The FSA has published Consultation Paper 08/2: Regulatory fees and levies - Rates proposals 2008/09 and feedback on CP07/19 (CP08/2). CP08/2 is the FSA’s annual consultation on regulatory fees and levies. It also includes further consultation on policy proposals on fees and levies that were raised in Consultation Paper 07/19: Regulatory fees and levies - Policy proposals for 2008/09 (CP07/19).
The FSA is consulting on the fees and levies that it intends to raise for itself, the Financial Services Compensation Scheme (FSCS) and the Financial Ombudsman Service (FOS) in 2008/09. There are two consultation periods in CP08/2 which are 29 February 2008 and 28 March 2008. The FSA has set out the relevant closing date alongside each proposal. In the light of consultation responses and subject to FSA Board approval, the FSA will finalise:
- The FSCS management expenses levy limit, the first fee instalment for Designated Professional Bodies and UK recognised bodies in March 2008.
- The remaining fees and levies rates proposals in CP08/2 in May 2008.
- The fees policy proposals, which the FSA consulted on in CP07/19 and provide feedback on responses in CP08/2, in March 2008.
- The fees policy proposals, which the FSA consults on in CP08/2, in May 2008.
Fee payers will be invoiced from March 2008 for on account payments (see Chapter 2 of CP08/2) and other firms from June 2008 onwards on the basis of the new fees, levies and policy changes.