2.877 A.3 Gross written premium for fees purposes (GWP) Periodic fee Band Width (£ million of GPI GWP) Fee (£/£m or part £m of GWP) >0.5 365.89 plus, where neither the firm, nor a member of its group, was a defendant in Financial Conduct Authority v Arch Insurance (UK) Ltd and others [2020] EWCA Comm 2448, 110.63 351.76 PLUS Best estimate liabilities for fees purposes (BEL) General Periodic fee

FCA 2022/27
Band Width (£ million of BEL) Fee (£/£m of part £m of BEL) >1 18.90 plus, where neither the firm, nor a member of its group, was a defendant in Financial Conduct Authority v Arch Insurance (UK) Ltd and others [2020] EWCA Comm 2448, 6.15 19.17 A.4 Gross written premium for fees purposes (GWP) General Periodic fee Band Width (£ million of GWP) Fee (£/£m or part £m of GWP) >1 224.27 220.78 PLUS Best estimate liabilities for fees purposes General Periodic fee Band Width (£ million of BEL) Fee (£/£m or part £m of BEL) >1 12.89 12.55 A.7 For class 1(C), (2), (3) and (4) firms:
Band Width (£ million of Funds under Management (FuM)) Fee (£/£m of part £m of FuM) >10 4.55 4.353 Class 1 (C) firms are defined in FEES 4 Annex 1A A.9 Band Width (£ million of Gross Income (GI)) Fee (£/£m of part £m of GI) >1 973.26 937.33 A.10 Band Width (no. of traders) Fee (£/trader) >1 6,697.26 6,917.74 A.13 For class (2) firms Band Width (£ thousands of annual income (AI)) Fee (£/£ thousand or part £ thousand of AI) >100 2.443 2.494 For a professional firm in A.13 the fee is calculated as above less 10%.

FCA 2022/27
A.14 Band Width (£ thousands of annual income (AI)) Fee (£/£ thousand or part £ thousand of AI)

100 1.548 1.414
A.19 Band Width (£ thousands of
Annual Income (AI))
Fee (£/£ thousand or part £ thousand of AI) >100 1.662 1.693 CC.2 Band Width (£ thousands of annual income (AI)) Fee (£) 0 – 50 1,500 >50 – 100 1,750 >100 1,750 PLUS:
Fee (£/£ thousand or part £ thousand of AI) >250 1.40 1.495
Part 2
The table below shows the tariff rates (minimum fees) applicable to each of the fee blocks set out in Part 1 of FEES 4A Annex 1R other than fee-block CC2. Activity group Fee payable A.0 £1,151 £1,750 unless it is a TP firm that also pays minimum fees set out in the PRA Rulebook, in which case it is £574 £875.
Part 3
TA PI firm or TA RAISP firm
Activity group
Fee payable
G.2 Minimum fee (£) 525 558
£ million or part £ million of
Modified Eligible Liabilities
(MELs)
Fee (£/£m or part £m of MELs)
0.1 0.499 0.340

FCA 2022/27
G.3 Minimum fee (£) 525 558
£ thousands or part £ thousand of Relevant Income Fee (£/£thousand or part £ thousand of Relevant Income) >100 0.335 0.454
Part 4
TA EMI firms
Activity group
Fee payable
G.10 Minimum fee (£) 1,726 1,833
£ million or part £ million of average outstanding electronic money (AOEM) Fee (£/£m or part £m of AOEM) >5.0 35.00 12.80 4A
Annex
2R
TPR funds periodic fees for the period from 1 April 2021 2022 to 31 March 2022 2023
Part 1
Scheme type Basic fee
(£)
Total funds/sub￾funds aggregate
Fee (£)
EEA UCITS scheme recognised under Part 6 of The Collective Investment Schemes (Amendment etc.) (EU Exit) Regulations 2018 350.00 324.00 1-2
350.00 324.00
3-6
875.00 810.00
7-15
1,750.00 1,620.00
16-50
3,850.00 3,564.00

50
7,700.00 7,128.00
Note:
Schemes are charged according to the number of funds or sub-funds which a TP firm is operating and marketing in the UK as at 31 March immediately before the

