PS23/10: FCA regulated fees and levies 2023/24

Policy Statement
PS23/10
FCA regulated fees and levies
2023/24: with feedback on CP23/07 and ‘made rules’ July 2023

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This relates to
Consultation Paper 23/7 which is available on our website at www.fca.org.uk/publications Telephone:
0207 066 5406
Email:
cp23-7@fca.org.uk
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1. Summary 3
2. FCA periodic fees 8
3. Fees policy clarifications 22
4. Financial Ombudsman Service general levy 24
5. Levies collected on behalf of government
   departments 26
   Annex 1
   Non-confidential respondents 32
   Annex 2
   Abbreviations used in this paper 33
   Appendix 1
   Made rules – Legal instrument

3
Chapter 1
Summary
Introduction
1.1 We are publishing the 2023/24 periodic regulatory fees and levies for the:

• Financial Conduct Authority (FCA)
• Financial Ombudsman Service
• levies collected on behalf of government departments
  1.2 We are also publishing our feedback on the responses to the consultation on draft fees
  and levies rules in CP23/7 ‘FCA Regulated fees and levies: Rates proposals 2023/24’, published on 5 April 2023. The consultation period closed on 11 May 2023. We received 20 responses. 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 1.1 sets out the fee￾payers likely to be affected by each chapter.
  Table 1.1 Fee-payers likely to be affected by each chapter in this PS
  Issue Fee-payers likely to be affected Chapter FCA periodic fee-rates All FCA fee-payers 2 FCA application fees All firms authorised or registered by the FCA or considering authorisation or registration 1 Fees policy clarifications Proxy advisors, credit unions, community finance organisations 3 Financial Ombudsman Service: general levy rates Firms subject to the Financial Ombudsman Service general levy 4

4
Issue Fee-payers likely to be affected Chapter Money guidance levy Authorised firms, payment institutions, electronic money issuers, all consumer credit firms (fee-blocks CC.1 and CC.2) 5 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) Economic crime levy All firms registered with the FCA under the Money Laundering Regulations The wider context
1.4 Our annual fees consultation covers this 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 through a Handbook Notice or in the April Consultation Paper (CP).
• 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.
• April – we consult on FCA periodic fees rates for the coming 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 Money and Pension Service levy (MaPS – referred to in the FEES handbook as the Single Financial Guidance Body), and the devolved authorities and illegal money-lending levies.
• June or July – we publish feedback in a policy statement on responses received to
  the April consultation, along with final fees and levy rates. Annual funding requirement (AFR)
  1.5 Our fees enable us to recover the costs of delivering our priorities and achieving our
  objectives, as set out in the annual Business Plan.

5
1.6 Our 2023/24 Business Plan presented our priorities for the coming year and how we
plan to achieve our objectives. It also set out the funding required to ensure that we are properly resourced to manage our expanding remit, to cover inflationary pressure and to meet the policy opportunity provided by the transfer of previously retained EU financial services law into our regulation. Our CP on fee-rates (CP23/7), published alongside the business plan, showed how we proposed to distribute recovery of this annual funding requirement (AFR) between fee-payers. The business plan set the AFR at £684.2m but it has subsequently been reduced by credits of £2.5m to £681.8m. We explain the credits and identify the fee-blocks affected in paragraph 2.2. We are making no other changes to our consultation proposals. Table 1.2 shows the final breakdown of the AFR for 2023/24.
Table 1.2: Comparison of AFR for 2023/24 with AFR for 2022/23
2023/24
Actual
2022/23 Movement
£m %
ORA baseline budget 664.4 617.4 47.0 7.6% Minimum fee adjustment (i) -9.1 -9.1 0.0 0.0% Appointed representative adjustment (i) -0.1 -0.1 0.0 -0.0% Extensions of regulatory responsibility 1.2 10.4 -9.2 -88.5%

• Pre-paid funeral plans 0.7 0.0 0.7 -
• Pensions dashboard 1.5 0.0 1.5 -
• Financial promotions 1.8 2.4 -0.6 -25.0%
• Cryptoasset business -0.3 8.0 -8.3 -103.8%
• SM&CR -0.9 0.0 -0.9 -
• Claims Management Companies -1.6 0.0 -1.6 -
  Exceptional projects 25.3 12.3 13.0 105.7%
• Future Regulatory Framework 12.7 0.0 12.7 -
• Consumer Duty 5.3 0.0 5.3 -
• Transformation programme 5.0 10.0 -5.0 -50.0%
• Consumer harm campaign 2.3 2.3 0.0 0.0%
  Total AFR 681.8 630.9 50.9 8.1%
  Financial penalty rebate 52.5 49.4 3.1 6.3% Fees payable 629.3 581.5 47.8 8.2% (i) Reductions in AFR carried forward from 2022/23 due to deferral of staged increase in minimum fees for the A and consumer credit fee-blocks and not uplifting flat-rate fee for appointed representatives

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1.7 We are able to reduce the total amount collectable through fees by retaining sufficient
revenues from financial penalties to cover our 2022/23 enforcement costs. We apply these as a rebate against the following year’s fees and pay the balance to the Treasury. When we published CP23/7, we estimated the revenue from financial penalties at £50.3m. We are now able to confirm it at £52.5m. Table 2.3 shows the impact on fee￾blocks. What we are changing
1.8 Following our consultation through CP23/7, we are setting the fee and levy rates for
2023/24, replacing the charges for 2022/23, to recover our costs. We received 20 responses. Annex 1 has the full list of non-confidential respondents.
1.9 We confirm that:

• We are freezing minimum fees, flat rate fees and application fees. This is intended
  to encourage competition and support firms who are facing inflationary pressures, especially the 17,000 smallest fee-payers who pay minimum fees only. We expect to resume our policy of inflationary increases from next year.
• We have allocated cost recovery between fee-blocks in the proportions described
  in Chapter 2 of the CP.
  1.10 Chapter 2 of this PS sets out the final position on FCA periodic fees, reviews the
  feedback we received and presents our responses. It also presents the final allocation to fee-blocks of revenue from the financial penalties we have imposed on firms.
  1.11 Chapter 3 confirms the clarifications we proposed to the FEES Manual.
  1.12 Chapter 4 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.
  1.13 Chapter 5 reviews the feedback we received and sets out our responses on the levies we
  have been directed to collect by government departments.
  Compatibility statement
  1.14 The rules we have now made are not substantially different from those proposed in
  Appendix 1 of CP23/7.
  1.15 Annex 2 of CP23/7 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.

7
Equality and diversity considerations
1.16 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.

8
Chapter 2
FCA periodic fees
(Final rules in Appendix 1)
2.1 In this chapter we:

• Respond to feedback on Chapter 3 of CP23/7, in which we consulted on draft fee
  rates.
• Highlight changes between the draft fee rates in CP23/7 and the final rates in
  Appendix 1. These are mainly 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 when we consulted and the finalised and validated data used to calculate the final fee rates in Appendix 1 of this PS. There are also some additional credits which we mention in paragraphs 1.7 and 2.2. Summary of consultation proposals AFR allocation across fee-blocks
  2.2 In Chapter 2 of the CP, we explained how we proposed to distribute recovery of our
  costs across fee-blocks. Following consultation, we are not making any changes to the distribution of cost recovery but, as explained in paragraph 1.7, there has been a credit of £2.5m:
• We have credited £1.6m to the claims management company (CMC) fee-block.
  The credit was generated after we reconciled the final cost of bringing CMCs into FCA regulation against a £2.5m payment from the Ministry of Justice when it transferred regulatory responsibility to us. As a result, the AFR for the CMC fee-block has fallen from £2.1m when we consulted to £0.5m. This considerably reduces CMC fees for 2023/24, but we expect their AFR to be similar to the level consulted on from next year.
• There is a £0.9m credit because the final cost of introducing the Senior Managers
  and Certification Regime (SM&CR) was below budget. We have spread it across the fee-blocks which contributed towards recovery of the project costs in 2021/22. The impact on each fee-block is small. The final allocation to fee-blocks is in Table 2.1.

