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Home > Prudential Regulation Authority > Regulated fees and levies: rates proposals 2017/18 – CP4/17
 

Regulated fees and levies: rates proposals 2017/18 – CP4/17

24 March 2017

Background

This consultation paper (CP) consults on proposals for the PRA’s fees and levies for 2017/18.

The consultation is relevant to all firms that currently pay PRA fees or are expecting to do so within the 2017/18 fee year.

Overview

The proposals in the CP include:

  • the fee rates to meet the PRA’s 2017/18 Annual Funding Requirement (AFR);
  • amendments to the definition of the general insurer (A3) fee block concerning insurance special purpose vehicles (ISPVs);
  • amendments to the ring-fencing implementation fee rules;
  • rules for introducing an International Financial Reporting Standard (IFRS) 9 implementation fee;
  • amendments to the rules and supervisory guidance concerning Special Project Fees (SPF) for restructuring;
  • amendments to the rules and supervisory guidance concerning regulatory transaction fees;
  • how the PRA intends to manage a shortfall from the 2016/17 AFR and distribute a surplus on the ring-fencing implementation fee; and
  • how the PRA intends to distribute the retained penalties for 2016/17.

Update 19 April 2017: In paragraph 1.4 of CP4/17 the PRA stated it would issue an updated CP if the final estimate of the PRA's pension costs varied more than £2 million from the stated cost. The variance is less than the £2 million figure and so the PRA will not be issuing an updated CP.

Response

The consultation closed on Wednesday 24 May 2017. Please address any comments or enquiries to CP4_17@bankofengland.co.uk

Feedback on the consultation and final rules will be published in a policy statement in July 2017.

Consultation Paper

Regulated fees and levies: rates proposals 2017/18 – CP4/17

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