SUP 20
Fees Rules
SUP 20.1
Introduction
- 01/12/2004
Application
SUP 20.1.1
See Notes
This
chapter (other than SUP 20.6 (Periodic
fees for certificates granted under article 54 of the Regulated Activities Order )) applies to
every firm except:
(1) an ICVC;
(2) a UCITS
qualifier.
- 21/06/2001
SUP 20.1.2
See Notes
SUP 20.6 (Periodic
fees for certificates granted under article 54 of the Regulated Activities
Order) applies to every person who
holds a certificate issued by the FSA under
article 54 of the Regulated
Activities Order (Advice given in newspapers etc.).
- 21/06/2001
Purpose
SUP 20.1.3
See Notes
- 21/06/2001
Background
SUP 20.1.4
See Notes
- 21/06/2001
SUP 20.1.5
See Notes
Most of the detail of what periodic fees
are payable by firms is
set out in SUP 20 Annex 2.
The provisions of the annex will vary from one financial year to another.
Accordingly a fresh SUP 20 Annex 2 will
come into force, following consultation, for each financial year.
- 01/04/2004
SUP 20.1.6
See Notes
These fees, which will normally be payable
on an annual basis, will provide the majority of the funding required to enable
the FSA to
undertake its statutory functions. The amount payable by each firm will depend upon
the category (or categories) of regulated
activities it is engaged in (fee-blocks), and on the amount
of business it conducts in each category (tariff base).
- 21/06/2001
SUP 20.1.7
See Notes
By basing fee blocks on categories of regulated activities,
the FSA aims
to minimise cross-sectoral subsidies. The fee-blocks and tariffs are identified
in SUP 20 Annex 1, which also sets out
the fees calculation for the relevant financial year.
- 21/06/2001
SUP 20.1.8
See Notes
The Society
of Lloyd's, which has permission under
section 315(2) of the Act (The
Society: authorisation and permission), has its own fee block.
- 21/06/2001
SUP 20.1.9
See Notes
Incoming
EEA firms and incoming
Treaty firms receive a discount to reflect the reduced scope
of the FSA's responsibilities
in respect of them. The level of the discount varies from fee-block to fee-block,
according to the division of responsibilities between the FSA and Home
state regulators for firms in
each fee-block - see SUP 20.4(Modifications).
- 21/06/2001
SUP 20.1.10
See Notes
Paragraph 17(2) of Schedule 1 to the Act prohibits the FSA from taking account
of penalties received when setting its periodic and other fees. Accordingly
each SUP 20 Annex 2 will set the periodic
fee without reference to the penalties received. The FSA will allocate the penalties by way of
a permitted deduction specified in SUP 20 Annex 2 for
the relevant year. The FSA normally
expects to allocate those deductions so that they apply to the fee blocks
within which the firms paying
penalties fall.
- 01/04/2004
SUP 20.1.11
See Notes
- 21/06/2001
SUP 20.2
Obligation to Pay Periodic Fees
- 01/12/2004
Amount payable
SUP 20.2.1
See Notes
A firm must
pay to the FSA an
amount equal to:
(1) each periodic fee applicable to it; less
(2) any deductions from the periodic fee
specified in part 2 of SUP 20 Annex 2.
- 01/04/2004
SUP 20.2.2
See Notes
A firm must
not make any other deduction from the amount required under SUP
20.2.1 R.
- 21/06/2001
SUP 20.2.3
See Notes
A firm will
be required to pay a periodic fee for every year during which it has a permission subject to
any reductions or exemptions applicable under this chapter. The FSA will issue invoices
to firms and
expects to do so at least 30 days before the dates on which payments will
fall due under SUP 20.2.7 R.
- 01/04/2004
Calculation of periodic fee
SUP 20.2.4
See Notes
The periodic fee referred to in SUP 20.2.1 R is (except in relation
to the Society)
calculated as follows:
(1) identify each of the tariffs set out
in part 1 of SUP 20 Annex 2 which
apply to the business of the firm for
the period specified in that annex;
(2) for each of those tariffs, calculate
the sum payable in relation to the business of the firm for that period;
(3) add together the amounts calculated under
(2);
(4) apply any applicable payment charge or
discount specified in SUP 20.2.7A R,
provided that:
(a) for payment by direct debit, successful
collection of the amount due is made at the first attempt by the FSA; or
(b) for payment by credit transfer, the amount
due is received by the FSA on
or before the due date.
- 01/06/2004
SUP 20.2.5
See Notes
For a firm which becomes authorised or extends its permission during the course of a financial
year this periodic fee is modified (seeSUP 20.4 (Modifications)).
The periodic fee is also modified for incoming
EEA firms and for incoming
Treaty firms seeSUP 20.4.7 G).
- 21/06/2001
Amount payable by the Society of Lloyd's
SUP 20.2.6
See Notes
The periodic fee referred to in SUP 20.2.1 R in relation to the Society is specified
against its name in SUP 20 Annex 2.
- 01/04/2004
Time and method for payment
SUP 20.2.7
See Notes
(1) The firm must
pay the total amount due under SUP 20.2.1 R,
using one of the payment methods specified in SUP
20.2.7A R.
(2) If the firm's periodic fee for the previous financial
year was at least £50,000, the firm must
pay:
(a) an amount equal to 50% of the periodic
fee payable for the previous year, by 30 April in the financial year to which
the sum due under SUP 20.2.1 R relates;
and
(b) the balance of the periodic fee due for
the current financial year by 1 September in the financial year to which that
sum relates.
(3) If the firm's periodic fee for the previous financial
year was less than ?50,000, the firm must
pay the periodic fee due in full by 1 July in the financial year to which
that sum relates.
(4) If a firm has applied to cancel its Part IV permission in
the way set out in 6.4.5 (Cancellation of permission), then (2)
and (3) do not apply but it must pay the total amount due when the application
is made.
(5) If the FSA has exercised its own-initiative powers to cancel a firm'sPart IV permission in the way set out in ENF 5 (Cancellation of
Part IV permission on the FSA's own initiative), then (2) and (3) do not apply
but the firm must
pay the total amount due immediately before the cancellation becomes effective.
- 01/06/2004
SUP 20.2.7A
See Notes
Table: specified payment methods
This table belongs to SUP 20.2.4 R and SUP 20.2.7 R
| Payment method | Additional amount or discount applicable |
| Direct debit | Discount of £20 |
| Credit transfer (BACS/CHAPS) | Discount of £10 |
| Cheque | None |
| Switch | None |
| Credit card (Visa/Mastercard only) | Additional 2% of sum paid |
- 01/04/2004
Groups of firms
SUP 20.2.8
See Notes
A firm which
is a member of a group may
pay all of the amounts due from other firms in
the same group under SUP 20.2.1 R, if:
(1) it notifies the FSA in writing the name of each other firm within the group for which it will
pay; and
(2) it pays the fees, in accordance with
this chapter, as a single amount as if that were the amount required under SUP 20.2.1 R from the firm.
- 21/06/2001
SUP 20.2.9
See Notes
A notification under SUP
20.2.8 R (1) should be made in accordance with SUP
15.7 (Form and method of notification).