FCA 2022/27 start of the period to which the fee applies. For example, for 2019/20 fees a reference to 31 March means 31 March 2019.
Part 2
Scheme type Fee (£)
EEA AIF, EuVECA, EuSEF, or EEA ELTIF LTIF which may be marketed in the UK under Part 9A of The Alternative Investment Fund Managers (Amendment) (EU Exit) Regulations 2018 344 365 … 5 Financial Ombudsman Service Funding …
Annex
1R
Annual General Levy Payable in Relation to the Compulsory Jurisdiction for 2021/22 2022/23 Introduction: annual budget

1. The annual budget for 2021/22 2022/23 approved by the FCA is
   £260.2m.£291.7m.
2. The total amount expected to be raised through the general levy in 2021/22
   2022/23 will be £96.0m £106m.
   Compulsory jurisdiction - general levy
   Industry block Tariff base General levy payable by firm 1-Deposit acceptors, home finance providers, home finance administrators (excluding firms in block 14) and dormant account fund operators Number of accounts relevant to the activities in DISP 2.6.1R as at 31 December In the case of dormant account fund operators, the tariff base is the number of eligible activated accounts (8). £0.12010 £0.150 per relevant account, subject to a minimum levy of £100

FCA 2022/27
2-Insurers - general
(excluding firms in blocks 13 & 15)
Gross written premium for fees purposes (GWP) as defined in FEES 4
Annex 1AR; or
Relevant gross written premium (RGWP) notified to the FCA under FEES 5.4.1R(1A). £0.414 £0.434 per £1,000 of GWP or RGWP, subject to a minimum levy of £100 3-The Society (of Lloyd’s) Not applicable £94,255 £104,739 to be allocated by the Society
4. Insurers - life
(excluding firms in block 15)
Gross written premium for fees purposes (GWP) as defined in FEES 4
Annex 1AR; or
Relevant gross written premium (RGWP) notified to the FCA under FEES 5.4.1R(1A). £0.0334 £0.0509 per £1,000 of GWP or RGWP, subject to a minimum levy of £130
5. Portfolio managers
(including those holding client money/assets and not holding client money/assets) Flat fee Levy of £210
6. Managers and
depositaries of investment funds, and operators of collective investment schemes or pension schemes Flat fee Levy of £60
7. Dealers as principal Flat fee Levy of £75
8-Advisors, arrangers, dealers or brokers holding and controlling client money and/or assets Annual income as defined in FEES 4
Annex 11A relating to
firm’s relevant business.
£0.466 £0.592 per £1,000 of annual income subject to a minimum fee of £45

FCA 2022/27
9-Advisors, arrangers, dealers or brokers not holding and controlling client money and/or assets Annual income as defined in FEES 4
Annex 11A relating to
firm’s relevant business.
£0.330 £0.42 per £1,000 of annual income subject to a minimum fee of £45 10-Corporate finance advisers Flat fee Levy of £55 11-fee-paying payment service providers (but excluding firms in any other Industry block except Industry block 18) For authorised payment institutions, registered account information service providers, electronic money issuers (except for small electronic money institutions), the Post Office Limited, the Bank of England, government departments and local authorities, and TA EMI firms, TA PI firms and TA RAISP firms, relevant income as described in FEES 4 Annex 11 Part 3. £0.0039 £0.0044 per £1,000 of relevant income subject to a minimum levy of £75 For small payment institutions and small electronic money institutions a flat fee. Levy of £35 13-Cash plan health providers Flat fee Levy of £65 14-Credit unions Flat fee Levy of £55 15-Friendly societies whose tax-exempt business represents 95% or more of their total relevant business Flat fee Levy of £65 16-Home finance providers, advisers and arrangers (excluding firms in blocks 13, 14 & 15) Flat fee Levy of £85

FCA 2022/27
17 - General insurance distribution (excluding firms in blocks 13, 14 & 15) Annual income (as defined in MIPRU 4.3) relating to firm’s relevant business £0.796 £0.857 per £1,000 of annual income (as defined in MIPRU 4.3) relating to firm’s relevant business subject to a minimum levy of £100 18 - fee-paying electronic money issuers For all fee-paying electronic money issuers except for small electronic money institutions, and TA EMI firms, average outstanding electronic money, as described in FEES 4
Annex 11 Part 3.
£0.0001 per £1,000 of average outstanding electronic money subject to a minimum levy of £40 For small electronic money institutions, a flat fee Levy of £50 19 - Credit-related regulated activities with limited permission For not-for-profit debt advice bodies, a flat fee Levy of £0 For all other firms with limited permission, a flat fee Levy of £35 20 - Credit-related regulated activities Annual income as defined in FEES 4
Annex 11BR
Levy of £35
Plus ££1.177 £1.181 per
£1,000 of annual income on income above £250,000 21 - CBTL firms that do not have permission to carry out any regulated activities Flat fee Levy of £35 22 - designated credit reference agencies (but excluding firms in any other industry block) Flat fee Levy of £75 23 – designated finance platforms (but excluding firms in any other industry block) Flat fee Levy of £75

