Proposed 2021 Statutory Instrument: Supervisory Levies for Non-Bank Financial Institutions

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NON-BANK FINANCIAL INSTITUTIONS REGULATORY AUTHORITY ACT (Cap.46:08) NON BANK FINANCIAL INSTITUTIONS REGULATORY AUTHORITY ACT (SUPERVISORY LEVIES AND LICENSING FEES PROPOSAL 2020) FIRST SCHEDULE SUPERVISORY LEVIES (Regulation 2) First column Second column Non-bank financial institution Supervisory levies 1.Asset Managers (excluding International Financial services Centre Asset Managers) P36, 691 and 0.0230% per annum of the total values of investments managed by an Asset Manager at the end of each month of the financial year. 2.Central Securities Depositories P220,111 3.Securities Exchanges P220,111 4.Custodians of Collective Investment undertakings P73,376 5.Insurance Brokers P14, 680 and 0.1755% of the gross commissions received as reported in their most recently audited financial statements. 6.Insurance Companies P73, 376 and 0.1755% of the gross premiums written, as reported in their most recently audited financial statements. 7.Corporate Insurance Agents P7,167 8.International Financial Services Centre companies P40,354 9.Management Companies of Collective Investment Undertaking P36, 691 and 0.0230% per annum of the total value of the Assets controlled by a management company in respect of each scheme at the end of each month of the financial year.

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10. Micro lenders
10.a. Average loan book values above P1,000,000 10.b. Average loan book values up to P1,000,000

0.702% per annum of a micro lenders total loan book at the end of each month at the financial year. P7, 018 per annum
11. Transfer Agents/ Transfer Secretaries. P12,100
12. Trustees of Collective Investment
Undertakings
P77, 376
13. Central Counter Party P220, 111
14. Pawnshops
14.a. Average loan book values above P1,000,000 14.b. Average loan book values up to P1,000,000 0.702% per annum of a micro lenders total loan book at the end of each month at the financial year. P7, 018 per annum
15. Retirement Funds P292 and P19 in respect of each member at the
end of each financial year 16.Participants/ Market Maker P 33,358 17.Security Brokers/ Dealers P 66,704 18.Medical Aids Funds

P7, 337 AND P20 in respect of each member at the end of each financial year.
19. Finance & Leasing Companies
19.a. Average loan book values above P1,000,000

19.b. Average loan book values up to P1,000,000 P6,380 per annum 0.702% per annum of a micro lenders total loan book at the end of each month at the financial year. P7, 018 per annum

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20. Retirement Fund Administrator P8,069 and P666 per fund
21.Investment Advisors P9,086 per annum