- 21/06/2001
SUP 20.2.10
See Notes
If the payment made does not satisfy
in full the periodic fees payable by all of the members of the group notified to the FSA under SUP
20.2.8 R, the FSA will
apply the sum received among the firms which
have been identified in the notification given under SUP
20.2.8 R (1) in proportion to the amounts due from them.
Each firm will
remain responsible for the payment of the outstanding balance attributable
to it.
- 21/06/2001
SUP 20.2.11
See Notes
If a firm pays its fees through an agent outside
the scope of SUP 20.2.8 R,
it should ensure that the FSA is
informed that the sum being paid is for that firm's periodic fees.
- 21/06/2001
SUP 20.3
Information on which Fees are calculated
- 01/12/2004
SUP 20.3.1
See Notes
A firm (other
than the Society)
must notify to the FSA the
value (as at the valuation date specified in Part 3 of SUP
20 Annex 1) of each element of business on which the
periodic fee payable by the firm is
to be calculated.
- 01/04/2004
SUP 20.3.2
See Notes
A firm (other
than the Society)
must send to the FSA in
writing the information required under SUP 20.3.1 R as
soon as reasonably practicable, and in any event within two months, after
the date specified as the valuation date in Part 3 of SUP
20 Annex 1.
- 01/04/2004
SUP 20.3.3
See Notes
- 21/06/2001
SUP 20.3.4
See Notes
In most cases a firm will provide the information required
by this section as part of its compliance with other provisions of SUP. To the extent that
the FSA does
not obtain sufficient, or sufficiently detailed, information it may seek this
by using its general information gathering powers (see SUP 2 (Information gathering by the FSA on
its own initiative).
- 21/06/2001
SUP 20.3.5
See Notes
These information requirements are modified
for incoming EEA firms and
for incoming Treaty firms (see SUP 20.4.8 R).
- 21/06/2001
SUP 20.4
Modifications
- 01/12/2004
Modification for firms with new or extended permissions
SUP 20.4.1
See Notes
A firm which
becomes authorised during the course of a financial year will be required
to pay a proportion of the periodic fee which reflects the proportion of the
year for which it will have a permission.
- 21/06/2001
SUP 20.4.2
See Notes
Similarly a firm which extends its permission so that its business then falls
within additional fee blocks will be required to pay a further periodic fee
under this section for those additional fee blocks, but discounted to reflect
the proportion of the year for which the firm has
the extended permission.
- 21/06/2001
SUP 20.4.3
See Notes
These provisions apply (with some changes)
to incoming EEA firms and incoming Treaty firms -
see SUP 20.4.10 R.
- 21/06/2001
SUP 20.4.4
See Notes
A firm which
becomes authorised, or whose permission is
extended, during the course of the financial year must pay a fee which is
calculated by:
(1) identifying each of the tariffs set out
in Part 1 of SUP 20 Annex 2 for
the relevant financial year that apply to the firm only after the permission is received or extended, but ignoring:
(a) the A.13 activity group if, before the
variation, the A.12 activity group applied to the firm's business; or
(b) the A.12 activity group if, before the
variation, the A.13 activity group applied to the firm's business;
(2) calculating the amount for each of those
tariffs which is the higher of:
(a) the minimum fee specified for the tariff;
and
(b) the result of applying the tariff to
the projected valuation, for its first year (as provided to the FSA in the course of the firm's application), of
the business to which the tariff relates (or, where relevant, the number of approved persons immediately
after the permission is
given);
(3) adding together the amounts calculated
under (2); and
(4) modifying the result as indicated by SUP 20.4.6 R.
- 01/06/2004
SUP 20.4.5
See Notes
A firm must
pay any sum required under within 30 days of the receipt or extension of the permission, or if later
the due date specified under SUP 20.2.7 R.
- 21/06/2001
SUP 20.4.6
See Notes
Table: Modification for additional fee
This table belongs to SUP 20.4.4 R
| Quarter in which the permission is received or extended | Proportion payable |
| 1 April to 30 June inclusive | 100% |
| 1 July to 30 September inclusive | 75% |
| 1 October to 31 December inclusive | 50% |
| 1 January to 31 March inclusive | 25% |
- 21/06/2001
Modifications for incoming EEA firms and incoming Treaty firms
SUP 20.4.7
See Notes
The FSA recognises
that its responsibilities in respect of an incoming EEA firm or of an incoming Treaty firm are reduced compared
with a firm which
is incorporated in the United
Kingdom. Accordingly the periodic fees which would otherwise
be applicable to incoming
EEA firms and incoming
Treaty firms are reduced.
- 21/06/2001
SUP 20.4.8
See Notes
For an incoming EEA firm or an incoming Treaty firm, the calculation required
by SUP 20.2.4 R is modified as follows:
(1) the tariffs set out in Part 1 of SUP 20 Annex 2 are applied only to
the regulated activities of
the firm which
are carried on in the United
Kingdom; and
(2) those tariffs are modified in accordance
with Part 3 of SUP 20 Annex 2.
- 01/04/2004
SUP 20.4.9
See Notes
For an incoming EEA firm or an incoming Treaty firm, the information required
under SUP 20.3 (Information on which fees
calculated) is limited to the regulated
activities of the firm which
are carried on in the United
Kingdom.
- 21/06/2001
SUP 20.4.10
See Notes
In relation to an incoming EEA firm or an incoming Treaty firm the modification provisions
of SUP 20.4.1 G to SUP
20.4.6 R inclusive apply only in relation to the relevant regulated activity of the firm which
are passported activities or Treaty activities and which are carried
on in the United Kingdom.
- 21/06/2001
Firms cancelling or reducing the scope of their permission
SUP 20.4.11
See Notes
The FSA will
not refund periodic fees if, after the start of the period to which they relate,
a firm cancels
its permission,
or reduces its permission so
that it then falls out of fee-block previously applied to it (but see GEN
3 (Relieving Provisions)).
- 01/04/2003
SUP 20.4.12
See Notes
(1) If:
(a) a firm makes
an application to vary its permission (by
reducing its scope), or cancel it, in the way set out in SUP
20.4.4 R (3) (Variation of permission) and 6.4.5
(Cancellation of permission); and
(b) the firm makes
the application referred to in (a) before the start of the period to which
the fee relates;
SUP
20.2.1 R applies to the firm as if the relevant variation or cancellation
of the firm'spermission took
effect immediately before the start of the period to which the fee relates.(2) But (1) does not apply if, due to the
continuing nature of the business, the variation or cancellation is not to
take effect within three months of the start of the period to which the fee
relates.
- 01/04/2003
SUP 20.4.12A
See Notes
Where a firm has applied to cancel its Part IV permission, or
the FSA has
exercised its own-initiative
powers to cancel a firm'sPart IV permission, the
due dates for payment of periodic fees are modified by SUP
20.2.7 R (4) and SUP 20.2.7 R (5) respectively.
- 01/06/2004
Firms acquiring businesses from other firms
SUP 20.4.13
See Notes
(1) This rule applies if a firm (A) acquires all or a part of the business
of another firm (B),
whether by merger, acquisition of goodwill or otherwise, in relation to which
a periodic fee would have been payable by B.