9
Table 2.1: Allocation of 2023/24 AFR across fee-blocks and comparison with 2022/23
AFR allocations to fee-blocks
Proposed
2023/24 £m
Actual
2022/23 £m
Movement
£m Movement %
A.0 FCA minimum fee 25.9 27.2 -1.3 -4.8% AP.0 FCA prudential fee (i) 23.0 21.2 1.8 8.4% A.1 Deposit acceptors (ii) 87.6 81.4 6.2 7.6% A.2 Home finance providers and administrators
21.5 19.9 1.6 8.0%
A.3 Insurers – general (ii) 31.2 28.4 2.9 10.1% A.4 Insurers – life (ii) 53.1 48.7 4.3 8.9% A.5 Managing agents at Lloyd’s (ii) 0.2 0.2 0.0 7.6% A.6 The Society of Lloyd’s (ii) 0.4 0.4 0.0 7.7% A.7 Portfolio managers 53.7 49.7 4.0 8.0% A.9 Managers and depositaries of investment funds, and operators of collective investment schemes or pension schemes
14.3 13.2 1.1 8.0%
A.10 Firms dealing as principal (iii) 62.3 56.4 5.8 10.3% A.13 Advisors, arrangers, dealers, brokers
94.6 86.8 7.8 8.9%
A.14 Corporate finance advisers 17.1 15.9 1.3 8.0% A.18 Home finance providers, advisers and arrangers
21.0 19.1 2.0 10.4%
A.19 General insurance mediation 34.7 31.5 3.3 10.4% A.21 Firms holding client money or assets or both
17.7 16.0 1.7 10.8%
A.22 Principal firms – appointed representatives
6.8 7.1 -0.3 -3.9%
A.23 Funeral Plans 1.7 0.0 1.7 N.A
CC1. Consumer credit–limited permission
9.5 8.8 0.7 8.1%
CC2. Consumer credit–full permission 49.1 45.4 3.7 8.1% CMC01 Claims Management Companies
0.5 1.9 -1.4 -73.7%

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AFR allocations to fee-blocks
Proposed
2023/24 £m
Actual
2022/23 £m
Movement
£m Movement %
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
9.4 8.7 0.7 8.2%
C. Collective investment schemes 3.1 2.9 0.2 7.2%
D. Designated professional bodies and professional body supervisors
2.1 1.9 0.2 8.8%
E. Issuers and sponsors of securities 26.9 24.7 2.1 8.6% 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
12.5 11.7 0.8 6.5%
J.1 Credit rating agencies 1.4 1.3 0.1 7.5% J.2 Trade repositories and J.3 securitisation repositories
0.6 0.5 0.1 10.0%
Total AFR 681.8 630.9 50.9 8.1%
Notes: (i) 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. (ii) Fee-block activities that are dual-regulated by the FCA for conduct purposes and the PRA for prudential purposes. (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. Minimum and flat rate fees
2.3 In Chapter 3 of the CP, we proposed to hold all minimum and flat rate fees at 2022/23
levels to ease pressure, especially on smaller fee-payers, during this period of elevated inflation. Variable periodic fees
2.4 All firms pay minimum fees and the larger ones whose tariff data (fees metric) takes
them above the threshold for a particular fee-block pay variable fees on top of that. Fees are calculated by dividing the AFR for each fee-block by the total tariff data reported by the fee-payers in it. When we consulted in April, we did not have tariff data for all fee-

11 payers and so some of the rates were estimated. Table 3.2 of the April CP set out the tariff data and populations of firms we used for our estimates. Feedback from consultation and our responses
2.5 We received 11 responses to our question on fee-rates and 8 respondents also made
general comments on the CP which were in practice about the fee-rates, so we are taking all of these responses together. Our question was:
Q1: Q1: Do you have any comments on the proposed FCA periodic fee rates for 2023/24?
2.6 The key points raised through consultation are set out below, together with our
responses.
Minimum, flat rate and application fees Feedback
2.7 There was strong support for holding down minimum, flat rate and application fees to
support smaller firms and there were no objections to this proposal. Our response We are holding down minimum, flat rate and application fees this year, but expect to return to inflationary and staged increases from next year. Costs of regulation Feedback
2.8 Some respondents were concerned about what they felt was the increasing cost of
regulation. Others did not feel additional costs all came from additional work. One respondent expressed frustration about the cost of additional responsibilities placed on the FCA, over which it had no control. Our response We are conscious of the overall cost of regulation and seek to manage our resources effectively. We are freezing minimum fees, flat rate fees and authorisation fees, to support in particular small and developing businesses. However, we are – like all organisations – facing higher costs. These increase the resource needed to manage ongoing activity. Additionally, we have an expanding remit and require resource to manage,

12 among other things, the policy implications of transferring retained EU law into our Handbook. Costs attributed to fee-blocks Feedback
2.9 Several respondents commented on the difficulty of understanding whether the
costs attributed to individual fee-blocks truly reflected the FCA resources involved in supervising those activities and whether the costs were equitably distributed. Several said we should review the fee-block structure, one suggesting we should work with the Ombudsman Service to find ways to ensure that the polluter pays. Some asked for risk to be taken into account, one suggesting that we should extend the risk-based approach which had led us to conclude that a headcount of traders in fee-block A.10 (dealers as principal) was no longer a good proxy for the risks presented by trading firms. Our response Our fee-blocks based on permissions provide a framework for distributing cost recovery fairly and rationally between fee-payers and we seek to align these as far as possible with our direct regulatory resources. We have conducted several reviews of our fees structure and, while no model is perfect, we continue to consider that permissions provide an objective measure of the regulated activities firms undertake as a basis for charging fees. We have an established practice for setting the annual funding requirement and continue to review the cost of regulation across all firms, taking account of changes in the industry, population and regulation. We have in the past considered other mechanisms for cost recovery, but concluded a permissions-based fee block approach has critical advantages:

• Permissions represent firms’ own business decisions, they are within
  firms’ control and they change as firms’ businesses evolve.
• Fees based on permissions give firms reasonable stability from year to
  year, avoiding the volatility that would be built into the system if we linked fees to factors like risk or FCA thematic priorities which are inevitably subject to changes that are outside firms’ control.
• We are reviewing continued use of the headcount of traders in fee￾block A.10 for several reasons beyond risk. In particular, with increasing
  reliance on technology and trading algorithms, a headcount is no longer a reliable indicator of activity.
• The overwhelming majority of firms are compliant so a ‘polluter
  pays’ fees model would provide a narrow and unstable base for cost recovery. There is an element of polluter payment in our fees system since we cover our enforcement costs by retaining the penalties paid by firms which have been fined. This reduces the fees for the rest of

13 the population. Effective FCA regulation to maintain market integrity is an important pillar of public confidence. It helps to make the UK an attractive and competitive place to do business and it is reasonable that all market participants should contribute towards this. Outcomes within fee-blocks Feedback
2.10 Several respondents commented on apparent discrepancies in fee-block allocations
and unexpected outcomes within fee-blocks. One expressed surprise that reductions in activity increase the fees within a fee-block, whereas one would expect to see a proportionate decline over time in the supervisory resources. For example, the fees for general insurers in fee-block A3 were due to increase by 10.1% although the number of firms had reduced by 3.2%. Comparing across fee-blocks, the overall FCA inflation rate was 8.5% at the time we consulted, but the increase in costs for insurers in fee-blocks A3 (10.1%) and A4 (8.9%), general insurance intermediaries in fee-block A19 (10.4%) and home finance intermediaries in fee-block A18 (10.4%) were all above the FCA rate, whereas the increase for deposit takers in fee-block A1 was below inflation at 7.6%. The AFR for fee￾block D.1 increased by only 8.8%, whereas the fee-rate had increased by 14.6%. Our response Changes in data can impact on fee-blocks and the level of fees firms in these blocks are required to pay. When there is a reduction in the number of firms or the volume of activity, that will push fee rates up, as was noted in the case of fee-block A.3 and vice versa. In fee-block D.1, the higher fee rate was caused by the freezing of the minimum fee, which pushed additional costs on to the variable rate fee-payers. Since consulting, we now have finalised data figures for D.1. The total tariff data reported by fee-payers has reduced by 9.2%, leading to a 25.5% increase in fee rate. However, as that rate is applied to lower tariff data, the average fee increase for each firm is only 3.9%. A nominally higher fee rate does not necessarily translate into a corresponding rise in fees, which we continue to apportion proportionately by firm size. The allocations to fee-blocks include their share of various costs and in some cases credits, as the reduced AFR for the CMC fee-block illustrates. Fee-block A.1 (deposit acceptors) saw an increase of 3% in its AFR for 2022/23, mainly because it was contributing towards the costs of the cryptoassets project. Insurers did not contribute, so in 2022/23 fee-block A.3 (general insurers) had an increase of 0% and A.4 (life insurers) 2.1%. This year, A.1 is no longer paying for cryptoassets so that reduction is set against its AFR along with a small credit due to over-recovery last year. So, its increase is only 7.6%.

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Data relating to fee blocks A4 and A22
Feedback
2.11 A respondent questioned the increase in the number of firms in fee-block A4 (life
insurers), which did not reflect wider experience of industry. Another suggested the number of appointed representatives (ARs) in fee-block A.22 was overstated and another questioned whether there was unfair cross-subsidy between the revenue from fee-block A.22 and other fee-blocks. Our response The number of life insurers in fee-block A.4 increased through the inclusion of funeral plan (FP) providers. The fee-block definition, which predates the new regulatory regime for FP firms, captures life insurers who used to provide funeral plans. This category is now obsolete but it unexpectedly pulled FP providers into the fee-block. We will consult in the autumn on amending the definition of A4 to exclude FP firms. Meanwhile, we do not intend to charge FP providers under A.4. Any firm with concerns should contact the FCA Fees Helpline for advice. Now that we have validated data, we can confirm that there was in fact a fall of 4.1% in the number of ARs in fee-block A.22. This does not affect the fee since principals are charged a flat rate per AR, so it reduces the AFR for that fee-block. We are keeping our costs and revenues under review to avoid cross-subsidy. Building societies Feedback
2.12 While acknowledging our decision in 2020 not to decouple building societies from the A1
fee-block, one respondent made the argument that building societies operate lower risk business models than other deposit takers. Our response We note building societies’ continuing interest in being decoupled from other deposit acceptors in fee-block A.1. We reviewed the position in July 2020 and again in June 2022. Our view remains that permissions provide a neutral and consistent basis for defining fee-blocks. Modifying them through an assessment of risk would compromise that principle and could introduce an element of volatility as our risk assessments evolved over time.

