CP22/23: Regulatory fees and levies: policy proposals for 2023/24

Read CP22/23 (PDF)[1]

Why we are consulting

We are funded entirely by fees and levies from the firms we regulate and we do not receive any funding from other sources. We are setting out our approach to setting fees for 2023/24 and we provide updates on some fees policy topics. We also propose a new application fee for financial promotions and some changes to the fees paid by data reporting service providers, trade repositories and securitisation repositories. 

Who this is for

• all FCA fee payers
• any businesses considering applying for FCA authorisation or registration

Each chapter deals with a specific policy area and identifies the bodies it will affect.
This CP is not directly relevant to retail financial services consumers, although our fees are indirectly paid by users of financial services.

Next steps

This consultation has now closed. We will publish feedback on responses and issue a Policy Statement in July 2023 once we have reviewed your comments.

Background

Our fees consultation follows an annual cycle. 

• From October to November we consult on any changes to our policy on how we raise fees and levies. 
• In January we consult on the Financial Services Compensation Scheme (FSCS) management expenses levy limit (MELL), a joint consultation with the Prudential Regulation Authority (PRA). 
• In April we consult on FCA periodic fees rates for the next financial year (1 April to 31 March) and any proposed changes to application fees or other fees. We also consult on the Financial Ombudsman Service general levy, the Single Financial Guidance Body levies and illegal money-lending levies for the next financial year.  
• In June or July – we publish feedback on responses received to the April CP with final fees and levy rates in a policy statement.