On 24 January 2022, we revalorised and restructured our application fees. They are now based on the 10 pricing categories listed below (listed in FEES 3 Appendix 1AR).
We consulted on the new structure in November 2020 and provided feedback in April 2021. On 10 January we published a Policy Statement setting out the changes.
At the same time, we introduced some additional new charges:
- a lower category 3 charge of £1,000 when firms that apply for the credit-related permissions of debt counselling and debt adjusting request restrictions on their permitted activity because it is ancillary to their main business.
- a lower category 4 charge of £2,500 for lead generator Claims Management Companies applying only for the permission to seek out people who may have a claim.
On 27 May 2022, we introduced a Category 1 fee for a standalone Form A when the following criteria is satisfied:
- It is triggered by submission of a standalone Long Form A (as defined in the FCA handbook - SUP10C Annex 3D). The payment is per form submitted.
- The charge is only triggered when a standalone application is made. If the Long Form A is submitted as part of an application for authorisation, a variation of permission (VoP) or a notification of registration of an appointed representative, it will not be charged.
- Applications submitted in the course of making arrangements for changes in control (CiCs) will be treated as standalone applications and incur fees since they are not usually linked directly to a single original CiC application.
We have set out the simplified pricing structure in the table below and grouped the permissions within each category. Please refer to FEES 3 Annex 1AR for the pricing categories.
Draft approved persons applications not submitted by 27 May
Are draft applications that are submitted once the new fee has taken effect subject to the new charge?
Yes. If firms wish to avoid paying the revised fee they should submit their complete application ahead of that date. Draft applications not submitted by 27 May will incur the new fee when submitted.
Before submitting an application, we expect firms to take regulation seriously and plan how they will meet the standards of the regulatory system before they apply.
When we consider the extent to which a firm has planned ahead, we ask ourselves whether the applicant is ready, willing and organised when making their application. For more information on our expectations of applicants and application see the authorisations section of our website.
What's the process if I’m mid-way through an application? Will I get a warning of the new charge if I do not submit by 6pm on Thursday 26 May?
No, a warning will not be provided. We have added a message on the Connect landing page for those submitting applications, which states the date when the new application fees are due to take effect.
What’s the process if I’m midway through an application, but unable to submit before 27 May due to an FCA system error. Can I pay no fee?
Under normal circumstances the new fee will apply, however we can consider on a case-by-case basis. Contact the Supervision Hub if you need to discuss this further.
Charging categories and permissions |
Reference in FEES manual |
|---|
| Category 1 | |
|---|---|
|
Fee-block G.20: CBTL lender – Applicant with Part 4A permission |
FEES 3 Annex 10AR: Consumer buy-to-let |
|
Fee-block G.21: CBTL arranger or adviser – Applicant with Part 4A permission |
FEES 3 Annex 10AR: Consumer buy-to-let |
|
Fee-block G.1: Registration under the Money Laundering Regulations |
FEES Appendix 3R: Money-laundering regulations, not cryptoasset businesses |
|
Fee-block C: AIFM UK Reg 58 – giving notice |
FEES 3 Annex 2R: Collective investment schemes |
|
Fee-block CC1, CC2: Community finance organisations |
FEES 3 Annex 1R: Authorisation fees payable in the A, B, C, CC and CMC fee-blocks |
|
Payment Services: Notification of electronic communications exclusion |
