The FCA has advised upcoming changes to authorisation application fees as follows:
“On 24 January we’ll be simplifying our authorisation application fees including Variation of Permission. Today we’ve published Policy Statement 22/1, which follows our consultation in November 2020 and feedback on the responses in April 2021. We’ll be introducing fewer pricing categories.
The changes include the introduction of:
- A lower charge when firms that apply for the credit-related permissions of debt counselling and debt adjusting request restrictions on their permitted activity because it is ancillary to their main business.
- A charge for lead generator Claims Management Companies applying for permission to seek out people who may have a claim.
Further work is required before we introduce the new charge of £250 for stand-alone long Form A applications both for Senior Manager Functions and for Controlled Functions for Appointed Representatives. This change was part of our consultation. We’ll still be introducing that fee and will update you on our plans in due course.”
A summary of the changes can be found here and the full Policy Statement (PS22/1) is here.
General Insurance Pricing Rules – Compliance with ICOBS 6B Attestation
Paul Caine Compliance Conduct, email, FCA, scam, Senior Manager, Update
The FCA is requesting that firms who have general insurance permissions (and premium finance providers), complete an online survey in relation to compliance with ICOBS 6B attestation. The deadline for submission is 31 March 2022, and attestation will need to be made by all firms who operate with the above permissions on a periodic basis. […]