The FCA has updated its webpage on Consultation Paper 14/6: FCA Regulated fees and levies: rates proposals 2014/15 (CP14/6). In CP14/6, the FCA covers proposed 2014/15 regulatory fees and levies for itself, the Financial Ombudsman Service and Money Advice Service.
The updated webpage now contains an “errata” which notes that there were two errors where the instruments do not reflect the FCA’s policy as described in the feedback to the consultation. The FCA will make the necessary corrections through an Administration Instrument in June:
- Appendix 2: Fees (Consumer Credit No 2) Instrument 2014 (FCA 2014/19). In this case, FEES 4, Annex 13G, Table 2, paragraph (7)(c) should be deleted to reflect the FCA’s statement in paragraph 6.31 of CP14/6 that interchange charges have been excluded from the definition of consumer credit income. In addition, paragraph (7)(b) should be amended to read “… arrangement fees and credit card charges.”; and
- Appendix 3: Fees (Miscellaneous Amendments) (No 7) Instrument 2014 (FCA 2014/18). In this case, FEES 3, Annex 7R should not be deleted since the FCA states in paragraph 8.18 (the errata incorrectly refers to paragraph 8.17) of CP14/6 that it will retain the hourly charge for testing carried out when individual approved reporting mechanisms make changes to their systems as consulted in October 2008.
View Consultation Paper 14/6: FCA regulated fees and levies: rates proposals 2014/15, 31 March 2014