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Minimum fee threshold
Feedback
2.13 One respondent invited us to consider increasing, in line with inflation, the £100,000
minimum fee-threshold in many fee-blocks, as it has been static since it was introduced. Our response We have noted this suggestion. Lighter touch regulatory regime for small business advisers Feedback
2.14 A sole trader and independent financial adviser made some suggestions which would
indirectly lower fees but were aimed at streamlining regulation. For example, there should be a lighter touch regulatory regime for small business advisers with turnover under £100,000 and only 1 registered individual – or even that such firms should be removed from FCA regulation and brought into a system of self-regulation. They also had suggestions about reducing data requirements for small firms. Our response Our minimum fee structure already protects smaller fee-payers. Although we have frozen minimum fees this year, our objective remains to align them with the minimum cost of being regulated and we believe this would establish a reasonable balance in the structure of our fees. We already operate a more streamlined regime for smaller fee-payers but we do not agree that we should reduce their regulatory requirements. For example, the majority of claims under the Financial Services Compensation Scheme (FSCS) come from relatively small firms. We note the suggestions for further improvements and are following them up directly with the respondent. OPBAS (Office of Professional Body Anti-Money Laundering Supervisors) Feedback
2.15 We received comments from 5 professional body supervisors (PBSs). Three supported
the freezing of the minimum fee and 2 stressed the importance of the minimum levy structure in limiting what would otherwise be a major imbalance against the smallest supervising firms and sole practitioners.

16
2.16 Two respondents raised concerns over undue reliance on the largest PBSs for OPBAS
funding, with 1 arguing that this structure resulted in a disproportionate share of the costs falling to the few largest PBSs, generating higher membership charges for their supervised firms, many of which are small. One PBS called for a full review of the OPBAS levy in the light of the AML supervision reform to address funding disparities.
2.17 One raised concerns about lack of transparency in justifying the costs – and increases
in costs – for OPBAS, and called for a separate published OPBAS business plan to allow scrutiny of the costs. Our response The powers of OPBAS, including the power to recover its costs through a levy, fall outside FSMA and we ring-fence its costs and revenues. This means that OPBAS is less expensive than it would have been if it had been established as a separate legal entity because it benefits from the FCA’s economies of scale. There is a close working relationship between OPBAS and the PBSs it oversees and regular round-up meetings provide opportunities for PBSs to raise questions about the way OPBAS works. We established the structure of the OPBAS levy after extensive consultation and have no plans at present to review it. However, the forthcoming Treasury’s review of the AML supervision regime will present an opportunity to consider the issue of the OPBAS levy in the context of funding of the optimal AML supervision model. Final variable fee rates
2.18 The final fee-rates are in Appendix 1 of this PS and Table 3.3 of the CP is a look-up guide
to the appropriate FEES references.
2.19 We highlighted in CP23/7 that the draft fee rates and levies were calculated using
estimated fee-payer populations and data. We explained that these may change by the time we set the final fee rates. Table 2.2 shows the final figures for firm populations and the tariff data which we have used to calculate the final rates in Appendix 1. Some are different from the estimated figures in Table 3.2 of CP23/7.

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Table 2.2: Data used to calculate final fee rates and year-on-year movement in actual fee
rates between 2022/23 and 2023/24
Fee block Tariff base
Number of firms in fee-blocks Tariff data 2023/24 2022/23 Actual (i) Change 2023/24 2022/23 Actual (i) Change Change in rates A.1 Modified eligible liabilities 728 746 -2.4% £3,902.6bn £3,706.6bn 5.3% 2.1% A.2 Number of mortgages or other home finance transactions 413 446 -7.4% £6.8m £6.9m -0.8% 9.3% A.3 Gross written premium 306 312 -1.9% £81.8bn £72.8bn 12.5% -2.1% Best estimate liabilities £144.3bn £139.8bn 3.2% 13.2% A.4 Gross written premium 172 150 14.7% £133.3bn £132.5bn 0.6% 8.2% Best estimate liabilities £1,335.2bn £1,554.4bn -14.1% 26.7% A.5 Active capacity 58 57 1.8% £48.7bn £39.7bn 22.9% -14.5% A.7 Funds under management 2,782 2,819 -1.3% £11,302.8bn £11,986.2bn -5.7% 13.6% A.9 Gross income 1,318 1,338 -1.5% £15.1bn £14.8bn 2.0% 5.4% A.10 Traders 411 440 -6.6% 8,201 8,454 -3.0% 16.6% A.13 Annual income 11,040 11,651 -5.2% £38.9bn £35.5bn 9.8% -1.0% A.14 Annual income 784 803 -2.4% £11.2bn £11.3bn -1.0% 8.9% A.18 Annual income 5,428 5,578 -2.7% £2.3bn £2.1bn 7.9% 3.8% A.19 Annual income 12,183 12,588 -3.2% £20.5bn £19.1bn 7.4% 2.0% A.21 Client money 1,035 1,042 -0.7% £231.7bn £185.9bn 24.6% -8.8% Assets held £18,999.6bn £19,458.3bn -2.4% 11.0% A.22 Appointed Representatives 2,897 3,266 -11.3% 34,924 36,425 -4.1% 0.0% A.23 Funeral plans 255 n.a. n.a. £222.5m n.a. n.a. n.a.

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Fee block Tariff base
Number of firms in fee-blocks Tariff data 2023/24 2022/23 Actual (i) Change 2023/24 2022/23 Actual (i) Change Change in rates CC1. Annual income 20,764 21,780 -4.7% £2.6bn £2.0bn 28.0% 8.8% CC2. Annual income 12,296 12,920 -4.8% £26.6bn £24.7bn 7.7% 8.8% CMC Annual income 511 579 -11.7% £155.1m £209.0m -25.8% -89.3% AB01 Annual income 10 11 -9.1% £263.8m £338.8m -22.2% 23.8% BU01 Annual income 6 6 0.0% £805.3m £691.1m 16.5% -9.1% B002 Annual income 52 58 -10.3% £753.2bn £552.2m 36.4% -27.3% B005 Annual income 37 35 5.7% £2,194.0m £1,959.6m 12.0% -8.9% C007 (ii) Number of funds 343 394 -12.9% 10,845 10,753 0.9% -53.7% C009 (ii) Number of funds 6 6 0.0% 22 104 -78.8% -54.5% D001 Exempt professional firms 10 10 0.0% 6,920 7,623 -9.2% 25.5% D002 Supervised individuals 22 22 0.0% 84,891 88,030 -3.6% 9.8% E002 Market capitalisation 742 785 -5.5% £2,338.2bn £2,372.0bn -1.4% 45.7% G002 Modified eligible liabilities 332 337 -1.5% £3,886.1m £3,686.7bn 5.4% 5.9% G003 Relevant income 646 717 -9.9% £7,724.5m £6,525.3m 18.4% -7.7% G010 Average outstanding electronic money 269 290 -7.2% £13,821.5bn £10,090.0m 37.0% 16.4% G015 Fee for first programme 13 13 0.0% 13 14 -7.1% 16.1% Issuances £14,162.2bn £8,221.8m 72.3% -36.3% G025 Annual incomer 7 11 -36.4% £45.1m n.a. n.a. n.a.

19
Fee block Tariff base
Number of firms in fee-blocks Tariff data 2023/24 2022/23 Actual (i) Change 2023/24 2022/23 Actual (i) Change Change in rates G030 Annual incomer 40 51 -21.6% £146.3bn £726.4m -79.9% 225.1% J1 Applicable turnover 12 13 -7.7% £560.1m £681.7m -17.8% 45.2% J2 Applicable turnover 4 4 0.0% £48.6bn £45.8m 6.1% 4.7% J3 Applicable turnover 2 2 0.0% £1.1m £.7m 59.2% 4.7% Notes:
(i) ‘Actual’ refers to the data as set out in Table 2.3 of PS22/07, published in July 2022. (ii) C007 & C009: We collected £600k more in 2022/23 than we anticipated and so we are crediting against the 2023/24 fees. Consequently, although the AFRs have increased, the rates for 2023/24 have decreased.
2.20 As explained in paragraph 1.7, the amount we collect under the AFR is reduced by
the penalty revenues retained from 2022/23. We are now able to confirm the total at £52.5m, compared to our estimate of £50.3m when we consulted in April 2023. The financial penalty scheme is explained more fully in Annex 3 of our April 2022 CP. Table 2.3 shows the impact of retained penalties on fee-blocks. We are distributing them in the same proportions as when we consulted.