(2) If, before the date on which A acquires
the business, B had paid any periodic fee payable for the period in which
the acquisition occurred, SUP 20.4.1 G to SUP 20.4.6 R do not apply to A in
relation to the business acquired from B.
(3) If the acquisition occurs after the valuation
date applicable to the business which A acquired from B, for the period following
that in which the acquisition occurred, SUP 20.2.1 R applies
to A, in relation to that following period, as if the acquisition had occurred
immediately before the relevant valuation date.
- 01/04/2003
SUP 20.5
Transaction reporting fees
- 01/12/2004
SUP 20.5.1
See Notes
- 21/06/2001
SUP 20.5.2
See Notes
The provision of this facility by the FSA incurs costs to it.
Those costs depend upon the amount which the facility is used. Accordingly
the income which the FSA receives
from these transaction reporting fees will be set and accounted for separately
from the fee block tariffs set out in SUP 20 Annex 3 R.
- 01/04/2004
SUP 20.5.3
See Notes
A firm which
reports its reportable
transactions to the FSA using
the FSA's Direct
Reporting System (see SUP
17) must pay the fees specified in Part 1 of SUP 20 Annex 3 R.
- 01/04/2004
SUP 20.6
Periodic fees for certificates under article 54 of the Regulated Activities Order
- 01/12/2004
SUP 20.6.1
See Notes
A person who holds a certificate under
article 54 of the Regulated
Activities Order must pay to the FSA each periodic fee specified in Part 2
of SUP 20 Annex 3 R applicable to him.
- 01/04/2004
SUP 20.6.2
See Notes
A person must not make any deductions
from the amount required under SUP 20.6.1 R.
- 21/06/2001
SUP 20.6.3
See Notes
The periodic fee is payable in respect
of each period of one year (or any part of such period) during which the person
holds the certificate.
- 21/06/2001
Modifications for new holders
SUP 20.6.4
See Notes
If a certificate is issued to a person
under article 54 of the Regulated
Activities Order during the course of a year, the periodic fee
payable under SUP 20.6.3 R for
that year is the amount specified in Part 2 of SUP
20 Annex 3 R modified in accordance with Table SUP 20.6.5 R.
- 01/04/2004
SUP 20.6.5
See Notes
Table: Modification of periodic fees for certificates This table belongs to SUP 20.6.4 R.
| Quarter in which the certificate is granted or extended | Proportion payable |
| 1 April to 30 June inclusive | 100% |
| 1 July to 30 September inclusive | 75% |
| 1 October to 31 December inclusive | 50% |
| 1 January to 31 March inclusive | 25% |
- 21/06/2001
Time and method for payment
SUP 20.6.6
See Notes
Each periodic fee must be paid to the FSA on or before:
(1) 30 April in that year; or
(2) If the certificate is issued during that
year, the earlier of 30 days after the certificate is granted and the following
30 April.
- 21/06/2001
SUP 20.6.7
See Notes
The amount due must be paid using one
of the payment methods specified in SUP 20.2.7A R.
- 01/04/2004
SUP 20.6.8
See Notes
The FSA will
issue invoices to the holders of certificates and expects to do so at least
30 days before the dates on which payments fall due.
- 21/06/2001
See Notes
Activity groups, tariff bases and valuation
dates applicable
|
Part
1
This table shows how the regulated activities for which a firm has permission are linked to activity groups ('fee-blocks'). A firm can use the table to identify which fee-blocks it falls into based on its permission. |
| Activity group | Fee payer falls in the activity group if |
| A.1 Deposit acceptors | its permission includes accepting deposits or issuing e-money; BUT DOES NOT include either of the following: •effectingcontracts of insurance; •carrying out contracts of insurance. |
| A.2 Mortgage lenders and administrators | its permission includes one or more of the following: •entering into a regulated mortgage contract ; or • administering a regulated mortgage contract; or • agreeing to carry on a regulated activity which is within either of the above. |
| A.3 Insurers - general | its permission includes one
or more of the following: •effectingcontracts of insurance; •carrying out contracts of insurance; in respect of specified investments that are: • general insurance contracts; or • long-term insurance contracts other than life policies. |
| A.4 Insurers - life | its permission includes one
or more of the following: •effectingcontracts of insurance; •carrying out contracts of insurance; in respect of specified investments including life policies; • entering as provider into a funeral plan contract. |
| A.5 Managing agents at Lloyd's | its permission includes managing the underwriting capacity of a Lloyd's syndicate as a managing agent at Lloyd's. |
| A.6 The Society of Lloyd's | it is the Society of Lloyd's. |
|
Note for
authorised
professional firms: Generally, for fee-blocks A.7 to A.19 below, only those regulated activities that are not limited to non-mainstream regulated activities should be taken into account in determining which fee-block(s) fee-payers belong to for the purpose of charging periodic fees. However, in the case that all the regulated activity within a firmpermission are limited to non-mainstream regulated activities, then that firm's will be allocated to fee-block A.13 alone. This does not prevent a fee being payable by an authorised professional firm under SUP 6.3.22 R where it applies to vary its Part IV permission such that it would normally be allocated to fee-block(s) other than A.13 if the variation was granted. | |
| A.7 Fund managers | (1) its permission includes managing investments; OR (2) its permission includes ONLY either one or both of: • safeguarding and administering of investments (without arranging); and • arranging safeguarding and administration of assets; OR (3) the firm is a venture capital firm. Class (1) firms are subdivided into three classes: • class (1)A, where the funds managed by the firm belong to one or more occupational pension schemes; • class (1)B, where: (a) the firm is not a class (1)A firm; and (b) the firm's permission includes NEITHER of the following: • safeguarding and administering of investments(without arranging); • arranging safeguarding and administration of assets; and (c) the firmEITHER: • has a requirement that prohibits the firm from holding or controlling client money, or both; OR • if it does not have such a requirement, only holds or controls client money (or both), arising from an agreement under which commission is rebated to a client; and • class (1)C, where the firm is not within class (1)A or class (1)B. |
| A.8 | Not applicable. |
| A.9 Operators, Trustees and Depositaries of collective investment schemes | (1) its permission: (a) includes one or more of the following: • establishing, operating or winding up a regulated collective investment scheme; • establishing, operating or winding up an unregulated collective investment scheme; • acting as trustee of an authorised unit trust scheme; • acting as the depositary or sole director of an open-ended investment company; AND (b) PROVIDED the firm is NOT one of the following: • a corporate finance advisory firm; • a firm in which the above activities are limited to carrying out corporate finance business; • a venture capital firm; OR (2) if the fee-payer has none of the regulated activities above within its permission, but ALL the remaining regulated activities in its permission are limited to carrying out trustee activities. |
