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CP22/7 Proposed increase to annual AR & IAR fees

Apr 28, 2022 | Consultation Paper, FCA

Link(s):https://www.fca.org.uk/publication/consultation/cp22-7.pdf

Context

This item is an update to the item we included within our 15th April update. As part of its fees and levies Consultation Paper the FCA is proposing to increase annual fees for Appointed Representatives (ARs) and Introducer Appointed Representatives (IARs).

Key points to note

  • Whilst there is no specific commentary on these proposals there are tables included within the Consultation Paper about the A.22 fee block (the fee block for Principals with ARs and IARs).
  • The fee itself is confirmed in the tables in the draft Rules at the end of the Consultation Paper.
  • Table 3.3 on page 18 indicates that the A.22 fees need to increase by 14.8%. The draft rules confirm that the proposal is that the AR fee will go up to £287 from £250 (14.8% increase), with the IAR fee going up to £86 from £75 (14.7% increase).

Next actions

This Consultation is open until 12th May; in the meantime, any firms who act as Principals to ARs or IARs will need to budget for this potential increase in fees.