FEES 3 Annex 8R: Payment Services Regulations |
|
Fee-block C: AIFM UK Reg 57 – giving notice |
FEES 3 Annex 2R: Collective investment schemes |
|
Fee-block C: AIFM UK Reg 59 – giving notice |
FEES 3 Annex 2R: Collective investment schemes |
|
Fee-block A.2: Community finance organisation |
FEES 3 Annex 1R: Authorisation fees payable in the A, B, C, CC and CMC fee-blocks |
|
Payment Services: Notification of limited network exclusion |
FEES 3 Annex 8R: Payment Services Regulations |
|
Fee-block C: FSMA s 272, Money Market Funds Reg – fund exists prior to 2018 |
FEES 3 Annex 2R: Collective investment schemes |
| Senior management regime application | FEES 3 Annex 15: FCA Transaction fees |
|
Category 2 |
|
|---|---|
|
VoP within the same fee-block |
FEES 3 Annex 16R: variations of permission |
|
Fee-block G.4: Small payment institution |
FEES 3 Annex 8R: Payment Services Regulations |
|
Fee-block C: Money Market Funds Reg Art 5 – UK AIF, not non-UCITS retail or qualified investor scheme |
FEES 3 Annex 2R: Collective investment schemes |
|
Fee-block C: Money Market Funds Reg Art 5 – Non-UK AIF, not marketed in UK |
FEES 3 Annex 2R: Collective investment schemes |
|
Fee-block CC1: Limited consumer credit permission |
FEES 3 Annex 1R: Authorisation fees payable in the A, B, C, CC and CMC fee-blocks |
|
Fee-block G.20: CBTL lender – Applicant without Part 4A permission |
FEES 3 Annex 10AR: Consumer buy-to-let |
|
Fee-block G.21: CBTL arranger or adviser – Applicant without Part 4A permission |
FEES 3 Annex 10AR: Consumer buy-to-let |
|
Registration as Protected cell company under Reg 14 Risk Transformation Regulations |
FEES 3 Annex 14R: Other FCA application fees |
|
Category 3 |
|
|---|---|
|
Fee-block C: FSMA s 264 – operator giving notice |
FEES 3 Annex 2R: Collective investment schemes |
|
Fee-block C: Money Market Funds Reg Art 5 – Non- UK AIF, not managed by AIFM but marketed in UK |
FEES 3 Annex 2R: Collective investment schemes |
|
Fee-block C: Money Market Funds Reg Art 5 – Non- UK AIF, marketed in UK |
FEES 3 Annex 2R: Collective investment schemes |
|
Fee-block G.11: Small electronic money institution |
FEES 3 Annex 10R: Electronic Money Regulations |
|
Benchmark endorser |
FEES 3 Annex 14R: Other FCA application fees |
|
Fee-block G.26: Third party verifier |
FEES 3 Annex 14R: Other FCA application fees |
|
Fee-block G.3: Registered account service provider – activity (h) |
FEES 3 Annex 8R: Payment Services Regulations |
|
Fee-block CC2: Straightforward consumer credit applications |
FEES 3 Annex 1R: Authorisation fees payable in the A, B, C, CC and CMC fee-blocks |
|
Validation order: agreement up to £500,000 |
FEES 3 Annex 15R: FCA transaction fees |
|
Category 4 |
|
|---|---|
|
Fee-block C: OEIC Reg 12- UCITS scheme |
FEES 3 Annex 2R: Collective investment schemes |
|
Fee-block C: FSMA s 242 – UCITS scheme |
FEES 3 Annex 2R: Collective investment schemes |
|
Fee-block C: FSMA s 261C – UCITS scheme |
FEES 3 Annex 2R: Collective investment schemes |
|
Fee-block C: OEIC Reg 12 – Non-UCITS retail scheme |
FEES 3 Annex 2R: Collective investment schemes |
|
Fee-block C: FSMA s 242 – Non-UCITS retail scheme |
FEES 3 Annex 2R: Collective investment schemes |
|
Straightforward fee: Fee-blocks A3, A4, A13, A14, A18, A19, A21, some benchmark administrators |
FEES 3 Annex 1R: Authorisation fees payable in the A, B, C, CC and CMC fee-blocks |
|
Fee-block G.3: Authorised payment institution – activities (f) – (h) |
FEES 3 Annex 8R: Payment Services Regulations |
|
Fee-block C: FSMA s 272 – UK AIF equivalent to qualified investor scheme |
FEES 3 Annex 2R: Collective investment schemes |
|
Fee-block C: FSMA s 261C – Non-UCITS retail scheme |
FEES 3 Annex 2R: Collective investment schemes |
|
Recognition as an accredited body |
FEES 3 Annex 14R: Other FCA application fees |
|
Validation order: agreement £500,000 - £750,000 |
FEES 3 Annex 15R: FCA transaction fees |
|
Claims Management Company – lead generator only |