| A.10 Firms dealing as principal | its permission includes dealing in investments as principal ; BUT NOT if one or more of the following apply: • the firm is acting exclusively as a matched principal broker; • the above activity is limited either to acting as an operator of a collective investment scheme, or to carrying out trustee activities; • the firm is a corporate finance advisory firm; • the above activity is otherwise limited to carrying out corporate finance business; - the firm is subject to a limitation to the effect that the firm , in carrying on this regulated activity, is limited to entering into transactions in a manner which, if the firm was an unauthorised person , would come within article 16 of the Regulated Activities Order (Dealing in contractually based investments); • the above activity is limited to not acting as a market maker; • the firm is an oil market participant, energy market participant or a local; • its permission includes either: • effectingcontracts of insurance; or • carrying out contracts of insurance. |
| A.11 | Not applicable. |
| A.12 Advisory arrangers, dealers or brokers (holding or controlling client money or assets, or both) | its permission: (a) includes one or more of the following, in relation to one or more designated investments : •dealing in investments as agent; •arranging (bringing about) deals in investments; •making arrangements with a view to transactions in investments; •dealing as principal in investments where the activity is carried on as a matched principal broker, oil market participant, energy market participant or local; •advising on investments (except pension transfers and pension opt-outs); •advising on pension transfers and pension opt-outs; •advising on syndicate participation at Lloyd's; (b) BUT NONE of the following: •effectingcontracts of insurance; or •carrying out contracts of insurance; AND (c) CAN HAVE one or more of the following: •safeguarding and administering of assets; •arranging safeguarding and administration of assets; • the ability to hold or control client money, or both: • that is, there is no requirement which prohibits the firm from doing this; and • provided that the client money in question does not only arise from an agreement under which commission is rebated to a client; AND (d) PROVIDED the fee-payer is NOT any of the following: • a corporate finance advisory firm; • a firm for whom all of the applicable activities above are otherwise limited to carrying out corporate finance business; • a firm whose activities are limited to carrying out venture capital business; • a firm whose activities are limited to acting as an operator of a regulated collective investment scheme; • a firm activities; • a firm whose activities are limited to carrying out trustee activities; • a service company. |
| A.13 Advisory arrangers, dealers or brokers (not holding or controlling client money or assets, or both) | (1) it is an authorised professional firm and ALL the regulated
activities in its permission are
limited to non-mainstream regulated activities; OR (2) its permission: (a) includes one or more of the following, in relation to one or more designated investments: • dealing in investments as agent; • arranging (bringing about) deals in investments; • making arrangements with a view to transactions in investments; • dealing as principal in investments where the activity is carried on as a matched principal broker, oil market participant, energy market participant or local; •advising on investments (except pension transfers and pension opt-outs); • advising on pension transfers and pension opt-outs; • advising on syndicate participation at Lloyd's; (b) BUT NONE of the following: • effecting contracts of insurance; • carrying out contracts of insurance; • safeguarding and administration of assets; • arranging safeguarding and administration of assets; AND (c) MUST EITHER, in connection with its designated investment business: • have a requirement that prohibits the firm from holding or controlling client money, or both; OR • if it does not have such a requirement , only holds or controls client money (or both), arising from an agreement under which commission is rebated to a client; AND (d) PROVIDED the fee-payer is NOT any of the following: • a corporate finance advisory firm; • a firm for whom all of the applicable activities above are otherwise limited to carrying out corporate finance business; • a firm whose activities are limited to carrying out venture capital business; • a firm whose activities are limited to acting as an operator of a regulated collective investment scheme; • a firm whose activities are limited to carrying out trustee activities; • a service company. |
| A.14 Corporate finance advisers | the firm is carrying on corporate finance businessPROVIDED the fee-payer is NOT a venture capital firm . |
| A.15 | Not applicable. |
| A.16 Pensions review levy firms | it was liable to pay the Pensions Levy to PIA in 2001/2002. |
| A.17 | Not applicable. |
| A.18 Mortgage lenders, advisers and arrangers | its permission includes one
or more of the following: • entering into a regulated mortgage contract; or • arranging (bringing about) regulated mortgage contracts; or • making arrangements with a view to regulated mortgage contracts; or • advising on regulated mortgage contracts; or • agreeing to carry on a regulated activity which is within any of the above. |
| A.19 General insurance mediation | its permission includes one
or more of the following in relation to a non-investment insurance contract: -dealing in investments as agent; or • arranging (bringing about) deals in investments; or • making arrangements with a view to transactions in investments; or • assisting in the administration and performance of a contract of insurance; or • advising on investments; or • agreeing to carry on a regulated activity which is within any of the above. |
| B. Market operators | Firms that have been prescribed as an operator of a prescribed market under the Financial Services and Markets Act 2000 (Prescribed Markets and Qualifying Investments) Order 2001 (SI 2001/996). |
| B. Service companies | it is a service company. |
|
Part
2
This table indicates the tariff base for each fee-block. The tariff base is the means by which we measure the 'amount of business' conducted by a firm. |
| Activity group | Tariff-base |
| A.1 |
MODIFIED
ELIGIBLE LIABILITIES
For banks: Part 1: Liabilities In sterling: £2 + £3 + £4 + £5A + £5B + £6B + £6C + £6D + £6E + £6F + £6G + £6H + £6J + £7B + £7C + £7D + £7E + £7F + £7G + £7H + £7J + £8 + £10 + 60% of £11A + £44 plus In foreign currency, one-third of: E2 + E3 + E4 + E5A + E5B + E6B + E6C + E6D + E6E + E6F + E6G + E6H + E6J + E7B + E7C + E7D + E7E + E7F + E7G + E7H + E7J + E8 + E10 + 60% of E11A + E44 + C2 + C3 + C4 + C5A + C5B + C6B + C6C + C6D + C6E + C6F + C6G + C6H + C6J + C7B + C7C + C7D + C7E + C7F + C7G + C7H + C7J + C8 + C10 + 60% of C11A: less Assets In sterling: £21B + 60% of £22A + £23D + £23E + £23F + £30A + £30B + £31A + £31B + £32AA plus In foreign currency, one-third of: E21B + 60% of E22A + E23D + E23E + E23F + E30A + E30B + E31A + E31B + E32AA + C21B + 60% of C22A + C23D + C23E + C23F + C30A + C30B + C31A + C31B + C32AA |
|
Part
2: Non-resident office offset
