| Link(s): | SUP 6.4 Applications for cancellation of permission – FCA Handbook FEES 4.3 Periodic fee payable by firms (other than AIFM qualifiers, ICVCs and UCITS qualifiers) – FCA Handbook |
Context
The FCA has reminded firms that if they are looking to cancel their FCA authorisation they should aim to do so before 31 March 2024, in order to avoid having to pay the annual FCA fees for the following year.
Key points to note and next actions
If firms submit their cancellation application to the FCA before 31 March 2024 (or before the last day in February, for firms also regulated by the PRA), then they will not have to pay the annual fee for the following financial year. If, however, your firm’s business continues to operate for 3 months beyond this deadline – for example 30 June – then they will be expected to pay the annual fee for the financial year.