Regulatory Alerts2016-09-07
Added · Updated
FCA Regulated fees and levies: Insurers’ tariff data for 2017/18
The Financial Conduct Authority proposes a 12-month transitional provision for calculating FCA periodic fees and Financial Ombudsman Service annual levies for the 2017/18 fee year. This approach requires that tariff data for both directive and non-directive insurers be based on the same figures used for the 2016/17 calculation, specifically data from the firm’s financial year ending in 2015. The proposal includes adjustments for firms undergoing Part VII transfers or entering run-off, with notifications and resubmissions required by 28 February 2017. This consultation seeks comments on these draft rules by 9 November 2016.
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