Here, we are publishing the 2013/14 periodic regulatory fees and levies rules for the:
- Financial Conduct Authority (FCA);
- Financial Ombudsman Service (ombudsman service) general levy; and
- Money Advice Service.
We also publish our feedback on the responses received to the consultation on the draft fees and levies rules in CP13/1 FCA Regulated fees and levies: Rates proposals 2013/14, published 9 April 2013. The consultation period for CP13/1 closed on 9 June 2013.
Why are we issuing this Policy Statement (PS)?
This policy statement states the fees and levies rates rules that will enable us to raise the £432.1m 2013/14 annual funding requirement. They will also enable us to raise the £23m ombudsman service general levy and the £77.4m Money Advice Service levies to enable these organisations to carry out their statutory functions.
We also summarise the feedback to our consultation paper CP13/1 and publish our response to this feedback.
Who is this PS aimed at?
All authorised firms and other bodies that pay fees and levies to us, the ombudsman service and the Money Advice Service.
Fees and levies rates rules are not directly relevant to retail consumers or consumer groups, although, indirectly, some fees are met by financial services consumers.
What are the next steps?
We will invoice fee-payers from July 2013 onwards for their 2013/14 periodic fees.