We are consulting on our proposed 2016/17 regulatory fees and levies.
Why are we consulting on this?
We are funded entirely by the fees and levies recovered from the firms we regulate – we receive no subsidies from other sources. The proposals in this Consultation Paper (CP) will enable us to raise the funding for the FCA, the Financial Ombudsman Service (excluding case fees) and MoneyHelper (formerly the Money Advice Service) to meet their statutory objectives in 2016/17.
It also includes our proposals for consumer credit fees, the ring-fencing implementation fee and the pensions guidance levies.
Who is this paper aimed at?
All fee-payers will be affected by this CP. It does not contain material directly relevant to retail financial services consumers or consumers groups, although, indirectly, fees are met by financial services consumers.
Erratum: In the version of CP16/9 published 5 April 2016, under Chapter 2 paragraph 2.14 second bullet we incorrectly referred to the 'Second Mortgage Credit Directive (MCD II)'. This was corrected to 'Mortgage Credit Directive (MCD)' in the version published on 6 April.
What are the next steps?
We want to know what you think of our proposed 2016/17 fees and levies rates for the FCA periodic fees, consumer credit fees, ring-fencing implementation fee, pensions guidance levies, the Financial Ombudsman Service and MoneyHelper (formerly the Money Advice Service) levies.
Please send us your comments by 27 May 2016 by using our online response form or writing to the address in the paper.
We will consider your comments and subject to FCA Board approval in June, we plan to publish a Policy Statement, including feedback on those comments and final rules, at the end of June 2016.
Certain fee-payers have been invoiced from February 2016 for ‘on-account’ payments and other firms will be invoiced from July 2016, on the basis of the new fees and levies.
Want to find out more?
For more information see: