On 17 April 2019, the FCA published Consultation Paper 19/16: FCA regulated fees and levies: rates proposals 2019/20 (CP19/16). In CP19/16 the FCA consults on its periodic fees for the next financial year (1 April 2019 to 31 March 2020) and any proposed changes to application fees and other fees. The FCA also consults on the Financial Ombudsman Service (FOS) general levy, Money and Pensions Service (MPS), Devolved Authorities (DAs) and illegal money-lending levies for the next financial year.
Table 1.1 in chapter 1 of CP19/16 will help firms identify which chapters relate to them.
In relation to Brexit, the FCA sets out in chapter 3 of CP19/16 a proposal for the basis that firms in the temporary permissions regime and financial services contracts regime will pay fees in 2019/20.
The FCA also provides a fee calculator to enable firms to calculate their periodic fees for the forthcoming year. This will be based on the draft FCA periodic fees and the FOS, MPS, DAs and illegal money lending levy consultative rates in Appendix 1 and 2 of CP19/16.
The deadline for comments on CP19/16 is 29 May 2019.