The fee base is adjusted by deducting from the amount calculated in accordance with part 1 above, the Non-Resident Office Offset amount obtained by subtracting item 45D from item 45BA in the Form BT. The Non-Resident Office Offset amount, if it would otherwise have been a negative number, is zero. Notes: (1) All references in the above formula are to entries on Form BT (that is, the Balance Sheet Form completed to provide information required following the Banking Statistics Review 1997 and returned by banks to the Bank of England as required by the Bank of England Act 1998). (2) 'E' refers to assets and liabilities denominated in euro (as referred to in column 2 of Form BT) and 'C' refers to assets and liabilities denominated in currencies other than sterling and euro (as referred to in column 3 of Form BT). In accordance with Form BT, assets and liabilities in currencies other than sterling are to be recorded in sterling. (3) The figures reported on the Form BT relate to business conducted out of offices in the United Kingdom. | |
|
For
e-money issuers: Outstanding balance of e-money liabilities For credit unions: Deposits with the credit union (share capital) | |
|
LESS
the credit union's bank deposits (investments + cash at bank) Note: Only United Kingdom business is relevant for calculating credit unions' MELs. | |
|
For
building societies: • deposit liabilities (including debt securities up to five years original maturity) (that is, the amounts in sterling (in column 1) and one-third of foreign currency referenced amounts (in columns 2 and 3) for items B1.1+B1.2+B2.0a+B2.0b+B2.10+B2.13+B2.14+B2.15+B2.16) LESS amounts in respect of: •sterling repo liabilities with the Bank of England (that is, ONLY the amounts in sterling (in column 5) for item B2.5a) •balances held with the Bank of England (excluding cash ratio deposits) (that is, the amounts in sterling (in column 1) and one-third of foreign currency referenced amounts (in columns 2 and 3) for item B6.2a, less the amounts in sterling (in column 1) and one-third of foreign currency referenced amounts (in columns 2 and 3) for item OW1.1) • market loans to banks, building societies (balances with and loans to, plus CDs, Commercial paper) (that is, the amounts in sterling (in column 1) and one-third of foreign currency referenced amounts (in columns 2 and 3) for items B6.3.a+B6.4.a+B6.4b+B6.5a+B6.5b+B6.12a) •investments with banks and building societies (bonds, notes and other debt instruments up to five years original maturity) (that is, the amounts in sterling (in column 1) and one-third of foreign currency referenced amounts (in columns 2 and 3) for items B6.6a1+B6.6a2+B6.10a1+B6.10a2) | |
|
Note : All references in the definition for building society MELs are to entries in the MFS1 which is submitted monthly by all building societies to the FSA. | |
| A.2 |
NUMBER
OF MORTGAGES ENTERED INTO AND ADMINISTERED
The number of new mortgage contracts entered into; AND The number of mortgage contracts being administered, multiplied by 0.5. Notes: (1) For 2004/05 and 2005/06 firms have supplied this data on their 'HSF1' or 'variation of permission' application form. (2) In this context a 'mortgage' means a loan secured by a first charge over residential property in the United Kingdom. For the measure of the number of contracts being administered, each first charge counts as one contract, irrespective of the number of loans involved. (3) Mortgages administered include those that the firm administers on behalf of other firms. |
| A.3 | GROSS PREMIUM INCOME AND GROSS TECHNICAL LIABILITIES For insurers:The amount of premium receivable which must be included in the documents required to be deposited under IPRU(INS) 9.6 in relation to the financial year to which the documents relate but disregarding for this purpose such amounts as are not included in the document by reason of a waiver or an order under section 68 of the Insurance Companies Act 1982 carried forward as an amendment to IPRU(INS) under transitional provisions relating to written concessions in SUP; |
| less, premiums relating to pension fund management business where the firm owns the investments and there is no transfer of risk; | |
|
AND
the amount of
gross technical liabilities (IPRU(INS) Appendix
9.1 - Form 15, line 19) which must be included in the documents required to
be deposited under IPRU(INS) 9.6R
in relation to the financial year to which the documents relate but disregarding
for this purpose such amounts as are not included in the document by reason
of a waiver or an order under
section 68 of the Insurance Companies Act 1982 carried forward as an amendment
to IPRU(INS) under transitional
provisions relating to written concessions in SUP; less, the amount of gross technical liabilities relating to pension fund management business where the firm owns the investments and there is no transfer of risk. | |
|
Notes : (1) in the case of either: (a) a pure reinsurer carrying on general insurance business through a branch in the United Kingdom; or (b) an insurer whose head office is not in an EEA State carrying on general insurance business through a branch in the United Kingdom; or (c) a non-EEA insurer other than a Swiss general insurer which has permission to carry on direct insurance business and which has made a deposit in an EEA state other than the United Kingdom in accordance with IPRU(INS) 8.1(2), the amount only includes premiums received and gross technical liabilities held in respect of its United Kingdom business; (2) for a Swiss general insurance company, premiums and gross technical liabilities include those relevant to the operations of the company's United Kingdombranch; and (3) a firm need not include premiums and gross technical liabilities relating to pure protection contracts which it reports, and pays a fee on, in the A.4 activity group. | |
|
For
friendly societies: Either: (a) the value of "contributions" as income under Schedule 7: Part I item 1(a) to the Friendly Societies (Accounts and Related Provisions) Regulations 1994 (SI 1994/1983) (the regulations) for a non-directive friendly society, included within the income and expenditure account; or (b) the value of "gross premiums written" under Schedule 1: Part I items I.1(a) and II.1.(a) of the regulations for a directive friendly society included within the income and expenditure account. | |
|
Note : In both (a) and (b) above only premium receivable in respect of United Kingdom business are relevant. | |
| A.4 |
ADJUSTED
GROSS PREMIUM INCOME AND MATHEMATICAL RESERVES
Amount of new regular premium business (yearly premiums including reassurances ceded but excluding cancellations and reassurances accepted), times ten; Plus amounts of new single premium business (total including reassurances ceded but excluding cancellations and reassurances accepted). Group protection business (life and private health insurance) must be included; Less premiums relating to pension fund management business where the firm owns the investments and there is no transfer of risk. For each of the above, business transacted through independent practitioners will be divided by two in calculating the adjusted gross premium income; |
|
AND
the amount of mathematical reserves (IPRU(INS) Appendix 9.1R - Form 9, Line 23) which must be included in the documents required to be deposited under IPRU(INS) 9.6R in relation to the financial year to which the documents relate but disregarding for this purpose such amounts as are not included in the document by reason of a waiver or an order under section 68 of the Insurance Companies Act 1982 carried forward as an amendment to IPRU(INS) under transitional provisions relating to written concessions in SUP; Less mathematical reserves relating to pension fund management business where the firm owns the investment and there is no transfer of risk. Notes: (1) Business conducted through an associated company should be excluded in reporting the product provider's premium income. | |
