FCA regulated fees and levies 2021/22 Policy Statement published

The FCA has published its final 2021/22 regulated fees and levies information. All fee-payers will be affected by this Policy Statement.

Firms can use the online fees calculator to calculate their individual fees based on the final rates in the Policy Statement. This includes FCA periodic fees and the Financial Ombudsman Service, MaPS, Devolved Authorities and illegal money lending levy final rates (where applicable).

The rebased ORA budget now reflects new ORA responsibilities, including for claims management companies and credit rating agencies, and the proposed revised consumer credit minimum fees. It also reflects the introduction of a fee payable by Principal firms for each of their Appointed Representatives (ARs) and Introducer Appointed Representatives (IARs).

The fee for ARs remains at £250 per AR per year as proposed by the FCA in its Consultation Paper (CP21/8), but the fee for IARs is reduced to £75 per IAR per year.

The FCA has not, though, agreed that the AR oversight cost should be spread across all fee payers, and has created a new ‘fee block’ for Principal firms (fee block A22).

Further information can be found on the FCA website here.

For further details on this story, or any other compliance-related topic, contact our expert team on 01925 767888, or email helpline@ukgigroup.com.

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