Source: https://www.handbook.fca.org.uk/handbook/FEES/4/2.html?date=2015-11-02
Timestamp: 2020-04-06 06:22:33
Document Index: 285092960

Matched Legal Cases: ['art 1', 'art 1', 'art 1', 'art 2', 'art 2', 'art 2', 'art 2', 'art 2', 'art 2', 'art 5', 'art 5', 'art 4', 'art 5', 'art 552', 'art 4']

A person shown in column (1) of the table in FEES 4.2.11 R and, if applicable, FEES 4.2.11AR52 as the relevant fee payer must pay each periodic fee applicable to it, calculated in accordance with the provisions referred to in column (2) of the applicable52 table, as adjusted by any relevant provision in this chapter:
A relevant fee payer will be required to pay a periodic fee for every year during which they have the status in column 1 of the table in FEES 4.2.11 R and/or FEES 4.2.11AR52 (or in relation to collective investment schemes, for every year during which it is a regulated collective investment scheme) subject to any reductions or exemptions applicable under this chapter. If a person is the relevant fee payer for more than one status listed in column 1 of the table in FEES 4.2.11 R and/or FEES 4.2.11AR52 (or in relation to collective investment schemes, the relevant fee payer for more than one regulated collective investment scheme) he will be required to pay a fee in relation to each.
The FCA51 will issue invoices in respect of the FCA and PRA51 to firms and other fee payers and expects to do so at least 30 days before the dates on which payments fall due under FEES 4.2.1 R.
A51 periodic fee must be paid using either direct debit, credit transfer (BACS/CHAPS), cheque, Maestro1153, Visa Debit21 or by credit card (Visa/Mastercard only). Any payment by permitted credit card must include an additional 2% of the sum paid.1
For20 the fee year during which the event19 described in column 4 of the table in FEES 4.2.11 R and/or FEES 4.2.11AR52, giving rise to, or giving rise to an increase in, the fee payable in FEES 4.2.1 R occurs , the periodic fee required under FEES 4.2.1 R is modified for:
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all other fee payers in column (1) of the table in FEES 4.2.11 R or FEES 4.2.11A R52, in accordance with the formula set out below19.
A firm (other than an5 AIFM qualifier,18ICVC or UCITS qualifier) which becomes authorised or registered, 12or whose permission and/or payment service activities are 9extended, during the course of the fee year52 must pay a fee which is calculated by:
identifying each of the tariffs set out in Part 1 of 52Part 1 of FEES 4 Annex 2AR, FEES 4 Annex 2BR52 and/or Part 1 of52 FEES 4 Annex 11 as appropriate9 for the relevant fee year52 that apply to the firm only after the permission is received or extended or payment service activities are authorised or registered 12or extended or electronic money issuance activities are authorised or registered under the Electronic Money Regulations;19:27
calculating the amount for each of the applicable52 tariffs which is the higher of:
any applicable minimum fee specified in relation to 28a particular tariff in FEES 4 Annex 2AR or FEES 4 Annex 2BR (but note, for the avoidance of doubt, that these are not the A.0 or PA.0 minimum fees set out under Part 2 of FEES 4 Annex 2AR and Part 2 of FEES 4 Annex 2BR); and52
adding together the amounts calculated under (2) in relation to fees payable to the FCA and, if applicable, separately adding together the amounts calculated under (2) in relation to the fees payable to the PRA;52;
working out whether an A.0 or a PA.0 minimum fee is payable under Part 2 of FEES 4 Annex 2AR or Part 2 of FEES 4 Annex 2BR (except that minimum fee is not payable again by a firm whose permission is extended if the fee was already payable before the extension);527
working out whether an AP.0 FCA prudential fee is payable under Part 2 of FEES 4 Annex 2AR and if so how much;52
working out whether a PT.1 PRA transitional fee is payable under Part 2 of FEES 4 Annex 2BR and if so how much;52
modifying the result for the FCA and, if applicable, the PRA52 in accordance with the formula set out 19in FEES 4.2.6 R (except that FEES 4 Annex 10R19 (Periodic fees for MTF operators) deals with a firm19that receives permission for operating a multilateral trading facility or has its permission extended to include this activity during the course of the relevant fee year52 and FEES 4.2.6 R does not apply).