20
Table 2.3: Final schedule of retained penalties in 2023/24
Fee-block
2022/23 retained penalties to be applied to benefit of fee-payers (£m) Rebate applied to 2023/24 fees AP.0 FCA prudential 0.0 0.0% A.1 Deposit acceptors 8.3 9.7% A.2 Home finance providers and administrators
0.9 4.1%
A.3 Insurers − general 1.7 5.4%
A.4 Insurers − life 3.0 5.8%
A.5 Managing agents at
Lloyd’s
0.0 0.0%
A.6 The Society of Lloyd’s 0.0 0.0%
A.7 Portfolio managers 12.2 23.3%
A.9 Managers and depositaries of investment funds, and operators of collective investment schemes or pension schemes
1.9 14.0%
A.10 Firms dealing as principal
6.7 11.0%
A.13 Advisory arrangers, dealers or brokers (not holding or controlling client money or assets, or both)
4.5 4.8%
A.14 Corporate finance advisors
2.0 12.3%
A.18 Home finance providers, advisers and arrangers
3.4 16.6%
A.19 General insurance mediation
3.0 9.0%
A.21 Firms holding client money or assets or both
3.4 19.8%
A.22 Principal firms – appointed representatives
0.0 0.0%
A.23 Pre-paid funeral plan providers and intermediaries
0.0 0.0%

21
B. Recognised investment exchanges, operators of multilateral trading facilities and recognised auction platforms (only)
0.0 0.0%
CC1 Consumer credit – limited permission
0.0 0.0%
CC2 Consumer credit – full permission
0.0 0.0%
E. Issuers and sponsors of securities
1.6 6.0%
G.1 Persons registered under the Money
Laundering, Terrorist
Financing and Transfer of
Funds (Information on the
Payer) Regulations 2017
0.0 0.0%
G.2, G.3, G.4, G.5 Firms under the Payment Services Regulations 2017
0.0 0.0%
G.10, G.11 Firms under the Electronic Money Regulations 2011
0.0 0.0%
G.20, G.21 Firms under the
Mortgage Credit Directive
Order 2015
0.0 0.0%
G.25 Firms under the Data
Reporting Regulations 2017
0.0 0.0%
G50 Proxy advisors 0.0 0.0%
Total 52.5
2.21 Firms can use our online fees calculator to calculate their individual fees based on the
final rates in Appendix 1 of this PS.

22
Chapter 3
Fees policy clarifications
(Final rules in Appendix 1)
3.1 In this chapter, we confirm the proposals we consulted on in CP23/7 and explain 2
technical adjustments we have subsequently made to the FEES Manual. The amended rules are in Appendix 1. Consultation proposals
3.2 We consulted on 2 fees policy clarifications. We received 3 responses, all supporting our
proposals, and so we have made the rules as consulted on. Our consultation question was:
Q2: Do you have any comments on the 2 clarifications we are proposing for the FEES Manual?
3.3 The clarifications were:

• Proxy advisors: We have moved the flat rate fee of £5,000 to FEES 4 Annex 11R
  and created fee-block G50 to make it easier to find.
• Variations of permission (VoP) for credit unions and community finance
  organisations (CFOs): We have deleted FEES 3 Annex 16 Part 5(c) because the references to credit unions were incorrect and the correct charges are set out in FEES 3 Annex 1, while the references to CFOs were unnecessary. Technical adjustments
  3.4 We have made 2 technical adjustments:
• Minimum fees for pre-paid funeral plans: In FEES 4 Annex 1A, we have removed
  the rule which excluded pre-paid funeral plan (FP) firms from payment of their minimum fee in fee-block A.0. When we consulted on the structure of periodic fees for FP firms in April 2021 and made the rules creating fee-block A.23 for them in July 2021, we explained that firms in the A fee-blocks pay only 1 minimum fee, in fee-block A.0, no matter how many fee-blocks they fall into. If a firm’s tariff data takes it above a set threshold in any particular fee-block, it also pays a variable fee. We set the minimum fee threshold for A.23 at £100,000 of regulated FP activity. Because the full population of FP firms was not authorised by the beginning of the 2022/23 financial year, we deferred cost recovery to 2023/24. We accordingly left the variable fee-rate blank and excluded FP firms from paying the A.0 minimum fee.

23
When we consulted on the variable fee-rate for FP firms in CP23/7, we did not remove the exemption. This would have meant that FP firms did not pay minimum fees and those with incomes up to £100,000 would make no contribution towards our costs. Their share would instead be picked up through increased fees for other variable fee-payers. This would not have been fair and was never our intention. We have accordingly deleted the exemption so that, as consulted on, FP firms pay the same minimum fee as all firms in the A fee-blocks.

• Updating registration fee for firms registering with us under the Money
  Laundering Regulations: We have updated FEES Appendix 3.1.2 to show the correct (Category 1 – £250) charge for firms registering under the MLRs in fee￾block G.1. When we consulted on the new structure of application fees in CP20/22,
  Table 2.2 showed that these charges were proposed for Category 1 and when we
  introduced the charges in PS22/1, Annex 1 confirmed that they had been set as Category 1. However, the charge had been left at the incorrect amount of £100 in the Handbook, so we have uprated it to Category 1 as originally consulted on in 2020.

24
Chapter 4
Financial Ombudsman Service general levy (Final rules in Appendix 1 – FEES 5 Annex 1R)
4.1 In this chapter we provide feedback on the responses to Chapter 6 of CP23/7. In that
chapter, we consulted on the 2023/24 fee rates for firms in the compulsory jurisdiction
(CJ) of the Financial Ombudsman Service (Ombudsman Service) and set out the proposed fee rates for firms in each industry block. Summary of consultation proposals
4.2 The Ombudsman Service presented its final budget to the FCA Board in March 2023.
The Board approved the Ombudsman Service’s total cost base of £234.2m for 2023/24 (down from a total cost base of £291.7m in 2022/23). Income under the budget comes from the annual levies payable for the CJ and voluntary jurisdiction (VJ), and case fees. The Ombudsman Service has included a breakdown of its budget in its 2023/24 plans and budget publication.
4.3 The CJ levy only applies to firms covered by the CJ and 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 Ombudsman Service. However, firms who do not deal with eligible complainants (see DISP 2.7.3R) can, by written notification to us, claim exemption from the rules relating to the funding of the Ombudsman Service (see DISP 1.1.12R).
4.4 The Ombudsman Service consulted on its 2023/24 budget in December 2022. This
included its proposal to keep the CJ levy at £106m.
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? Feedback from consultation and our response
4.5 We received a total of 5 responses, all from trade bodies.
4.6 It is important to note that the Ombudsman Service publicly consults 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

25 by the FCA Oversight Committee on behalf of the FCA Board, which, under FSMA, is required to approve the final budget.
4.7 As part of this process, the Ombudsman Service gives us a summary of consultation
feedback and sets out how it has responded to stakeholders in its final budget document. The Ombudsman Service publishes the budget consultation and final budget document on its website.
4.8 Because the Ombudsman Service’s annual income requirement and overall CJ levy and
case fee split is determined by this process, our rates consultation is concerned only with the apportionment of the levy across the different fee-blocks.
4.9 So we have only addressed the comments we received that are within the scope of the
FCA rates consultation. Our responses to these are set out below. We have shared the feedback that falls within the scope of the Ombudsman Service’s budget consultation with the Ombudsman Service. Specifically, feedback on the decision to set the CJ levy to recover the Ombudsman Service’s fixed costs and keep the annual non-chargeable case allowance at 3 cases. Feedback
4.10 Of the responses within the scope of our fee rates consultation, one respondent
commented on the fairness of the increase in contribution to the CJ Levy made by consumer credit firms from 27.5% to 37%. Another respondent commented on the reduction in the levy payment that would be made by the building societies industry block in 2023/24 compared to 2022/23. Our response The way the Ombudsman Service apportions the CJ levy across the different industry blocks reflects the demand it expects to be placed on its resources by complaints arising from each industry block.

26
Chapter 5
Levies collected on behalf of government departments (Final rules in Appendix 1)
5.1 In this chapter, we set out the final 2023/24 funding requirements for the levies we
collect on behalf of government departments and give feedback on the responses we received to Chapter 7 of CP23/7. The final rates are in Appendix 1. The levies are set out below.

