On 7 July 2020, the PRA published Policy Statement 16/20 ‘Regulated fees and levies: rates for 2020/21’ (PS16/20). In PS16/20 the PRA provides feedback to the responses received to Consultation Paper: 4/20 ‘Regulated fees and levies: Rates proposals 2020/21’ (CP4/20).

The PRA received five responses to CP4/20. No changes have been made to the proposals outlined in CP4/20 as a result of these responses.

PS16/20 contains the PRA’s final policy, as follows:

  • The fee rates to meet the PRA’s 2020/21 Annual Funding Requirement (AFR) for the financial period 1 March 2020 to 28 February 2021.
  • Amendments to the Fees Part of the PRA Rulebook (Appendix 1).
  • Updates to Supervisory Statement 3/16 ‘Fees: PRA approach and application’ (SS3/16) (Appendix 2).

The updates apply from 7 July 2020.