FCA 2022/27
24 claims management companies
Annual income Levy of £50 plus £1.45 £1.20 per £1,000 of annual income … 7A SFGB levies … 7A
Annex
1R
SFGB money advice levy for the period from 1 April 2021 2022 to 31 March 2022 2023
Part 1
This table shows the SFGB money advice levy applicable to each activity group (fee-block). Activity group SFGB money advice levy payable A.1 Band Width (£ million of Modified Eligible Liabilities (MELs)) Fee (£/£m or part £m of MELs) >10 1.114 0.949 A.2 Band Width (no. of mortgages and/or home finance transactions) Fee (£/mortgage) >50 0.601 0.449 A.3 Gross written premium for fees purposes (GWP) Band Width (£ million of GWP) Fee (£/£m or part £m of GWP) >0.5 26.73 21.38 PLUS Best estimate liabilities for fees purposes (BEL) Band Width (£ million of BEL) Fee (£/£m of part £m of BEL)

FCA 2022/27

1 1.47 1.24
A.4 Gross written premium for fees purposes (GWP) Band Width (£ million of GWP) Fee (£/£m or part £m of GWP) >1 12.85 12.77 PLUS Best estimate liabilities for fees purposes (BEL) Band Width (£ million of BEL) Fee (£/£m or part £m of BEL) >1 0.74 0.726 A.5 Band Width (£ million of Active Capacity (AC)) Fee (£/£m or part £m of AC) >50 0.00 A.6 Flat levy 0.00 A.7 For class 1(c), (2), (3) and (4) firms:
Band Width (£ million of
Funds under Management
(FuM))
Fee (£/£m of part £m of
FuM)
10 0.105 0.0840
For class 1(B) firms: the fee calculated as for class 1(C) firms above, less 15%. For class 1(A) firms: the fee calculated as for class 1(C) firms above, less 50%. Class 1(A), (B) and (C) firms are defined in FEES 4
Annex 1AR.
A.9 Band Width (£ million of
Gross Income (GI))
Fee (£/£m of part £m of GI)
1 80.64 96.57

FCA 2022/27
A.10 Band Width (no. of traders)
Fee (£/trader)

1 149.02 125.43
A.13 For class (2) firms
Band Width (£ thousands of annual income (AI)) Fee (£/£ thousand or part £ thousand of AI) >100 0.0515 0.0487 For a professional firm in A.13 the fee is calculated as above less 10%. A.14 Band Width (£ thousands of annual income (AI)) Fee (£/£ thousand or part £ thousand of AI) >100 0.024 0.0186 A.18 Band Width (£ thousands of Annual Income (AI)) Fee ((£/£ thousand or part £ thousand of AI) >100 0.177 0.135 A.19 Band Width (£ thousands of Annual Income (AI)) Fee (£/£ thousand or part £ thousand of AI) >100 0.0289 0.0215 A.21 Band Width (£ client money) (CM) held Fee (£/£ millions or part £m of CM) less than £1 million 1.602 1.296 an amount equal to or greater than £1 million but less than or equal to £1 billion
1.202 0.972
more than £1 billion 0.801 0.648
PLUS
Safe custody assets
Band Width (£ safe custody assets) (CA) held Fee (£/£ millions or part £m of CA) less than £10 million 0.0069 0.0045

FCA 2022/27 an amount equal to or greater than £10 million and less than or equal to £100 billion
0.0052 0.0034
more than £100 billion 0.0035 0.0023
G.3 Minimum fee (£) 10
£ thousands or part £ thousand of Relevant Income Fee (£/£thousand or part £ thousand of Relevant Income) >100 0.0230 0.0262 G.4 Flat fee (£) 10 G.10 Minimum fee (£) 10 £ million or part £m of average outstanding electronic money (AOEM) Fee (£/£m or part £m of AOEM) >5.0 2.62 2.472 G.11 Flat fee (£) 10 CC.1 Minimum fee (£) 10 £ thousand of annual income (AI) Fee (£/£ thousand or part £ thousand of AI) >250 0.0691 0.1004 CC.2 Minimum fee (£) 10 £ thousands of annual income (AI) Fee (£/£ thousand or part £ thousand of AI >250 0.0691 0.1004 Notes (1) The definitions of fee-blocks G5 and G10 under Part 2 and Part 2A of FEES 4 Annex 11R are modified, for the purposes of FEES 7A so that they exclude the Bank of England, government departments, local authorities, municipal banks and the National Savings Bank. (2) The definitions of those fee-blocks are further amended to exclude EEA firms and those which hold a Part 4A permission.

