The Bank of England (BoE) and HM Treasury have co-published a consultation paper concerning the fee regime for financial market infrastructure supervision 2018/19.

The consultation relates to the development of the BoE’s proposal to introduce a new funding structure for the supervision of financial market infrastructures and service providers to recognised payment systems. HM Treasury is conducting the consultation with the BoE as it is consulting on a statutory instrument. In order for the BoE to levy fees on payment system operators and service providers, HM Treasury must lay a statutory instrument approving the scale of fees the BoE can levy.

The consultation paper is in three parts: (i) feedback on proposals that the BoE published last year; (ii) details of the proposed fee levying regime, building on the earlier proposals; (iii) consultation on HM Treasury’s statutory instrument which sets out the scale of fees to which fees levied on recognised payment systems and specified service providers must relate.

The deadline for comments is 9 May 2018.