• Money and Pensions Service (MaPS) levies
  – Money guidance in the UK
  – Debt advice in England
  – Pensions guidance in the UK
• Devolved Authorities debt advice levies
• Illegal money lending (IML) levy
  5.2 In addition to these levies collected through powers under FSMA, we collect the
  economic crime levy (ECL) on behalf of the Treasury. Responsibility for collecting the ECL has been given to the FCA, HM Revenue and Customs and the Gambling Commission under Section 53(1) of the Finance Act 2022. The arrangements for all 3 collection agents, including the levy rates and the timing of payments, are determined by the Economic Crime (Anti-Money Laundering) Levy Regulations 2022 and subsequent orders issued by the Treasury. The levy we collect is restricted to firms we are responsible for supervising under the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (MLRs). It is based on total UK revenue. Since the terms of this levy are determined by legislation not FCA rules, it did not form part of the consultation and we included it in the CP for information only. However, some respondents did comment on it.
  5.3 Table 7.1 in our CP showed the proposed allocations of the FSMA levies to fee-blocks.
  We have not changed the pattern of distribution, but some of the totals to be recovered have changed so this affects the levy amounts allocated to each fee-block. As we noted in the CP, some of the data we consulted on was estimated and this may also affect the final levy rates. Table 5.1 below therefore presents the final levy totals and their allocations to each fee-block. It also gives references to the parts of the FEES Manual in Appendix 1 where the fee-rates are set. The total levy for MaPS has been adjusted to take account of underspends from the previous year. In addition, we have been notified by the Treasury that the total budget for the devolved authorities has increased from £10.3m to £11.9m. This is due to the correction of a previous error with the funding formula and how it is applied when calculating allocations for the devolved authorities.

27
Table 5.1: Revised Final allocation of AFR in relation to devolved authorities FSMA
levies 2023/24 to fee-blocks
Money guidance in the UK – levy rates in Fees 7A Annex 1Fee-block Final 2023/24 allocation £m 2022/23 allocation £m Movement A.0 minimum fee 0.18 0.16 10.8% A.1 Deposit acceptors 3.50 2.95 18.8% A.2 Home finance providers and administrators 3.05 2.55 19.3% A.3 Insurers – general and UK ISPVs 1.67 1.45 15.3% A.4 Insurers – life 2.58 2.36 9.3% A.5 Managing agents at Lloyd’s 0 0 n.a. A.6 The Society of Lloyd’s 0 0 n.a. A.7 Portfolio managers 0.93 0.81 15.8% A.9 Managers and depositaries of investment funds, and operators of collective investment schemes or pension schemes
1.16 1.13 3.2%
A.10 Firms dealing as principal 1.05 0.89 17.5% A.13 Advisors, arrangers, dealers or brokers 1.83 1.43 28.3% A.14 Corporate finance advisers 0.19 0.17 15.8% A.18 Home finance providers, advisers and arrangers
0.24 0.20 15.9%
A.19 General insurance distribution 0.39 0.34 14.5% A.21 Firms holding client money or assets, or both 0.20 0.17 18.2% CC1. Credit-related regulated activities with limited permission
1.16 1.24 -6.0%
CC2. Credit-related regulated activities 1.64 1.24 32.4% G. Firms covered by payment services regulations 2009 (PSR’s) and Electronic Money Regulations 2011 (EMR’s)
0.14 0.12 16.1%
Total 19.91 17.20 15.8%

28
Debt advice in England – levy rates in FEES 7A Annex 2 A.2 Home finance providers and administrators
43.00 40.35 6.6%
CC.3 Consumer credit lending 43.00 40.35 6.6% Total 86.0 80.7 6.6% Pensions guidance in the UK – levy rates in FEES 7A Annex 3 A.1 Deposit acceptors 9.3 12.0 -22.1% A.4 Insurers – life 9.3 12.0 -22.1% A.7 Portfolio managers 9.3 12.0 -22.1% A.9 Managers and depositaries of investment funds, and operators of collective investment schemes or pension schemes
6.2 8.0 -22.1%
A.13 Advisory arrangers, dealers and brokers
4.7 6.0 -22.1%
Total 38.9 50.0 -22.1%
Devolved Authorities debt advice – levy rates in Appendix 1 – FEES 7B
Annex 1R
A.2 Home finance providers and administrators
5.95 5.85 1.8%
CC.3 Consumer credit lending 5.95 5.85 1.8% Total 11.91 11.70 1.8% Illegal money lending – levy rates in Appendix 1 – FEES 13 Annex 1R CC.1 Credit-related regulated activities with limited permission
0.1 0.1 -0.4%
CC.2 Credit-related activities 7.3 6.7 9.1% Total 7.4 6.8 8.9%

29
5.4 Our consultation question was
Q5: Do you have any comments on the proposed 2023/24 rates for the levies collected on behalf of government departments? Feedback from consultation and our responses
5.5 We received 7 responses to the consultation. The main comments are set out below.
FSMA levies
Feedback
5.6 One respondent expressed concern with the methodology for distributing cost recovery
for debt advice. They felt the methodology was flawed because the MaPS levy relies on 2 different metrics. The costs of the organisation are funded through ‘income,’ while debt advice is funded through ‘lending.’ The figure for ‘lending’ is based on the total value of the loan over its full term, but in some parts of the consumer credit market, especially motor finance, that may considerably exceed the amount actually paid by the customer due to early repayments and, especially, repayment before any ‘balloon’ payments are due. As a result, they believed that this charging mechanism has an uneven impact on different parts of the market and that the current approach to allocation was too narrow. The respondent asked for the methodology to be reviewed.
5.7 Some respondents considered that there was no detail on the allocation of the debt
advice and pensions guidance levies to fee-blocks.
5.8 While acknowledging that the 9% increase in the IML seemed reasonable, 1 respondent
asserted that the reasons behind the 15% increase in the debt advice levies was unclear and the FCA should justify the increase.
5.9 A respondent stated that mortgage intermediary firms should not be charged for the
IML levy as they no longer pay separate consumer credit fees. These were merged into the A fee-block in 2022. Our response We note the feedback on some of the definitions and methodologies used to determine the levies. Any changes would require consultation. We will discuss the issues raised with the government departments who are responsible for the levies. We note the comment that there was no detail on the allocation to fee￾blocks of the debt advice and pensions guidance levies. These were set out in Table 7.1 of the CP and the final allocations are in Table 5.1 of this PS.

30
The amounts to be recovered through the levies are not determined by us. They are set by the relevant government departments. We then collect them from the relevant fee payers on their behalf. We encourage respondents to share feedback and questions about the amounts to be recovered with the relevant departments. Since consulting, we have been notified that the increase in the debt advice levy has been adjusted to 6.6%. Any firms which believe they are not eligible to pay any of the levies should contact the FCA fees helpline. Economic crime levy Feedback
5.10 Although we were not consulting on the ECL, some concerns were raised about the
methodology for establishing liability. We summarise these below.
5.11 One respondent asserted that using insurance premiums as a proxy for revenue is likely
to overstate the liability of life insurers. Another said that the definition of turnover for banks and building societies is unclear, in particular whether they should report net or gross interest. The industry norm is to use net interest.
5.12 Another respondent asserted that the new return the FCA has issued to collect revenue
data from firms was an additional regulatory burden. They believed the information may already be available from HMRC and ONS returns and they believed the FCA should already know that certain firms fall below the threshold of £10.2m total revenue so would not be liable to pay.
5.13 Eligibility for the ECL is determined by undertaking activities specified in the MLRs. A
respondent commented that these activities do not always equate to FSMA permissions and asserted that some firms have been receiving requests for data from the FCA even though their activities do not fall under the MLRs. This has in their view caused confusion and may lead some firms to pay the levy when they should be excluded.
5.14 Liability for the ECL is based on a firm’s FRN (FCA Registration Number), but a
respondent commented that not all firms have unique FRNs. Some – on the advice of the FCA – have several. This could result in some firms paying the levy twice or more. Our response If firms believe they are not subject to the MLRs, so should not be liable for the ECL, they should contact the FCA fees helpline.
Section 57(7) of the Finance Act 2022 defines revenue for the purposes
of the ECL. Section 65(1) of the Act further defines turnover. Figures should be calculated in line with industry norms unless the legislation explicitly says otherwise.

31
The Treasury has not been able to find any existing returns which provide the information required authoritatively and consistently, for the relevant time periods. It would be keen to hear suggestions where there are any other sources of information. The ECL is paid on the basis of total revenue and is not restricted to revenue from activities supervised by us. While we may believe that the total revenue of some individual firms might be below £10.2m, our information about their non-supervised activity is not consistent. To ensure accuracy and consistency, we have to ask all firms subject to the MLRs to give us their own data. We are aware of the issues relating to multiple FRNs and have given guidance to firms that they should attribute their total revenue to 1 FRN only, with any others submitting a nil return.

