Understanding FCA Fees: Key Costs for Authorisation and Beyond

1
Introduction to FCA Fees

• 1 Overview Understanding FCA fees is crucial for
  firms seeking authorisation.
• 2 Key Types of Fees
• Authorisation fees
• Variation of Permissions (VOP) fees
• Annual or periodic fees
• 3 Purpose of FCA Fees To fund the regulators
  activities.

2
FCA Authorisation Fees

• Complexity-Based Charges Fees vary depending on
  the complexity of the application.
• Examples
• Minimum fee 1,000 (e.g., consumer credit firms)
• Complex applications Up to 10,000 (e.g., Mifid
  investment firms)
• Payment Method Fees are paid via card during
  submission through FCA Connect.

3
Variation of Permissions (VOP) Fees

• When Required When activities fall outside the
  scope of current permissions.
• Fee Structure
• 500 (category 2 fee) if no fee block change
• Higher fees for multiple block changes
• No Fee for Cancelling Permission.

4
Annual or Periodic Fees

• Mandatory for All Firms After authorisation,
  firms must pay periodic or annual fees.
• Payment Timeline Firms have 30 days after
  receiving a statement to pay.
• Additional Levies
• Financial Ombudsman Service 200 per year 750
  per case.
• Financial Compensation Scheme 3 of regulatory
  turnover or 1,500.

5
Other Regulatory Fees Conclusion

• Additional Fees for Certain Business Models
• Payment Services Regulator
• Prudential Regulation Authority
• Financial Reporting Council
• FCA Fee Calculator Firms can estimate fees via
  the FCAs online calculator.
• Conclusion Plan ahead for all relevant fees when
  applying for FCA authorisation.

6
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