FSA is consulting on changes to its fee policy for the next year. Its main proposals are:
- to change how firms tell FSA of their projected data when they get authorised or extend their permission, to try to make the fees more reflective of true business levels;
- to put MTF operators in the same fee block as RIEs and RCHs (and to increase application fees for MTF operators);
- to charge fees to cover the cost of system tests on the SABRE II reporting mechanism but to reduce them where firms use the TRS;
- to introduce new fee categories for UKLA business;
- to continue the special project fee for Solvency II;
- to change the basis of calculation of, and therefore lower the FOS levy for, e-money issuers; and
- to outline plans for recovering fees relating to the PSD, Dormant Bank and Building Society Accounts Act and other special project fees.
FSA wants comments by 16 January, except for on its future plans. For these, it needs comments by 31 December as it wants to consult further in February.