On 19 November 2020, the FCA published Consultation Paper 20/22: Regulatory fees and levies: policy proposals for 2021/22 (CP20/22).
In CP20/22 the FCA sets out proposed policy changes to the way it will raise its fees from 2021/22.
Each chapter of CP20/22 deals with a self-contained area of policy, summarised below.
- Chapter 2 sets out proposals to revalorise and simplify all FCA authorisation application fees and introduce some new transaction fees.
- Chapter 3 proposes the structure of periodic fees for crypto-asset businesses.
- Chapter 4 sets out the FCA’s proposals for the third stage of its consultation to introduce income to calculate periodic fees for firms that operate multilateral trading facilities (MTFs) and organised trading facilities (OTFs). MTF and OTF regulated activities are covered by a sub-set of the market infrastructure provider B fee-block.
The deadline for comments on CP20/22 is 22 January 2021.