FCA 2022/27
Part 2
(1) This part sets out the minimum SFGB money advice levy applicable to the firms specified in (3) below. (2) The minimum SFGB money advice levy payable by any firm referred to in (3) is £10. (3) A firm is referred to in this paragraph if it falls within the following activity groups: A.1; A.2; A.3 (excluding UK ISPVs); A.4; A.5; A.7; A.9; A.10; A.12; A.13; A.14; A.18; A.19; G.3 and G.10. 7A
Annex
2R
SFGB debt advice levy for the period from 1 April 2021 2022 to 31 March 2022 2023 …
Part 4
This table shows the tariff rates applicable to each of the fee-blocks set out in Part 1 Activity group SFGB debt advice levy payable A.2 Home finance providers and administrators Band width (£million of secured debt) >0 Fee (£/£m or part £m of secured debt) 28.88 26.15 CC.3 Consumer credit lending Band width (£million of value of lending) >0 (Note 1) Fee (£/£m or part £m of value of lending) 163.44 167.76 Notes (1) Credit unions and community finance organisations do not pay any SFGB debt advice levy on the first £2,000,000 of value of lending. (2) The additional fee in column 4 must be paid in addition to the fee in column 3. 7A
Annex
3R
SFGB pensions guidance levy for the period 1 April 2021 2022 to 31 March 2022 2023

FCA 2022/27
Activity group SFGB pensions guidance levy payable A.1 Band width (£ million of modified eligible liabilities (MELs)) >10 Fee (£/£m or part £m of MELS) 1.337 3.239 A.4 Band width (£ million of gross written premium for fees purposes (GWP) >1 Fee (£/£m or part £m of GWP) 37.80 90.49 A.7 For class 1(B), 1 (C), (2) and (3) firms:
Band width (£ million of funds under management (FuM)) >10 Fee (£/£m or part £m of FuM) 0.4363 1.0201 A.9 Band width (£ million of gross income (GI)) >1 Fee (£/£m or part £m of GI) 310.37 574.63 A.13 Band width (£ thousands of annual income (AI)) >100 Fee (£/£ thousand or part of £ thousand of AI) 0.0779 0.1682 … 7B The DA levy … 7B
Annex
1R
DA levy for the period from 1 April 2021 2022 to 31 March 2022 2023

FCA 2022/27
…
Part 4
This table shows the tariff rates applicable to each of the fee-blocks set out in Part 1. Activity group DA levy payable A.2 Home finance providers and administrators Band width (£million of secured debt) >0 Fee (£/£m or part £m of secured debt) 4.748 3.791 CC.3 Consumer credit lending Band width (£million of value of lending) >0 (Note 1) Fee (£/£m or part £m of value of lending) 26.88 24.33 Notes Note:
Credit unions and community finance organisations do not pay any DA levy on the first £2,000,000 of value of lending. 7C Temporary Permissions Regime (TPR) and Financial Service Contracts Regime (FSCR) – Single Financial Guidance Body Levy … 7C
Annex
1R
TPR SFGB money advice levy for the period from 1 April 2021 2022 to 31 March 2022 2023 This table shows the TPR SFGB money advice levy applicable to each activity group (fee-block). Activity group TPR SFGB money advice levy payable
Part 1 TP firms
A.1 Band Width (£ million of Modified
Eligible Liabilities (MELs))
Fee (£/£m or part £m of MELs)

10 1.114 0.949
A.2 Band Width (no. of mortgages and/or home finance transactions) Fee (£/mortgage)

