Find out how much your firm’s application fee will be to become authorised by us, or registered with us, depending on the type of application and the type of business your firm operates.
Your firm's application fee will fall into one of our 10 pricing categories – each category covers a different group of permissions.
The table below indicates the fee you're likely to pay if you're one of these common types of firm. For full details of the permissions covered by each pricing category, see further down the page.
We also explain how to pay your application fee (which is separate from the FCA annual fee).
Fees for common types of firm
Annex 1 firms (money laundering registration)
The fee to register as an Annex 1 financial institution[1] is Category 2.
Banks and insurance firms
These firms are regulated by both us and the PRA. Your payments incorporate fees for each regulator and should be made payable to the FCA.
Banks and insurance companies
The fee is Category 7.
Friendly societies
The fee is Category 4.
You'll need to apply via the PRA website[2] but first please read our guidance[3].
Claims management
You'll either pay:
- a Category 4 fee if you're only applying to seek out persons who may have a claim, or
- a Category 6 fee for all other claims management permissions
Consumer credit firms
Your fee will depend on whether you need full or limited permission from us to carry on regulated activities.
Full permission application
The fee is either Category 3, 5 or 6 depending on the permission applied for (see FEES 3 Annex 1[4]).
Limited permission application
The fee falls into Category 2.
Credit unions, CFOs and NFP debt firms
Credit unions
You'll pay £200 to register a common bond and £300 for authorisation as a deposit taker. You'll be jointly regulated by us and the PRA so the fees are split between both regulators.
Community finance organisations (CFOs)
You'll pay a Category 1 fee for authorisation as a home finance provider or home finance administrator, and for full or limited consumer credit permissions.
You'll pay the standard fees for any other permissions you apply for, however there are no annual (periodic) fees for consumer credit.
Not-for-profit (NFP) debt advice bodies
You don't need to pay a consumer credit application fee or annual (periodic) fees.
Cryptoasset firms
The fee to register as a cryptoasset firm[5] is Category 6.
Intermediaries
Most financial advisers, mortgage brokers and general insurance intermediary applications fall into Category 4.
Payment services and e-money firms
Payment institution (PI)
The fee for a small PI is Category 3, and Category 4 or 5 if you’re an authorised PI.
E-money institution (EMI)
The fee for a small EMI is Category 3, and Category 5 if you’re an authorised EMI.
Registered account information service provider (RAISP)
The fee is Category 3.
Notification of the use of the limited network exclusion (LNE)
The fee is Category 1.
Notification of the use of the electronic communications exclusion (ECE)
The fee is Category 1.
Variation of authorisation/registration
To change the e-money or payment services you provide[6], the fee could be:
- 50% of Category 4
- 50% of Category 3
There's no fee if you're only removing services.
Wholesale markets firms
Asset managers
There are different fees for authorised and registered Alternative Investment Fund Managers (AIFMs), and the National Private Placement Regime (NPPR), depending on your type of application.
Find out more about UK AIFM and NPPR fees[7].
Contracts for difference (CFD) firms
Most CFD firms fall into Category 6.
Corporate finance firms
Firms solely undertaking corporate finance business will likely fall into Category 4.
Multilateral trading facilities (MTFs) and organised trading facilities (OTFs)
The fee is Category 8.
Principal trading firms (PTFs)
Most PTFs fall into Category 6.
MiFID investment managers
Most MiFID investment managers fall into Category 6.
How to pay
You need to pay your fee via our online system Connect[8]:
- use a credit or debit card to pay when you apply
- you have to pay the fee to submit an application
- the fee is non-refundable
You can also use My FCA[9], the new portal for registered and authorised firms, to sign in with your existing details for direct access to Connect and RegData.
From My FCA[9] you can view a task list of your scheduled regulatory reporting and attestations with direct access to the forms and see information from across the systems and recent regulatory updates.
Changing your FSMA permission
In some cases you need to pay a fee if you change (vary) your permission.
Find out more about variation of permission[10] and when there's a fee to pay.
The FCA annual fee
The authorisation application fee is a one-off payment, but once authorised you will pay us a periodic fee each year. In your first year, you only pay a proportion of the fee (based on the number of months remaining in the fee year) and we contact you directly about paying this.
We're largely funded by the firms we regulate and aim to cover our costs as fairly and efficiently as possible.
Find out more about how we calculate our annual fees[12].
