Organisations we collect for

Find out which organisations we collect levies for. 

Each year your firm pays regulatory fees and other charges (levies).

Your fees and levies fund the Financial Conduct Authority (FCA) but also contribute to other organisations:

Which organisations you pay towards will depend on the type of business you run.

We calculate and collect fees and levies, sending you a single invoice for all your regulatory costs.

Additional fees and levies may be charged during the financial year, eg an interim levy for the FSCS to cover the cost of increased compensation claims.

Payment Systems Regulator (PSR)

The Payment Systems Regulator (PSR) is an independent subsidiary of the FCA and is the economic regulator for the payment systems industry in the UK.

The regulator’s goal is to promote competition and innovation and to ensure payments systems are operated and developed in the interests of the people and businesses that use them.

The PSR is funded by the participants of the payment systems it regulates.

Prudential Regulation Authority (PRA)

If the PRA regulates any of your activities, you will be charged a fee.

The FCA and the PRA use the same fee-blocks

The PRA also regulates:

  • deposit-takers (fee-block A1)
  • insurers (fee-blocks A3 and A4)
  • Lloyd's managing agents (fee-block A5)
  • a small number of significant investment firms in fee-block A10

Regulatory costs for firms in these blocks will be shown on your invoice as coming from the PRA.

If you are dual-regulated, your fees are divided between us and the PRA. Your invoice will show our costs and the PRA’s costs separately.

Financial Services Compensation Scheme

All authorised firms pay the FSCS levy.

The FSCS deals with claims against authorised firms that have failed (for example because of insolvency). It has the power to pay compensation to consumers.

The firms it covers include:

  • deposit-takers
  • insurance companies
  • investment firms
  • investment mediation firms
  • home-finance mediation firms
  • general insurance mediation firms
  • debt management firms

Find out more about the:

Exemptions

In certain circumstances you may not have to pay all of this levy.

Read our guidance on FSCS exemptions.

How to apply for an exemption.

Other FSCS levies

The FSCS can charge interim or other levies (for example, deposit-takers’ default levy) during the financial year if it needs to.

So for example if there is a rise in claims against firms carrying on a particular regulated activity, or a particular financial event, the FSCS will charge an interim levy to those firms.

The levy covers the cost of:

  • the extra work needed to deal with these claims
  • compensating the consumers affected

Find out more about the ​​​supplementary levies for 2017/18.

Deposit takers default levy

Read more about how the FSCS is funded.

Financial Ombudsman Service

The Ombudsman Service offers a way to resolve disputes out of court.

They deal with complaints against authorised firms about their regulated activities and certain other financial services activities.

The service is free to complainants. The Financial Ombudsman Service's decisions are based on what is 'fair and reasonable' and are binding on firms if a complainant accepts them.

In certain circumstances you may not have to pay the levy.

Read our guidance on Financial Ombudsman Service exemptions.

How to apply for an exemption.

Money Advice Service (MAS)

All firms pay a levy to the MAS.

The MAS is a service for the public to:

  • improve the understanding and knowledge finance (including the UK financial system)
  • improve the ability of individuals to manage their own finances
  • fund and coordinate debt advice

Financial Reporting Council (FRC)

The FRC is the UK’s independent regulator for corporate reporting and governance.

It is funded by the accountancy profession and the business community.

We collect the business community’s levy for FRC.

You will pay a levy if you:

  • are a life or general insurance company
  • issue securities or global deposits

If you have to pay the FRC levy, it will show separately in your invoice.

Read more about the FRC's funding.

Pensions Guidance Service (PGS)

The PGS will fund the provision of pensions guidance. 'Pension Wise' is the government's impartial guidance service to help consumers understand the greater flexibility they will have with their pension pots, resulting from the reforms under the Pensions Schemes Act 2015.

Firms that pay variable fees to the FCA in these fee-blocks will also be charged a PGS levy:

  • deposit takers (A1)
  • life insurers (A4)
  • portfolio managers (A7)
  • managers and depositaries of investment funds, and operators of collective investment schemes or pensions schemes (A9)
  • advisory arrangers, dealers or brokers (A13)

Illegal Money Lending Team (IML)

The illegal money lending teams investigate and prosecute illegal money lenders.

With effect from the fee year 2017/18, the FCA collects a levy from consumer credit firms on behalf of H M Treasury to meet the costs of funding the illegal money lending teams.

Firms that have a limited consumer credit permission (fee-block CC1) pay a flat levy.

Firms that have a full consumer credit permission (fee-block CC2) pay a flat levy and a variable amount if their consumer credit income is over £250,000.

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