| A.5 |
ACTIVE
CAPACITY
The capacity of the syndicate(s) under management in the year in question. This includes the capacity for syndicate(s) that are not writing new business, but have not been closed off in the year in question. |
| A.6 | Not applicable. |
| A.7 |
FUNDS
UNDER MANAGEMENT (FuM)
The total value, in pounds sterling, of all assets (see note (a) below) in portfolios which the firm manages, on a discretionary basis (see note (b) below), in accordance with its terms of business, less: (a) funds covered by the exclusion contained in article 38 (Attorneys) of the Regulated Activities Order; (b) funds covered by the exclusion contained in article 66(3) (Trustees, nominees and personal representatives) of the Regulated Activities Order; (c) funds covered by the exclusion contained in article 68(6) (Sale of goods or supply of services) of the Regulated Activities Order; (d) funds covered by the exclusion contained in article 69(5) (Groups and joint enterprises) of the Regulated Activities Order; and (e) the value of those parts of the managed portfolios in respect of which the responsibility for the discretionary management has been formally delegated to another firm (and which firm will include the value of the assets in question in its own FuM total); any such deduction should identify the firm to which management responsibility has been delegated. |
|
Notes
on FuM
(a) For the purposes of calculating the value of funds under management, "assets" means all assets that consist of or include any investment which is a designated investment or those assets in respect of which the arrangements for their management are such that the assets may consist of or include such investments, and either the assets have at any time since 29 April 1988 done so or the arrangements have at any time (whether before or after that date) been held out as arrangements under which the assets would do so. (b) Assets managed on a non-discretionary basis, being assets that the firm has a contractual duty to keep under continuous review but in respect of which prior specific consent of the client must be obtained for proposed transactions, are NOT included as this activity is covered in those charged to fees in activity groups A.12 and A.13. (c) In respect of collective investment schemes, "assets" means the total value of the assets of the scheme. (d) For an OPS firm, the FuM should also be reduced by the value of the assets held as a result of a decision taken in accordance with article 4(6) of The Financial Services and Markets Act 2000 (Carrying on Regulated Activities by Way of Business) Order 2001 (investments in collective investment scheme or bodies corporate which have as their primary purpose the acquisition, directly, or indirectly, of "relevant investments", as defined in that article). (e) Only assets that are managed from an establishment maintained by the firm in the United Kingdom are relevant. | |
| A.8 | Not applicable. |
| A.9 |
GROSS
INCOME
For operators (including ACDs and managers of unit trusts): gross income from the activity relating to fee-block A.9 is defined as: • the amount of the annual charge on funds invested in regulated or unregulated collective investment scheme received or receivable in the latest accounting period (this is calculated as a % of funds invested, typically 1% p.a.); PLUS • the front-end or exit charge levied on sales or redemptions of collective investment schemes (typically 4-5% of sales/redemptions) in that same accounting period; |
|
PLUS
• any additional initial or management charges levied through a product wrapper such as a PEP or an ISA; BUT EXCLUDING box management profits. For depositaries (including trustees of collective investment schemes and ICVC depositaries): The amount of the annual charge levied on funds in regulated collective investment schemes for which they act as depositary (typically a % of the total funds for which they act as depositary). Note: Only the gross income corresponding to United Kingdom business is relevant. | |
| A.10 |
NUMBER
OF TRADERS
Any employee or agent, who: • ordinarily acts within the United Kingdom on behalf of an authorised person liable to pay fees to the FSA in its fee-block A.10 (firms dealing as principal); and who, • as part of their duties in relation to those activities of the authorised person , commits the firm in market dealings or in transactions in securities or in other specified investments in the course of regulated activities. |
| A.11 | Not applicable. |
| A.12 |
APPROVED
PERSONS
The number of persons approved to undertake one, or more, of the following customer functions: CF21 Investment adviser function; CF22 Investment adviser (trainee) function; CF24 Pension transfer specialist function; CF25 Adviser on syndicate participation at Lloyd's function; or CF26 Customer trading function. |
| A.13 |
APPROVED
PERSONS
The number of persons approved to undertake one, or more, of the following customer functions: CF21 Investment adviser function; CF22 Investment adviser (trainee) function; CF24 Pension transfer specialist function; CF25 Adviser on syndicate participation at Lloyd's function; or CF26 Customer trading function. |
| A.14 |
APPROVED
PERSONS
The number of persons approved to undertake the following controlled function: CF23 Corporate finance adviser function. |
| A.15 | Not applicable. |
| A.16 | Percentage share of the amount paid towards PIA's 2001/2002 pensions review levy by fee-payers in fee-block A.16. |
| A.17 | Not applicable. |
| A.18 |
ANNUAL
INCOME
(a) the net amount retained by the firm of all brokerages, fees, commissions and other related income (eg administration charges, overriders, profit shares) due to the firm in respect of or in relation to mortgage mediation activity (or activities which would have been mortgage mediation activity if they had been carried out after 30 October 2004); Plus (b) for any mortgage mediation activity carried out by the firm for which it receives payment from the lender on a basis other than that in (a), the value of all new mortgage advances resulting from that activity multiplied by 0.004; Plus (c) if the firm is a mortgage lender, the value of all new mortgage advances which are or would be regulated mortgage contracts if they had been made after 30 October 2004 (other than those made as a result of mortgage mediation activity by another firm), multiplied by 0.004. Notes on annual income: (1) For 2004/05 and 2005/06 firms have supplied this data on their 'HSF1' or 'variation of permission' application form. (2) For the purposes of calculating annual income, "net amount retained" means all the commission, fees, etc. in respect of mortgage mediation activity that the firm has not rebated to customers or passed on to other firms (for example, where there is a commission chain). Items such as general business expenses (eg employees' salaries, overheads) should not be deducted. (3) The firm must include in its income calculation, on the same basis as above, earnings from those who will become its appointed representatives immediately after authorisation. (4) Reference to a "firm" above also includes reference to any person who carried out activities which would be mortgage mediation activity if they had been carried out after 30 October 2004. |
| A.19 |
ANNUAL
INCOME