FCA 2022/27

50 0.601 0.449
A.3 Gross written premium for fees purposes (GWP) Band Width (£ million of GWP) Fee (£/£m or part £m of GWP) >0.5 26.73 21.38 PLUS Best estimate liabilities for fees purposes (BEL) Band Width (£ million of BEL) Fee (£/£m of part £m of BEL) >1 1.47 1.24 A.4 Gross written premium for fees purposes (GWP) Band Width (£ million of GWP) Fee (£/£m or part £m of GWP) >1 12.85 12.77 PLUS Best estimate liabilities for fees purposes (BEL) Band Width (£ million of BEL) Fee (£/£m or part £m of BEL) >1 0.74 0.726 A.7 For class 1(C), (2), (3) and (4) firms:
Band Width (£ million of Funds under Management (FuM)) Fee (£/£m of part £m of FuM) >10 0.105 0.084 Class 1(A), (B) and (C) firms are defined in FEES 4 Annex 1AR. A.9 Band Width (£ million of Gross Income (GI)) Fee (£/£m of part £m of GI) >1 80.64 96.57 A.10 Band Width (no. of traders) Fee (£/trader)

FCA 2022/27

1 149.02 125.43
A.13 For class (2) firms
Band Width (£ thousands of annual income (AI)) Fee (£/£ thousand or part £ thousand of AI) >100 0.0515 0.0487 For a professional firm in A.13 the fee is calculated as above less 10%. A.14 Band Width (£ thousands of annual income (AI)) Fee (£/£ thousand or part £ thousand of AI) >100 0.0240 0.0186 A.18 Band Width (£ thousands of Annual Income (AI)) Fee ((£/£ thousand or part £ thousand of AI) >100 0.177 0.1350 A.19 Band Width (£ thousands of Annual Income (AI)) Fee (£/£ thousand or part £ thousand of AI) >100 0.0289 0.0215 CC.2 Minimum fee (£) 10 £ thousands of annual income (AI) Fee (£/£ thousand or part £ thousand of AI >250 0.0691 0.1004
Part 2 TA PI firms and TA RAISP firms
G.3 Minimum fee (£) 10
£ thousands or part £ thousand of
Relevant Income
Fee (£/£thousand or part £ thousand of Relevant Income) >100 0.0230 0.0262
Part 3 TA EMI firms
G.10 Minimum fee (£) 10
£ million or part £m of average outstanding electronic money (AOEM) Fee (£/£m or part £m of AOEM) >5.0 2.62 2.472

FCA 2022/27
Part 4
(1) This Part sets out the minimum TPR SFGB money advice levy applicable to the TPR firms specified in (3) below. (2) The minimum TPR SFGB money advice levy payable by any firm referred to in (3) is £10. (3) A TP firm is referred to in this paragraph if it falls within the following activity groups: A.1; A.2; A.3; A.4; A.7; A.9; A.10; A.13; A.14; A.18; and A.19. 7C
Annex
2R
TPR SFGB debt advice levy for the period from 1 April 2021 2022 to 31 March 2022 2023 This table shows the TPR SFGB debt advice levy applicable to each activity group (fee-block). …
Part 4
This table shows the tariff rates applicable to each of the fee-blocks set out in
Part 1.
Activity group TPR SFGB debt advice levy payable A.2 Home finance providers and administrators Band width (£million of secured debt) Fee (£/£m or part £m of secured debt) >0 28.88 26.15 CC.3 Consumer credit lending Band width (£million of value of lending) Fee (£/£m or part £m of value of lending) >0 (Note 1) 163.44 167.76 Note (1) Credit unions and community finance organisations do not pay any TPR SFGB debt advice levy on the first £2,000,000 of value of lending. 7C
Annex
3R
TPR SFGB pensions guidance levy for the period 1 April 2021 2022 to 31 March 2022 2023 This table shows the TPR SFGB pensions guidance levy applicable to each activity group (fee-block).

FCA 2022/27
Activity group TPR SFGB pensions guidance levy payable TP firms A.1 Band width (£ million of modified eligible liabilities (MELs)) Fee (£/£m or part £m of MELS) >10 1.337 3.239 A.4 Gross written premium for fees purposes (GWP) Band Width (£ million of GWP) Fee (£/£m or part £m of GWP) >1 37.80 90.49 A.7 For class 1(B), 1 (C), (2) and (3) firms:
Band width (£ million of funds under management (FuM)) Fee (£/£m or part £m of FuM) >10 0.4363 1.0201 A.9 Band width (£ million of gross income (GI)) Fee (£/£m or part £m of GI) >1 310.37 574.63 A.13 Band width (£ thousands of annual income (AI)) Fee (£/£ thousand or part of £ thousand of AI) >100 0.0779 0.1682

