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FCA PUBLISH FEES PAPERBack

FCAThe FCA have now published a fees paper that will be of interest to members:

  • They have confirmed the FCA periodic fees (annual fees); Financial Ombudsman Service levy and Money Advice Service levy for 2014/15. Please see their policy statement for further information.
  • The fees will apply to consumer credit firms that become authorised during the financial year 2014/15. Newly authorised firms will pay their fee on pro-rata basis from the date they become authorised (so if they become authorised halfway through the year, they will only pay half of the annual fee).
  • The fee rates are the same as those we proposed in our March consultation paper. We received many helpful and thoughtful comments on our proposals and have included our feedback in the policy statement.
  • Members can use our fees calculator to find out how the fees could apply to them if they get authorised this year.
  • Please note, the fees do not apply to firms with interim permission. Firms with interim permission will not pay any further FCA fees until they become authorised.

FCA consumer credit periodic fee rates for 2014/15

Type of Firm

Minimum Annual Fee

Variable Annual Fee

On income above

£250,000

Income band Fee
Limited Permission

 

 

Up to £10,000 £100 £500 + £0.40

per £1,000

Over £10,000 to £50,000 £250
Over £50,000 to £100,000 £400
Over £100,000 to £250,000 £500
Full Permission

Up to £50,000 £300 £1,000 + £0.78

per £1,000

Over £50,000 to £100,000 £500
Over £100,000 to £250,000 £1,000

Posted by Sue Robinson on 11/07/2014