(a) the net amount retained by the firm of all brokerages, fees, commissions and other related income (eg administration charges, overriders, profit shares) due to the firm in respect of or in relation to insurance mediation activity (or activities which would have been insurance mediation activity if they had been carried out after 13 January 2005) in relation to general insurance contracts or pure protection contracts; Plus (b) in relation to the activities set out in (a), for any insurance mediation activity carried out by the firm for which it receives payment from the insurer on a basis other than that in (a), the amount of premiums receivable on the contracts of insurance resulting from that activity multiplied by 0.07; Plus (c) if the firm is an insurer, in relation to the activities set out in (a), the amount of premiums receivable on its contracts of insurance multiplied by 0.07, excluding those contracts of insurance which: (i) result from insurance mediation activity by another firm, where a payment has been made by the insurer to the firm under (a); or (ii) the insurer reports in, and pays a fee under, the A.4 activity group; or (iii) are not general insurance contracts or pure protection contracts. Notes on annual income: (1) For 2004/05 and 2005/06 firms have supplied this data on their 'HSF1' or 'variation of permission' application form. (2) For the purposes of calculating annual income, "net amount retained" means all the commission, fees, etc. in respect of insurance mediation activity that the firm has not rebated to customers or passed on to other firms (for example, where there is a commission chain). Items such as general business expenses (eg employees' salaries, overheads) should not be deducted. (3) The firm must include in its income calculation, on the same basis as above, earnings from those who will become its appointed representatives immediately after authorisation. (4) Reference to a "firm " above also includes reference to any person who carried out activities which would be insurance mediation activity (in respect of general insurance contracts or pure protection contracts) if they had been carried out after 13 January 2005. |
| B. Market operators | Not applicable. |
| B. Service companies | Not applicable. |
| Part 3 | This table indicates the valuation date for each fee-block. A firm can calculate its tariff data by applying the tariff bases set out in Part 2 with reference to the valuation dates shown in this table. |
| Activity group | Valuation date |
| IN THIS TABLE, REFERENCES TO SPECIFIC DATES OR MONTHS ARE REFERENCES TO THE LATEST ONE OCCURRING BEFORE THE START OF THE PERIOD TO WHICH THE FEE APPLIES, UNLESS OTHERWISE SPECIFIED - E.G. FOR 2004/05 FEES (1 APRIL 2004 TO 31 MARCH 2005), A REFERENCE TO DECEMBER MEANS DECEMBER 2003. | |
| Where a firm's tariff data is in a currency other than sterling, it should be converted into sterling at the exchange rate prevailing on the relevant valuation date. | |
| A.1 |
For
banks: Modified eligible liabilities (MELs), valued at: • for a firm which reports monthly, the average of the MELs for October, November and December; • for a firm which reports quarterly, the MELs for December. For e-money issuer: MELs, valued at the end of the financial year ended in the calendar year ending 31 December. For credit unions: MELs, valued at December or as disclosed by the most recent annual return made prior to that date. For building societies: MELs, valued at the average of the MELs for October, November and December. |
| A.2 | Number of mortgages
entered into in the twelve months ending 31 December. AND Number of mortgages being administered on 31 December. |
| A.3 | Annual gross premium income (GPI),
for the financial year ended in the calendar year ending 31 December. AND Gross technical liabilities (GTL) valued at the end of the financial year ended in the calendar year ending 31 December. |
| A.4 | Adjusted annual
gross premium income
(AGPI) for the financial year ended in the calendar year ending 31 December. AND Mathematical reserves (MR) valued at the end of the financial year ended in the calendar year ending 31 December. |
| A.5 | Active capacity
(AC), in respect of the Underwriting Year (as reported to the Society of Lloyd's) which
is current at the beginning of the period to which the fee relates. [Note: this is the Underwriting Year which is already in progress at the start of the fee period - e.g. for 2004/05 fees, the fee period will begin on 1 April 2004, which is in the 2004 Underwriting Year, so the AC for that Underwriting Year is the relevant measure.] |
| A.6 | Not applicable. |
| A.7 | Funds under management (FuM), valued at 31 December. |
| A.8 | Not applicable. |
| A.9 | Annual gross income (GI), valued at the most recent financial year ended before 31 December. |
| A.10 | Number of traders as at 31 December. |
| A.11 | Not applicable. |
| A.12 | Relevant approved persons as at 31 December. |
| A.13 | Relevant approved persons as at 31 December. |
| A.14 | Relevant approved persons as at 31 December. |
| A.15 | Not applicable. |
| A.16 | Not applicable. |
| A.17 | Not applicable. |
| A.18 | Annual income (AI) for the financial year ended in the calendar year ending 31 December. |
| A.19 | Annual income (AI) for the financial year ended in the calendar year ending 31 December. |
| B. Market operators | Not applicable. |
| B. Service companies | Not applicable. |
- 01/06/2003
SUP 20 Annex 2
Fee tariff rates, permitted deductions and EEA/Treaty firm modifications for the period from 1 April 2004 to 31 March 2005
- 01/12/2004
See Notes
| Part 1 |
| This table shows the tariff rates applicable to each fee-block. |
| (1) | For each activity group specified in the table below, the fee is the total of the sums payable for each of the tariff bands applicable to the firm's business, calculated as follows: | |
| (a) | the relevant minimum fee; plus | |
| (b) | an additional fee calculated by multiplying the firm's tariff base by the appropriate rates applying to each tranche of the tariff base, as indicated. | |
| (2) | A firm may apply the relevant tariff bases and rates to non- UK business, as well as to its UK business, if: | |
| (a) | it has reasonable grounds for believing that the costs of identifying the firm's UK business separately from its non- UK business in the way described in Part 2 of SUP 20 Annex 1 R are disproportionate to the difference in fees payable; and | |
| (b) | it notifies the FSA in writing at the same time as it provides the information concerned under SUP 20.3 (Information on which fees are calculated), or, if earlier, at the time it pays the fees concerned. | |
| (3) | For a firm which has not complied with SUP 20.3.2 R (Information on which fees are calculated) for this period: | |
| (a) | the fee is calculated using (where relevant) the valuation or valuations of business applicable to the previous period, multiplied by the factor of 1.10; | |
| (b) | an additional administrative fee of £500 is payable; and | |
| (c) | the minimum total fee (including the administrative fee in (b)) is £650. | |
| Activity group | Fee payable | |
| A.1 | Minimum fee (£) | 150 |
| £ million of Modified Eligible Liabilities (MELs) | Fee (£/£m or part £m of MELS) | |
| 0 - 0.5 | 0 | |
| >0.5 - 2 | additional flat-rate fee of £350 | |
| >2 - 10 | additional flat-rate fee of £500 | |
| >10 - 200 | 32.63 | |
| >200 - 2,000 | 32.47 | |
| >2,000 - 10,000 | 32.31 | |
| >10,000 - 20,000 | 32.16 | |
| >20,000 | 31.84 | |
| For a firm in A.1 which has a limitation on its permission to the effect that it may accept deposits from wholesale depositors only, the fee is calculated as above less 30%. In addition, the fee specified below is payable by UK banks and building societies. The wholesale depositors discount and permitted deductions in Part 2 of SUP 20 Ann 2R do not apply to this fee. | ||
