| Link(s): | CP22/23: Regulatory fees and levies: policy proposals for 2023/24 | FCA CP22/23: Regulatory fees and levies: policy proposals for 2023/24-PDF (fca.org.uk) |
Context
The FCA has published its 2023/24 fees and levies proposals in Consultation Paper CP22/23.
Key points to note
The main issues to note are that the FCA:
- Will limit the annual Ongoing Regulatory Activities budget (ORA) increase to the December 2022 consumer price index (CPI) figure, in an effort to keep the ORA flat in real terms;
- Is considering freezing again the minimum and flat rate fees;
- Is unlikely to increase application fee rates in 2023/24;
- Will maintain the current annual fees for each AR / IAR for 2023/24 (£266 and £80 per AR / IAR);
- Is proposing a category 5 (£5,000) application fee for a proposed new Permission of undertaking financial promotions on behalf of unauthorised businesses.
Next actions
None – for information and awareness.