This consultation paper sets out the proposed changes to the Prudential Regulation Authority (PRA) fee policy for the financial period from 1 March 2014 to 28 February 2015 for dual regulated Financial Conduct Authority (FCA)/PRA firms.
Summary of the key issues covered by the consultation paper
The consultation seeks views on the PRA’s:
- Basis for reviewing the minimum fee each year;
- Proposal to continue to levy a Special Project Fee (SPF) in relation to the work required to implement the remainder of the Solvency II Directive;
- Intention to review the level of and methodology to levy application fees for new and existing firms prior to the April fees rates consultation;
- Proposed changes to Special Project Fee staff recharge rates to accurately reflect the cost of PRA supervision; and
- Plan to make rule amendments as a consequence of changes proposed by the FCA which affect shared FCA/PRA.
This consultation closed on 30 December 2013.