1Projected valuations for a firm's first year will be collected for the 12 month period beginning with the date a firm becomes authorised or registered,12 or the date its 9permission and/or payment service activities are 9extended. That information will be used to calculate the periodic fee for the remainder of the fee year51 in which the firm was authorised or registered 12or its permission and/or payment service activities were 9extended (adjusted in accordance with FEES 4.2.7 R) and to calculate the periodic fee for the following fee year51. Projected valuations are not relevant for those fee payers that are only required to pay fixed fees. 9
a firm's fees for its second and subsequent17 fee year.52 These are17 the fee years52 years17 following the fee year52 in which it was given permission and/or was authorised or registered 12 under the Payment Services Regulations or the Electronic Money Regulations12 or had its permission and/or payment services activities extended (the relevant permissions); and9
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17The starting point for calculating the fees referred to in (1)(a) is determining whether or not the firm's tariff base for the relevant fee year52 can be calculated using data from a complete period (as specified in Part 5 of FEES 4 Annex 1AR, Part 5 of FEES 4 Annex 1BR52 or Part 4 of52 FEES 4 Annex 11 R) that begins on or after the date that the firm obtained the relevant permission to which that tariff base relates.
it must calculate that tariff base as at the December before the start of the fee year52.
is, but for this rule, required to calculate its tariff base for the relevant permission by reference to the firm's financial year ended in the calendar year ending on the 31 December before the start of the fee year52 and, since obtaining the relevant permission, the firm has yet to complete a full financial year ended in the calendar year ending on the 31 December before the start of the fee year;52 or17
is, but for this rule, required to calculate its tariff base by reference to the twelve months ending on the 31 December before the start of the fee year52 and, since obtaining the relevant permission, the firm has yet to complete a full twelve months ending on the 31 December before the start of the fee year;5217
it must calculate the tariff base under (d) below unless it is in its second fee year52 and was authorised between 1 January and 1 April (in which case it must use the projected valuations provided for in (2)(b) above).
in respect of firms satisfying condition (5)(c)(i), 17the tariff is calculated by reference to the period beginning on the date it acquired the relevant permission relating to the tariff,9 and ending on either 17the 31 December before the start of thefee year52 or, if earlier, the start date of the firm's financial year; and
Where a firm is required to use the method in (d) it must notify the FCA (in its own capacity and, if applicable, in its capacity as collection agent for the PRA)52 of this by the date specified in FEES 4.4 (Information on which Fees are calculated).
Where a firm is required to use actual data under this rule FEES 4 Annex 1AR Part 5, FEES 4 Annex 1BR Part 552 and FEES 4 Annex 11 Part 4, are modified, where applicable,52 in relation to the calculation of that firm's valuation date in the fee years52 to which this rule applies.17
References in this table to dates or months are references to the latest one occurring before the start of the appropriate regulator's51 fee year51 unless otherwise stated.
a fee payer ceases to have the status set out in column (1) of the table in FEES 4.2.11 R or FEES 4.2.11AR52; or
unless FEES 4.3.6R (3), 9 FEES 4.3.6R (4) or FEES 4.3.6R (4A)9 (Time and method for payment) applies, that date would otherwise fall on or before the 30th day after the date on which the FCA (in its own capacity or in its capacity as agent for the PRA)51 has sent written notification to that person of the fee payable on that date, in which case he must pay on or before the 30th day after the date on which the FCA51 sends the notification.
FEES 4.2.11R 19/06/2015 RP
As specified in FEES 4.3.1 R in relation to FEES 4 Annex 2AR and FEES 4 Annex 11 R52