This paper sets out our proposed policy changes to our fee and levy regimes. We are funded entirely by the fees and levies recovered from the firms we regulate – we receive no subsidies from other sources.
Why are we issuing this consultation paper?
This forms part of our annual cycle of fees consultation.
In October or November, we consult on any proposed changes to the underlying policy of the fee and levy regimes of the FCA, the Financial Ombudsman Service, the Financial Services Compensation Scheme (FSCS), the Money Advice Service and, from 2015/16, the Payment Systems Regulator (PSR).
We expect to consult on the fee rates for the forthcoming year in the following March. We do not consult on any proposals affecting the FSCS in this CP, but we do flag up the implications for the different bodies where appropriate.
Who should read this paper?
Fees policy directly affects all regulated firms, but each chapter of this CP covers a different aspect of fees policy so will affect different types of firm. Table 1.1 of the paper sets out the fee-payers most likely to be affected.
In Chapter 2 we discuss our proposals for how we should raise fees to recover the 2015/16 funding needed by the new Payment Systems Regulator.
In Chapter 3 we set out our feedback to the responses we received to CP14/11 Retirement reforms and the Guidance Guarantee (July 2014). These have informed our proposals for further consultation discussed in Chapter 4.
Please send us your comments by 2 February 2015 using the online response form.
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