FEES 3 Annex 1R: Authorisation fees payable in the A, B, C, CC and CMC fee-blocks |
|
Category 5 |
|
|---|---|
|
Fee-block C: OEIC Reg 12 – Qualified investor scheme |
FEES 3 Annex 2R: Collective investment schemes |
|
Fee-block C: FSMA s 242 – Qualified investor scheme |
FEES 3 Annex 2R: Collective investment schemes |
|
Fee-block C: FSMA s 261C – Qualified investor scheme |
FEES 3 Annex 2R: Collective investment schemes |
|
Fee-block C: ELTIF Reg Art 5 – AIF |
FEES 3 Annex 2R: Collective investment schemes |
|
Recognition as benchmark administrator |
FEES 3 Annex 14R: Other FCA application fees |
|
Fee-block G.3: Authorised payment institution – activities (a) – (e) |
FEES 3 Annex 8R: Payments services Regulations |
|
Fee-block G.10: Authorised electronic money institution |
FEES 3 Annex 10R: Electronic Money Regulations |
|
Authorisation under Reg 7 of Data Reporting Service Regulations |
FEES 3 Annex 14R: Other FCA application fees |
|
Fee-block CC2: ‘Moderately complex’ charge for consumer credit – |
FEES 3 Annex 1R: Authorisation fees payable in the A, B, C, CC and CMC fee-blocks |
|
Validation order: agreement £750,000 - £1,000,000 |
FEES 3 Annex 15R: FCA transaction fees |
|
Category 6 |
|
|---|---|
|
Moderately complex fee: Fee-blocks A2, A3, A5, A7, A9, A10, Service companies, some benchmark administrators |
FEES 3 Annex 1R: Authorisation fees payable in the A, B, C, CC and CMC fee-blocks |
|
Fee-group G.15: Change to terms of regulated covered bond |
FEES 3 Annex 15R: FCA transaction fees |
|
Fee-block C: FSMA s 272 – non-UK AIF equivalent to non-UCITS retail scheme or qualified investor scheme |
FEES 3 Annex 2R: Collective investment schemes |
|
Fee-block D: Application to become designated professional body |
FEES 3 Annex 14R: Other FCA application fees |
|
Fee-block CC2: Complex consumer credit applications |
FEES 3 Annex 1R: Authorisation fees payable in the A, B, C, CC and CMC fee-blocks |
|
Fee-block G.25: Data reporting service provider, non-transaction reporting |
FEES 3 Annex 14R: Other FCA application fees |
|
Fee-block CMC: Claims management company (not lead generator only) |
FEES 3 Annex 1R: Authorisation fees payable in the A, B, C, CC and CMC fee-blocks |
|
Fee-block G23: Cryptoasset businesses |
FEES Appendix 4R: Cryptoasset businesses |
|
Insurance business transfer scheme – not long term |
FEES 3 Annex 15R: FCA transaction fees |
|
Validation order: agreement £1,000,000 - £7,500,000 |
FEES 3 Annex 15R: FCA transaction fees |
|
Category 7 |
|
|---|---|
|
Insurance business transfer scheme – long term |
FEES 3 Annex 15R: FCA transaction fees |
|
Fee-block G.25: Data reporting service provider – connection for transaction reporting |
FEES 3 Annex 14R: Other FCA application fees |
|
Fee-group G.15: Registration of regulated covered bond, mainly UK mortgages |
FEES 3 Annex 15R: FCA transaction fees |
|
Validation order: agreement above £7,500,000 |
FEES 3 Annex 15R: FCA transaction fees |
|
Category 8 |
|
|---|---|
|
Complex fee: Fee-blocks A1, A3, A4, MTF/OTF, some benchmark administrators |
FEES 3 Annex 1R: Authorisation fees payable in the A, B, C, CC and CMC fee-blocks |
|
Fee-block B: UK RIE offering safeguarding and administration services |
FEES 3 Annex 3R: Recognised Investment Exchanges |
|
Fee-block B: UK RIE using new and untested IT systems |
FEES 3 Annex 3R: Recognised Investment Exchanges |
|
Fee-block C: ROIE offering safeguarding and administration services |
FEES 3 Annex 3R: Recognised Investment Exchanges |
|
Fee-group G.15: Registration of regulated covered bond |
FEES 3 Annex 15R: FCA transaction fees |
|
Category 9 |
|
|---|---|
|
Fee-block B: Recognised Overseas Investment Exchange |
FEES 3 Annex 3R: Recognised Investment Exchanges |
|
Fee-block B: Designated investment exchange |
FEES 3 Annex 14R: Other FCA application fees |
|
Category 10 |
|
|---|---|
|
Fee-block C: UK Recognised Investment Exchange |
FEES 3 Annex 3R: Recognised Investment Exchanges |