RegAlertRule · FCA · 23 Nov 2016
PS17/17: PSR regulatory fees 2017/18
The Financial Conduct Authority and the Payment Systems Regulator apply the 2017/18 fee rates as consulted on for PSR regulatory fees. Operators must issue invoices to direct members, acquirers, and card issuers from July 2017 and pay the PSR all collected monies by 1 October 2017. Direct PSP members, including acquirers and card issuers, must pay operators their regulatory fees by 15 September 2017. The PSR will refund £4.2 million to fee payers for the 2016/17 underspend.
This document sets our final decision, in conjunction with the Payment Systems Regulator (PSR), on the rates for PSR regulatory fees for 2017/18.
Show PS17/17
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In March 2017 we consulted on our proposals
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(CP17/9) for these rates and also confirmed how our fees will be calculated and collected. This document:
Answers questions about how fees for the PSR’s functions and activities under the Financial Services (Banking Reform) Act 2013 (FSBRA) and the EU Interchange Fee Regulation 2015 (IFR) will be allocated, calculated and collected. Summarises the responses we received in our March consultation and our feedback on them. Having considered all the submissions to our March consultation we have decided to apply the 2017/18 fee rates as consulted on. The individual operator fee rates can be found in Annex 1 of this document. The PSR had an underspend for 2016/17 and will refund £4.2 million to fee payers for that year. Who this applies to This consultation is relevant to participants in regulated payment systems under FSBRA, IFR regulated persons and PSPs which operate in the UK. Next steps We set out below what is expected of each stakeholder affected by this policy statement:
Who?
Action
Timeline
Operators
Issue invoices for the 2017/18 PSR regulatory fees to their direct members, acquirers and card issuers operating in the UK, in accordance with the calculation methodology and instructions set out in the fees rules. From July 2017. Provide the PSR with their fee calculations for individual invoices and the underlying transaction volumes data. As soon as possible. Tell the PSR if any payment is late. By 17 September 2017. Pay the PSR all monies collected. By 1 October 2017. Operators who pay their fees themselves Invoice themselves and pay the PSR. By 15 September 2017. Direct PSP members Acquirers Card issuers Pay operators their regulatory fees for each invoice the receive. By 15 September 2017.
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- Financial Services (Banking Reform) Act 2013Not in RegAlert
“Answers questions about how fees for the PSR’s functions and activities under the Financial Services (Banking Reform) Act 2013 (FSBRA)”
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