32
Annex 1
Non-confidential respondents
Apricot Mortgage & Loans Ltd
Association of British Credit Unions Limited Association of Financial Mutuals Association of Mortgage Intermediaries Association of Taxation Technicians Building Societies Association Chartered Institute of Taxation Consumer Credit Trade Association Credit Services Association Finance & Leasing Association Granite Financial Services (UK) Ltd Innovate Finance Institute of Chartered Accountants of England and Wales Institute of Financial Accountants Law Society of Northern Ireland London Stock Exchange plc Turquoise Global Holdings Ltd Unavista Ltd

33
Annex 2
Abbreviations used in this paper
Abbreviation Description
AFR Annual funding requirement
CASS Client assets source book
CC Consumer credit
CJ Compulsory jurisdiction (Financial Ombudsman Service) CMC Claims management company CP Consultation paper DAs Devolved authorities DWP Department for Work and Pensions ECL Economic crime levy 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

34
Abbreviation Description
MAS Money Advice Service
MELL Management expenses levy limit
MLRs Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 ORA Ongoing regulatory activities OTF Organised trading facility PS Policy statement PRA Prudential Regulation Authority SFGB Single Financial Guidance Body SM&CR Senior Managers and Certification Regime TPAS The Pensions Advisory Service TPR Temporary permissions regime All our publications are available to download from www.fca.org.uk. Request an alternative format Please complete this form if you require this content in an alternative format. Sign up for our news and publications alerts

Appendix 1
Made rules – Legal instrument

FCA 2023/26
PERIODIC FEES (2023/2024) AND OTHER FEES INSTRUMENT 2023 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 2023/26
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 4 July 2023. 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 (2023/2024) and Other Fees Instrument 2023. By order of the Board 29 June 2023

FCA 2023/26
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 Annex 16R Fees for an application for variation of permission The fee relevant to the application is due on or before the date the application is made. Application type Applicable pricing category in FEES 3
Annex 1AR
…
5 Credit-related permissions
…
(c) Community finance organisations and credit unions 50% of the highest pricing category relevant to the application … … 4 Periodic fees …
4.2 Obligation to pay periodic fees
…
Extension of Time
…
4.2.11 R Table of periodic fees payable to the FCA

FCA 2023/26
1 Fee payer 2 Fee payable 3 Due date 4 Events occurring during the period leading to modified periodic fee ... Proxy advisor (1) £5,000 (2) For a proxy advisor which is already trading on 1 April 2020, the amount specified in (1) upon notifying the FCA. (3) For a proxy advisor which starting trading after 1 April 2020, the fee payable is pro￾rated in proportion to the months remai ning in the financial year 1 April – 31 March, including the month of notification. Fees 4 Annex 11R (1) At the time of notification (2) For a proxy advisor which has already notified the FCA, within 30 days of the date of the invoice Within 30 days of the date of the invoice Not applicable … 4 Annex 1AR FCA activity groups, tariff bases and valuation dates …
Part 2

FCA 2023/26
...
…
4 Annex
2AR
FCA Fee rates for the period from 1 April 2022 2023 to 31 March 2023 2024
Part 1
...
Activity group Fee payer falls in the fee block if:
A.0 FCA minimum 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 asset fund; or (c) a firm exclusively carrying on credit-related regulated activities or. (d) a funeral plan intermediary or provider in fee-block A.23. 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 14.526 14.836 >140 - 630 14.526 14.836 >630 - 1,580 14.526 14.836 >1,580 - 13,400 18.158 18.545 >13,400 23.968 24.479 The tariff rates in A.1 are not relevant for the permissions relating to operating a dormant asset fund.

FCA 2023/26
Instead, a flat fee of £6,762 is payable in respect of these permissions. A.2 Band width (No. of mortgages and/or home finance transactions) Fee (£/mortgage) >50 2.877 3.145 A.3 Gross written premium for fees purposes (GWP) Periodic fee Band Width (£million of GWP) Fee (£/m or part £m of GWP) >0.5 351.76 344.20 PLUS Best estimate liabilities for fees purposes (BEL) General Periodic fee Band Width (£million of BEL) Fee (£/£m or part £m of BEL) >1 19.17 21.70 For UK ISPVs the tariff rates are not relevant and a flat fee of £547.00 is payable in respect of each FCA financial year (the 12 months ending 31 March). A.4 Gross written premium for fees purposes (GWP) General Periodic fee Band Width (£million of GWP) Fee (£/£m or part £m of GWP) >1 220.78 238.93 PLUS Best estimate liabilities for fees purposes (BEL) General Periodic fee Band Width (£million of BEL) Fee (£/£m or part £m of BEL) >1 12.55 15.898 A.5 Band Width (£million of Active Capacity (AC)) Fee (£/£m or part £m of AC)

FCA 2023/26

50 6.20 5.30
A.6 Flat fee (£) 372,052.78 400,692.84
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 4.353 4.947
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) >1 937.33 988.25 A.10 Band Width (No. of traders) Fee (£/person) >1 6,917.74 8,069.40 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 2.494 2.47 A.14 Band Width (£ thousands of annual income (AI)) Fee (£/£ thousand or part £ thousand of AI) >100 1.414 1.54 A.18 Band Width (£ thousands of Annual Income (AI)) Fee (£/£ thousand or part £ thousand of AI) >100 10.072 10.455 A.19 Band Width (£ thousands of Annual Income (AI)) Fee (£/£ thousand or part £ thousand of AI) >100 1.693 1.727

FCA 2023/26
A.21 Client money
Band Width (£ client money) (CM) held
Fee (£/£ millions or part
£ million of CM) less than £1 million 108.70 99.09 an amount equal to or greater than £1 million but less than or equal to £1 billion
81.53 74.32
more than £1 billion 54.35 49.55
PLUS
Safe custody assets
Band Width (£ safe custody assets) (CA) held Fee (£/£ millions or part £ million of CA) less than £10 million 0.374 0.415 an amount equal to or greater than £10 million and less than or equal to £100 billion
0.2805 0.3113
more than £100 billion 0.187 0.2075
A.22 Band Width (No. of appointed representatives) Fee (£/appointed representative) >0 266.00 for appointed representatives other than introducer appointed representatives >0 80.00 for introducer appointed representatives A.23 Band Width (£ thousands of annual income (AI)) Fee (£/£ thousand or part £ thousand of AI) >100 [tbc] 7.56 Band Width Fee (£)

FCA 2023/26
B. Service
Companies
Annual income up to and including £100,000 1,202.00 PLUS:
Band width Fee (£/£thousand or part
£ thousand of income)
Annual income over
£100,000
0.80 0.99
B. Regulated benchmark administrators
Band width Fee (£)
Annual income up to and including £100,000 1,222.00 PLUS:
Band width Fee (£/£ thousand or part
£ thousand of income)
Annual income over
100,000
1.46 1.33
B. Recognised investment exchanges
Band width Fee (£)
Annual income up to and including £10,000,000 116,081.00 PLUS:
Band width Fee (£/£ thousand or part
£ thousand of income)
Annual income over
£10,000,000
2.63 2.39
B. Recognised auction platforms
61,878.00
B. Recognised overseas investment exchanges 66,294.00 B. MTF and OTF operators Band width Fee (£) Annual income up to and including £100,000 1,222.00

FCA 2023/26
PLUS:
Band width Fee (£/£ thousand or part
£ thousand of income)
Annual income over
£100,000
2.27 1.65
CC1. Credit-related regulated activities with limited permission Band Width (£ thousands of annual income (AI)) Fee (£) 0 – 10 350 >10 – 100 700 >100 1,000 PLUS:
Fee (£/£ thousand or part
£ thousand of AI)

250 0.534 0.581
CC2. Credit-related regulated activities Band Width (£ thousands of annual income (AI)) Fee (£) 0 – 50 1,000 >50 – 100 1,250 >100 1,500 PLUS:
Fee (£)
250 1.495 1.627
…
CMC. Band width (£ thousands of annual turnover) Fee (£) 0-50 531.00 50-100 1,062.00 >100 8.52 0.91 per £ thousand or part per £ thousand

FCA 2023/26
Part 2(a) tariff rates (minimum fees) payable to the FCA by FCA￾authorised persons
A.0 (1) £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 £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 £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 £1,175 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 £0.10193 £0.10508.
Part 2(b) tariff rates (minimum fees) payable to the FCA by PRA￾authorised persons
Fee
A.0 (1) Any PRA-authorised person except as set out in (2) and (3) £750 [deleted] [deleted] [deleted] [deleted] (2) Credit union with a tariff base (Modified Eligible Liabilities) of:
(a) £0 to £0.5million £97
(b) £0.5millon million to £2.0million £327 (c) above £2 million. £606
Part 2
…

FCA 2023/26
(3) Non-directive friendly society that meets the criteria of one of the following categories (a) to (c):
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 (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 … 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 2022 2023 to 31 March 2023 2024
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 324.00 150.00 1-2 3-6 7-15 16-50 >50 1 2.5 5 11 22
324.00 150.00
810.00 375.00
1,620 750.00
3,564.00 1,650.00
7,128.00 3,300.00

FCA 2023/26 non-UK AIFs recognised under
section 272 of the
Act
1,320.00
600.00
1-2
3-6
7-15
16-50

50
1
2.5
5
11
22
1,320.00 600.00
3,300.00 1,500.00
6,600.00 3,000.00
14,520.00 6,600.00
29,040.00 13,200.00
…
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 365 Notification under regulation 58 of the AIFMD UK regulation 255 Notification under regulation 59 of the AIFMD UK regulation 365
Part 3 – Periodic fees paid by small registered UK AIFM
The annual fee for small registered UK AIFMs is £718 4
Annex
5R
Periodic fees for designated professional bodies: tariff base, valuation date and tariff rates …
Part 2
This table sets out the tariff rates applicable to designated professional bodies Fee payable in relation to 2022/23 2023/24 Amount payable Minimum fee, payable by all designated professional bodies £10,620