| Minimum fee (£m of MELs) | Fee (£) | |
| if 0 - 2,000 | 0 | |
| if >2,000 | 2,000 | |
| £ million of MELs | Fee (£/£m or part £m of MELs) | |
| 0 -5,000 | 0 | |
| >5,000 - 10,000 | 0.93 | |
| >10,000 - 20,000 | 0.85 | |
| >20,000 | 0.79 | |
| A.2 | Minimum fee (£) | 200 |
| No. of mortgages | Fee (£/mortgage) | |
| 0 - 50 | 0 | |
| 51 - 500 | 2.08 | |
| 501 - 1,000 | 0.83 | |
| 1,001 - 50,000 | 0.62 | |
| 50,001 - 500,000 | 0.21 | |
| >500,000 | 0.04 | |
| A.3 | Gross premium income (GPI) | |
| Minimum fee (£) | 400 | |
| £ million of GPI | Fee (£/£m or part £m of GPI) | |
| 0 - 0.5 | 0 | |
| >0.5 - 2 | 1,612.24 | |
| >2 - 5 | 1,490.88 | |
| >5 - 20 | 1,369.52 | |
| >20 - 75 | 433.35 | |
| >75 - 150 | 372.73 | |
| >150 | 52.03 | |
| PLUS | ||
| Gross technical liabilities (GTL) | ||
| Minimum fee (£) | 0 | |
| £ million of GTL | Fee (£/£m or part £m of GTL) | |
| 0 - 1 | 0 | |
| >1 - 5 | 39.29 | |
| >5 - 50 | 36.33 | |
| >50 - 100 | 33.38 | |
| >100 - 1,000 | 10.56 | |
| >1,000 | 4.22 | |
| A.4 | Adjusted annual gross premium income (AGPI) | |
| Minimum fee (£) | 200 | |
| £ million of AGPI | Fee (£/£m or part £m of AGPI) | |
| 0 - 1 | 0 | |
| >1 - 50 | 700.00 | |
| >50 - 1,000 | 631.95 | |
| >1,000 - 2,000 | 418.08 | |
| >2,000 | 281.98 | |
| PLUS | ||
| Mathematical reserves (MR) | ||
| Minimum fee (£) | 200 | |
| £ million of MR | Fee (£/£m or part £m of MR) | |
| 0 - 1 | 0 | |
| >1 - 10 | 37.63 | |
| >10 - 100 | 33.97 | |
| >100 -1,000 | 22.47 | |
| >1,000 - 5,000 | 15.16 | |
| >5,000 - 15,000 | 11.55 | |
| >15,000 | 8.88 | |
| A.5 | Minimum fee (£) | 500 |
| £ million of Active Capacity (AC) | Fee (£/£m or part £m of AC) | |
| 0 - 50 | 0 | |
| >50 - 150 | 95.95 | |
| >150 - 250 | 80.75 | |
| >250 | 22.80 | |
| A.6 | £1,204,000 | |
| A.7 | For class 1(C), (2) and (3) firms: | |
| Minimum fee (£) | 1,200 | |
| £ million of Funds under Management (FuM) | Fee (£/£m or part £m of FuM) | |
| 0 - 10 | 0 | |
| >10 - 100 | 65.55 | |
| >100 - 2,500 | 20.81 | |
| >2,500 - 10,000 | 11.35 | |
| >10,000 | 1.25 | |
| For class 1(B) firms: the fee calculated as for class 1(C) firms above, less 15%. For class 1(A) firms: the fee calculated as for class 1(C) firms above, less 50%. | ||
| A.8 | This activity group does not apply for this period. | |
| A.9 | Minimum fee (£) | 1,800 |
| £ million of Gross Income (GI) | Fee (£/£m or part £m of GI) | |
| 0 - 1 | 0 | |
| >1 - 20 | 1,761.34 | |
| >20 - 500 | 1,427.02 | |
| >500 - 1,000 | 1,219.88 | |
| >1,000 | 918.36 | |
| A.10 | Minimum fee (£) | 2,100 |
| No. of traders | Fee (£/trader) | |
| 0 - 2 | 0 | |
| 3 - 5 | 1,978 | |
| 6 - 10 | 1,405 | |
| 11 - 50 | 1,277 | |
| 51 - 200 | 1,081 | |
| >200 | 864 | |
| In addition, the fee specified below is payable by UK domestic firm. The permitted deductions in Part 2 of SUP 20 Ann 2R do not apply to this fee. | ||
| Minimum fee (No. of traders) | Fee (£) | |
| if 0 - 100 | 0 | |
| if >100 | 2,000 | |
| No. of traders | Fee (£/trader) | |
| 0 -125 | 0 | |
| 126 - 250 | 70 | |
| >250 | 51 | |
| A.11 | This activity group does not apply for this period. | |
| A.12 | Minimum fee (£) | 1,650 |
| No. of persons | Fee (£/person) | |
| 0 - 1 | 0 | |
| 2 - 4 | 960 | |
| 5 - 10 | 478 | |
| 11 - 25 | 332 | |
| 26 - 150 | 178 | |
| 151 - 1,500 | 133 | |
| >1,500 | 89 | |
| For a professional firm in A.12 the fee is calculated as above less 10%. | ||
| A.13 | For class (2) firms: | |
| Minimum fee (£) | 1,560 | |
| No. of persons | Fee (£/person) | |
| 0 - 1 | 0 | |
| 2 - 4 | 850 | |
| 5 - 10 | 815 | |
| 11 - 25 | 777 | |
| 26 - 500 | 708 | |
| 501 - 4,000 | 637 | |
| >4000 | 592 | |
| For class (1) firms: £1,560 For a professional firm in A.13 the fee is calculated as above less 10%. | ||
| A.14 | Minimum fee (£) | 1,200 |
| No. of persons | Fee (£/person) | |
| 0 - 1 | 0 | |
| 2 | 1,155 | |
| 3 - 4 | 1,040 | |
| 5 - 10 | 935 | |
| 11 - 100 | 843 | |
| 101 - 200 | 590 | |
| >200 | 353 | |
| A.15 | This activity group does not apply for this period. | |
| A.16 | 0 | |
| A.17 | This activity group does not apply for this period. | |
| A.18 | Minimum fee (£) | 300 |
| £ thousands of Annual Income (AI) | Fee (£/£ thousand or part £ thousand of AI) | |
| 0 - 100 | 0 | |
| >100 - 1,000 | 2.50 | |
| >1,000 - 5,000 | 2.08 | |
| >5,000 - 10,000 | 1.67 | |
| >10,000 - 20,000 | 1.25 | |
| >20,000 | 1.04 | |
| A.19 | Minimum fee (?) | 100 |
| £ thousands of Annual Income (AI) | Fee (£/£ thousand or part £ thousand of AI) | |
| 0 - 100 | 0 | |
| >100 - 1,000 | 0.84 | |
| >1,000 - 5,000 | 0.74 | |
| >5,000 - 15,000 | 0.53 | |
| >15,000 - 100,000 | 0.21 | |
| >100,000 | 0.08 | |
| B. Market operators | £20,000 | |
| B. Service | Bloomberg LP | £31,500 |
| companies | EMX Co Ltd | £21,000 |
| LIFFE Services Ltd | £21,000 | |
| Ofex plc | £51,500 | |
| OMGEO Ltd | £21,000 | |
| Reuters Ltd | £31,500 | |
| Swapswire Ltd | £21,000 | |
| Thomson Financial Ltd | £21,000 | |
|
Part
2
This table shows the permitted deductions that apply: |
| Activity group | Nature of deduction | Amount of deduction |
| A.1 | Financial penalties received | 9.5% of the fee payable by the firm for the activity group (see Part 1) |
| A.4 | Financial penalties received | 8.8% of the fee payable by the firm for the activity group (see Part 1) |
| A.7 | Financial penalties received | 1.3% of the fee payable by the firm for the activity group (see Part 1) |
| A.10 | Financial penalties received | 1.2% of the fee payable by the firm for the activity group (see Part 1) |
| A.12 | Financial penalties received | 22.9% of the fee payable by the firm for the activity group (see Part 1) |
| A.13 | Financial penalties received | 0.9% of the fee payable by the firm for the activity group (see Part 1) |
| Part 3 | This table shows the modifications to fee tariffs that apply to incoming EEA firms and incoming Treaty firms. |
| Activity group | Percentage of tariff payable under Part 1 applicable to the firm subject to a minimum amount payable of £100 (unless specified below) |
| A.1 | 20% (for a firm operating on cross-border services basis only, 0% and the minimum sum is not applicable) |
| A.3 | 0% and the minimum sum is not applicable |
| A.4 | 75% |
| A.7 and A.9 | 95% |
| A.10, A.12, A.13 and A.19 | 90% |
- 17/12/2004
SUP 20 Annex 3
Transaction reporting fees and Article 54 RAO certificate fees for the period from 1 April 2004 to 31 March 2005
- 01/12/2004
See Notes
| Part 1 | This table shows the fees payable for transaction reporting. |
| Fee type | Fee amount (including VAT) | Date payable | |
| Transaction charge | Number of transactions per annum | Fee per transaction (inc.VAT) | First working day of each month |
| For the first 1,000 | 0p | ||
| 1,001 - 1,000,000 | 3p | ||
| 1,000,001 - 4,000,000 | 2.75p | ||
| 4,000,001 - 8,000,000 | 2.5p | ||
| 8,000,001 - 13,000,000 | 2.25p | ||
| 13,000,001 - 20,000,000 | 2p | ||
| >20,000,000 | 1.75p | ||
| Notes: | 1. | Firms using the Direct Reporting System software will be additionally invoiced for: (a) an initial software licence fee of £587.50 (including VAT); and (b) an annual enrolment fee of £235 (including VAT) per licence held on 1 April each year. | |
| 2. | The applicable methods of payment of these fees are listed at SUP 20.2. | ||
| Part 2 | The periodic fee payable under SUP 20.6.1 R for a certificate issued under Article 54 of the Regulated Activities Order is £1,000. |
- 01/06/2004