On 13 November 2019, the FCA published Consultation Paper 19/30: FCA regulated fees and levies: rates proposals 2020/21 (CP19/30). In CP19/30 the FCA consults on its periodic fees for the next financial year (1 April 2020 to 31 March 2021) and any proposed changes to application fees and other fees. The FCA also consults on the Financial Ombudsman Service general levy, Money and Pensions Service, Devolved Authorities and illegal money-lending levies for the next financial year.
The proposals in CP19/30 apply to all FCA fee-payers and will also apply to: (i) cryptoassets businesses; and (ii) proxy agents, who will be coming under FCA supervision in the coming year.
Table 1.1 in chapter 1 of CP19/30 will help firms identify which chapters relate to them.
The deadline for comments on CP19/30 is 13 January 2020. The FCA intends to publish its feedback, together with its final rules, in a Handbook Notice in February or March 2020