FCA 2022/27
7D Temporary Permissions Regime (TPR) – Devolved Authorities levy … 7D Annex 1R TPR DA levy for the period from 1 April 2021 2022 to 31 March 2022 2023 …
Part 1
…
Part 4
This table shows the tariff rates applicable to each of the fee-blocks set out in
Part 1.
Activity group TPR DA levy payable
A.2 Home finance providers and administrators Band width (£ million of secured debt) Fee (£/£m or part £m of secured debt) >0 4.748 3.791 CC.3 Consumer credit lending Band width (£ million of value of lending) Fee (£/£m or part £m of value of lending) >0 (Note 1) 26.88 24.33 Note (1) Credit unions and community finance organisations do not pay any TPR DA levy on the first £2,000,000 of value of lending. … 13 Illegal money lending levy … 13 Annex 1R Illegal money lending (IML) levy for 2021/22 2022/23 Limited permission (fee-block CC1):
£5 flat rate

FCA 2022/27
Full authorisation
(fee-block CC2):
Up to £250,000 consumer credit income:
£10
Over £250,000 consumer credit income:
£10 + 0.240 0.270 per £1,000
…
13A Temporary Permissions Regime (TPR) and Financial Service Contracts Regime (FSCR) - Illegal money lending levy … 13A
Annex
1R
TPR illegal money lending (IML) levy for 2021/22 2022/23 Activity group Description Fee (£) Activity group CC2. Credit￾related regulated activities:
Up to
£250,000 consumer credit income:
Over
£250,000 consumer credit income:
10 + £0.240 £0.270 per £1,000
…
App 2 Office for Professional Body Anti-money laundering Supervision fees … App 2
Annex 2
Periodic fees imposed under Regulation 27 of the OPBAS Regulations: tariff base, review date, tariff rates …
Part 3
This table sets out the tariff rates applicable to professional body supervisors.

FCA 2022/27
Fee payable in relation to 2021/22
2022/23
Amount payable (£)
Minimum fee, payable by all professional body supervisors subject to the OPBAS Regulations. £5000 £5,310 Variable fee, payable by professional body supervisors where the number of supervised individuals is 6,000 or more. £32.83 £35.19 multiplied by the total number of supervised individuals in excess of the threshold of 6,000. [See Note] [Note: reference to “the number of supervised individuals” is to those supervised individuals calculated in accordance with Part 1.] … App 3 Fees payable by persons registered under the Money Laundering Regulations that are not cryptoasset businesses App 3.1 Fees for persons registered under the Money Laundering Regulations that are not cryptoasset businesses … App 3.1.2 (1) Registration fee:
£100
(2) Periodic fee:
Activity group
Fee-payer falls in the activity group if:
Fee payable in
2021/22
2022/23
G.1 it is registered with the FCA under the Money Laundering Regulations or any predecessor legislation and it is not an authorised person or a cryptoasset business or otherwise registered with the FCA. £1,000 £1,062 [Note: Regulation 102 of the Money Laundering Regulations]

FCA 2022/27
App 4 Fees payable by cryptoasset businesses registered under the Money Laundering Regulations … [Note: Regulation 102 of the Money Laundering Regulations] (1) This table sets out the tariff base relating to the fee-block for cryptoasset businesses registered with the FCA under the Money Laundering Regulations. The tariff base in this Part is the means by which the FCA calculates the annual periodic fee payable to it by a cryptoasset business registered with the FCA under the Money Laundering Regulations. Fee-block Fee-payer Tariff base Valuation date G.23 Cryptoasset business registered with the FCA under the Money Laundering Regulations Annual income, as defined in FEES Appendix 4
Annex 3
The business’s financial year ended in the calendar year ending 31 December before the start of the period to which the fee applies (2) This table sets out the tariff rates applicable to cryptoasset businesses registered with the FCA under the Money Laundering Regulations. Tariff rates in relation to 2021/22 2022/23 Fee payable Amount payable Minimum fee, payable by all cryptoasset businesses £[] £2,000 Variable fee, payable in addition to the minimum fee, on income above £100,000 £[] £4.03 per £1,000 or part-£1,000 App 4
Annex 2
Periodic fees payable by cryptoasset businesses registered under the Money Laundering Regulations

© Financial Conduct Authority 2022
12 Endeavour Square London E20 1JN
Telephone: +44 (0)20 7066 1000
Website: www.fca.org.uk
All rights reserved
Pub ref: 007890