Regulatory Alerts2018-11-14
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Regulatory fees and levies: policy proposals for 2019/20
This Consultation Paper sets out the Financial Conduct Authority's proposed policy changes for raising FCA fees from 2019/20, affecting all FCA fee-payers. Key proposals include new fee arrangements for credit rating agencies (CRAs) and trade repositories (TRs), with a £5,000 application fee for new applicants and periodic fees based on applicable turnover, if their regulation transfers from ESMA. It also proposes discontinuing fee-block F for mutual societies, adjusting tariff data weightings for insurers, removing consumer credit fees from community finance organisations and credit unions, and designating part of the debt advice levy for devolved authorities, including firms in the temporary permissions regime. Comments on these proposals are requested by 14 January 2019.