FCA 2023/26
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
22.40 28.12 multiplied by the total
number of exempt professional firms in excess of 1 Note The Financial Services Register includes details of exempt professional firms carrying out insurance distribution activity. … 4
Annex
11R
Periodic fees in respect of payment services, electronic money issuance, regulated covered bonds, CBTL business, data reporting services, and third party verifiers and proxy advisers in relation to the period 1 April 2022 2023 to 31 March 2023 2024 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 2C – Activity group relevant to data reporting service providers
Activity
Group
Fee payer falls into this group if:
G.25 DRSP it is a data reporting services provider.
G.50 it is a proxy adviser
…
Part 3
This table indicates the tariff base for each fee-block. The tariff base is the means by which the FCA measures the amount of business conducted by fee-paying payment service providers, fee-paying electronic money issuers, CBTL firms, data reporting services providers, firms registered under the Money Laundering Regulations, issuers of regulated covered bonds and third party verifiers. Activity Group Tariff base

FCA 2023/26
…
G.26
TPV
Not applicable
G.50 Not applicable
Part 4 – Valuation period
This table indicates the valuation date for each fee-block. A fee-paying payment service provider, a fee-paying electronic money issuer, a regulated covered bond issuer and a third party verifier can calculate tariff data by applying the tariff bases set out in Part 3 with reference to the valuation dates shown in this table. Activity group Valuation date … G.26 TPV Not relevant G.50 Not relevant
Part 5 – Tariff rates
Activity group
Fee payable in relation to 2022/23 2023/24 G.2 Minimum fee (£) 558 £ million or part £m of Modified Eligible Liabilities (MELS) Fee (£/£m or part £m of MELS)

0.1 0.340 0.360
G.3 Minimum fee (£) 558
£ thousands or part thousand of Relevant Income Fee (£/£thousand or part £thousand of Relevant Income)
100 0.454 0.419
G.4 Flat fee (£) 579
G.5 As in G.3

FCA 2023/26
G.10 Minimum fee (£) 1,833
£million or part m of average outstanding electronic money (AOEM) Fee (£/£m, or part £m of AOEM) >5.0 12.80 14.90 G.11 Flat fee (£) 1,272 G.15 Minimum fee for the first registered programme (£) 98,265 114,073 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 18.26 11.64 … G.20 Flat fee (£) 469 G.21 Flat fee (£) 234 G.25 Data reporting services providers. £[tbc] £2.37 per £1,000 or part- £1,000, subject to a minimum payment of £[tbc] £25,197 G.26 TPV Flat fee (£) 281 G.50 Flat fee (£) 5,000 … … 4
Annex
14R
UKLA periodic fees for the period from 1 April 2022 2023 to 31 March 2023 2024
Part 1 Base fee

FCA 2023/26
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 representing shares with a premium listing (see Note 2) 6,037 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) 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 19,087 ES.01 Sponsor A sponsor (see Note 3) 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 33.302966
48.522421
250 – 1,000 12.849266
18.721381
1,000 – 5,000 7.909250
11.523777

FCA 2023/26

5,000 – 25,000 0.192930
0.281099
25,000 0.062331
0.090817
4
Annex
15R
Fees relating to the recognition of benchmark administrators and the endorsement of benchmarks for the period 1 April 2022 2023 to 31 March 2023 2024 Activity group Fee payable A third country legal representative £14,412 A benchmark endorser £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 2022/2023 2023/24 J.1 Registered credit rating agencies and third country certified credit rating agencies with applicable turnover of £8,399m £8.868m or less Exempt Registered credit rating agencies with turnover above 8,399m £8.868m £1.99 £2.89 per £1k or part-£1k (applies to all turnover) Certified credit rating agencies with turnover above 8,399m £8.868m £5,039 £5,321.00

FCA 2023/26
J.2 Registered trade repositories £10.54 £11.04 per £1k or part-£1k, subject to a minimum payment of £25,197 £26,604.00 Recognised trade repositories £4,199 £4,434.00 J.3 Registered securitisation repositories £10.54 £11.04 per £1k or part-£1k subject to a minimum payment of £25,197 £26,604.00 4A Temporary Permissions Regime (TPR) and Financial Service Contracts Regime (FSCR) – periodic fees … 4A
Annex
1R
TP persons periodic fees for the period from 1 April 2022 2023 to 31 March 2023 2024
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 14.526 14.836
140 – 630 14.526 14.836
630 – 1,580 14.526 14.836
1,580 – 13,400 18.158 18.545
13,400 23.968 24.479
A.2 Band Width (no. of mortgages and/or home finance transactions) Fee (£/mortgage) >50 2.877 3.145 A.3 Gross written premium for fees purposes (GWP) Periodic fee

FCA 2023/26
Band Width (£ million of
GWP)
Fee (£/£m or part £m of GWP)

0.5 351.76 344.20
PLUS
Best estimate liabilities for fees purposes (BEL) General Periodic fee Band Width (£ million of BEL) Fee (£/£m of part £m of BEL) >1 19.17 21.70 A.4 Gross written premium for fees purposes (GWP) General Periodic fee Band Width (£ million of GWP) Fee (£/£m or part £m of GWP) >1 220.78 238.93 PLUS Best estimate liabilities for fees purposes General Periodic fee Band Width (£ million of BEL) Fee (£/£m or part £m of BEL) >1 12.55 15.898 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 4.353 4.947
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) >1 937.33 988.25 A.10 Band Width (no. of traders) Fee (£/trader) >1 6,917.74 8,069.40

FCA 2023/26
A.13 For class (2) firms
Band Width (£ thousands of annual income (AI)) Fee (£/£ thousand or part £ thousand of AI) >100 2.494 2.47 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 1.414 1.54
A.18 Band Width (£ thousands of annual income (AI)) Fee (£/£ thousand or part £ thousand of AI)
100 [tbc] 10.455
A.19 Band Width (£ thousands of
Annual Income (AI))
Fee (£/£ thousand or part £ thousand of AI) >100 1.693 1.727 CC.2 Band Width (£ thousands of annual income (AI)) Fee (£) 0 - 50 750 1,000 >50 - 100 1,000 1,250 >100 1,151 1,500 PLUS:
Fee (£/£ thousand or part £ thousand of AI) >250 1.495 1.627
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

FCA 2023/26
A.0 £1,750 £1,500 unless it is a TP firm that also pays minimum fees set out in the PRA Rulebook, in which case it is £875 £750
Part 3
TA PI firm or TA RAISP firm
Activity group
Fee payable
G.2 Minimum fee (£) 558
£ million or part £ million of Modified Eligible Liabilities (MELs) Fee (£/£m or part £m of MELs) >0.1 0.340 0.360 G.3 Minimum fee (£) 558 £ thousands or part £ thousand of Relevant Income Fee (£/£thousand or part £ thousand of Relevant Income) >100 0.454 0.419
Part 4
TA EMI firm
Activity group
Fee payable
G.10 Minimum fee (£) 1,833
£ million or part £ million of average outstanding electronic money (AOEM) Fee (£/£m or part £m of AOEM) >5.0 12.80 14.90 4A
Annex
2R
TPR funds periodic fees for the period from 1 April 2022 2023 to 31 March 2023 2024

FCA 2023/26
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 324.00 150.00 1-2 324.00 150.00 3-6 810.00 375.00 7-15 1,620.00 750.00 16-50 3,564.00 1,650.00 >50 7,128.00 3,300.00 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 start of the period to which the fee applies. For example, for 2019/20 2023/2024 fees a reference to 31 March means 31 March 2019 2023.
Part 2
Scheme type Fee (£)
EEA AIF, EuVECA, EuSEF, or EEA LTIF which may be marketed in the UK under Part 9A of The Alternative Investment Fund Managers (Amendment) (EU Exit) Regulations 2018 365 … 5 Financial Ombudsman Service Funding … 5
Annex
1R
Annual General Levy Payable in Relation to the Compulsory Jurisdiction for 2022/23 2023/24 Introduction: annual budget

FCA 2023/26
1. The annual budget for 2022/23 2023/24 approved by the FCA is £291.7m
£234.2m.
2. The total amount expected to be raised through the general levy in 2022/23
2023/24 will be £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 asset fund operators Number of accounts relevant to the activities in DISP 2.6.1R as at 31 December In the case of dormant asset fund operators, the tariff base is the number of eligible activated accounts (8). £0.150 £0.1261 per relevant account, subject to a minimum levy of £100 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) £0.434 £0.3816 per £1,000 of GWP or RGWP, subject to a minimum levy of £100 3-The Society (of Lloyd’s) Not applicable £104,739 £105,410 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). £0.0509 per £1,000 of GWP or RGWP, subject to a minimum levy of £130

FCA 2023/26
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.
£0.592 £0.383 per £1,000 of annual income subject to a minimum fee of £45 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.
£0.42 £0.265 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, TA EMI firms, TA PI firms and TA RAISP firms, relevant income as described in FEES 4
Annex 11 Part 3.
£0.0044 per £1,000 of relevant income subject to a minimum levy of £75

FCA 2023/26
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 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 £0.857 £0.8840 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

FCA 2023/26
20 - Credit-related regulated activities Annual income as defined in FEES 4
Annex 11BR
Levy of £35
Plus £1.181 £1.497 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 24 – claims management companies Annual income Levy of £50 plus £1.20 £0.78 per £1,000 of annual income 25 – funeral plan intermediaries and funeral plan provider Annual income Flat fee [tbc] Levy of £35 … 7A SFGB levies … 7A
Annex
1R
SFGB money advice levy for the period from 1 April 2022 2023 to 31 March 2023 2024
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)

FCA 2023/26

10 0.949 0.897
A.2 Band Width (no. of mortgages and/or home finance transactions) Fee (£/mortgage) >50 0.449 0.446 A.3 Gross written premium for fees purposes (GWP) Band Width (£ million of GWP) Fee (£/£m or part £m of GWP) >0.5 21.38 17.48 PLUS Best estimate liabilities for fees purposes (BEL) Band Width (£ million of BEL) Fee (£/£m of part £m of BEL) >1 1.24 1.15 A.4 Gross written premium for fees purposes (GWP) Band Width (£ million of GWP) Fee (£/£m or part £m of GWP) >1 12.77 11.64 PLUS Best estimate liabilities for fees purposes (BEL) Band Width (£ million of BEL) Fee (£/£m or part £m of BEL) >1 0.726 0.775 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

FCA 2023/26
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 0.0840 0.084
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 96.57 81.04 A.10 Band Width (no. of traders) Fee (£/trader) >1 125.43 128.36 A.13 For class (2) firms Band Width (£ thousands of annual income (AI)) Fee (£/£ thousand or part £ thousand of AI) >100 0.0487 0.0482 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 0.0186 0.0174 A.18 Band Width (£ thousands of Annual Income (AI)) Fee ((£/£ thousand or part £ thousand of AI) >100 0.135 0.116 A.19 Band Width (£ thousands of Annual Income (AI)) Fee (£/£ thousand or part £ thousand of AI)

FCA 2023/26

100 0.0215 0.0196
A.21 Band Width (£ client money) (CM) held Fee (£/£ millions or part £m of CM) less than £1 million 1.296 1.108 an amount equal to or greater than £1 million but less than or equal to £1 billion
0.972 0.831
more than £1 billion 0.648 0.554
PLUS
Safe custody assets
Band Width (£ safe custody assets) (CA) held Fee (£/£ millions or part £m of CA) less than £10 million 0.0045 0.0047 an amount equal to or greater than £10 million and less than or equal to £100 billion
0.0034 0.0035
more than £100 billion 0.0023 0.0024
G.3 Minimum fee (£) 10
£ thousands or part £ thousand of Relevant Income Fee (£/£thousand or part £ thousand of Relevant Income) >100 0.0262 0.0209 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 2.472 1.630 G.11 Flat fee (£) 10 CC.1 Minimum fee (£) 10

FCA 2023/26
£ thousand of annual income (AI)
Fee (£/£ thousand or part £ thousand of AI) >250 0.1004 0.0872 CC.2 Minimum fee (£) 10 £ thousands of annual income (AI) Fee (£/£ thousand or part £ thousand of AI >250 0.1004 0.0872 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.
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 2022 2023 to 31 March 2023 2024 …
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

FCA 2023/26
A.2 Home finance providers and administrators Band width (£million of secured debt) >0 Fee (£/£m or part £m of secured debt) 26.15 27.05 CC.3 Consumer credit lending Band width (£million of value of lending) >0 (Note 1) Fee (£/£m or part £m of value of lending) 167.76 173.01 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. 7A
Annex
3R
SFGB pensions guidance levy for the period 1 April 2022 2023 to 31 March 2023 2024 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)
3.239 2.393
A.4 Band width (£ million of gross written premium for fees purposes (GWP) >1 Fee (£/£m or part £m of GWP)
90.49 69.99
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)
1.0201 0.833

FCA 2023/26
Activity group SFGB pensions guidance levy payable A.9 Band width (£ million of gross income (GI)) >1 Fee (£/£m or part £m of GI)
574.63 433.81
A.13 Band width (£ thousands of annual income (AI)) >100 Fee (£/£ thousand or part of £ thousand of AI)
0.1682 0.1226
7B The DA levy
…
7B
Annex
1R
DA levy for the period from 1 April 2022 2023 to 31 March 2023 2024 …
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)
3.791 3.75
CC.3 Consumer credit lending
Band width (£million of value of lending) >0 (Note 1) Fee (£/£m or part £m of value of lending) 24.33 23.96 Note:
Credit unions and community finance organisations do not pay any DA levy on the first £2,000,000 of value of lending.

FCA 2023/26
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 2022 2023 to 31 March 2023 2024 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 0.949 0.897
A.2 Band Width (no. of mortgages and/or home finance transactions) Fee (£/mortgage) >50 0.449 0.446 A.3 Gross written premium for fees purposes (GWP) Band Width (£ million of GWP) Fee (£/£m or part £m of GWP) >0.5 21.38 17.48 PLUS Best estimate liabilities for fees purposes (BEL) Band Width (£ million of BEL) Fee (£/£m of part £m of BEL) >1 1.24 1.15 A.4 Gross written premium for fees purposes (GWP) Band Width (£ million of GWP) Fee (£/£m or part £m of GWP) >1 12.77 11.64

FCA 2023/26
PLUS
Best estimate liabilities for fees purposes (BEL) Band Width (£ million of BEL) Fee (£/£m or part £m of BEL) >1 0.726 0.775 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 0.084 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 96.57 81.04 A.10 Band Width (no. of traders) Fee (£/trader) >1 125.43 128.36 A.13 For class (2) firms Band Width (£ thousands of annual income (AI)) Fee (£/£ thousand or part £ thousand of AI) >100 0.0487 0.0482 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 0.0186 0.0174 A.18 Band Width (£ thousands of Annual Income (AI)) Fee ((£/£ thousand or part £ thousand of AI) >100 0.1350 0.116 A.19 Band Width (£ thousands of Annual Income (AI)) Fee (£/£ thousand or part £ thousand of AI) >100 0.0215 0.0196

FCA 2023/26
CC.2 Minimum fee (£) 10
£ thousands of annual income (AI) Fee (£/£ thousand or part £ thousand of AI >250 0.1004 0.0872
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 0.0262 0.0209
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 2.472 1.630
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 2022 2023 to 31 March 2023 2024 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.

FCA 2023/26
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 26.15 27.05 CC.3 Consumer credit lending Band width (£million of value of lending) Fee (£/£m or part £m of value of lending) >0 (Note 1) 167.76 173.01 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 2022 2023 to 31 March 2023 2024 This table shows the TPR SFGB pensions guidance levy applicable to each activity group (fee-block). 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 3.239 2.393 A.4 Gross written premium for fees purposes (GWP) Band Width (£ million of GWP) Fee (£/£m or part £m of GWP) >1 90.49 69.99

FCA 2023/26
Activity group TPR SFGB pensions guidance levy payable 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 1.0201 0.833 A.9 Band width (£ million of gross income (GI)) Fee (£/£m or part £m of GI) >1 574.63 433.81 A.13 Band width (£ thousands of annual income (AI)) Fee (£/£ thousand or part of £ thousand of AI) >100 0.1682 0.1226 7D Temporary Permissions Regime (TPR) – Devolved Authorities levy … 7D Annex 1R TPR DA levy for the period from 1 April 2022 2023 to 31 March 2023 2024 …
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 3.791 3.75

FCA 2023/26
CC.3 Consumer credit lending Band width (£ million of value of lending) Fee (£/£m or part £m of value of lending) >0 (Note 1) 24.33 23.96 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 2022/23 2023/24 Limited permission (fee￾block CC1):
£5 flat rate
Full authorisation (fee￾block CC2):
Up to £250,000 consumer credit income:
£10
Over £250,000 consumer credit income:
£10 + 0.270 0.274 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 2022/23 2023/24 Activity group Description Fee (£)

FCA 2023/26
Activity group CC2.
Credit-related regulated activities:
Up to £250,000 consumer credit income:
10
Over £250,000 consumer credit income:
10 + £0.270 £0.274 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. Fee payable in relation to 2021/22 2023/24 Amount payable (£) Minimum fee, payable by all professional body supervisors subject to the OPBAS Regulations. £5,310 Variable fee, payable by professional body supervisors where the number of supervised individuals is 6,000 or more. £35.19 £38.65 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 …

FCA 2023/26
App
3.1.2
(1) Registration fee:
£100 Category 1
(2) Periodic fee:
Activity group
Fee-payer falls in the activity group if:
Fee payable in
2022/23 2023/24
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. £1,062 [Note: Regulation 102 of the Money Laundering Regulations] App 4 Fees payable by cryptoasset businesses registered under the Money Laundering Regulations … App 4
Annex 2
Periodic 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.30 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

FCA 2023/26
(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 2022/23 2023/24 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 £13.10 per £1,000 or part-£1,000

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