Published on 2 July 2014
Prudential Regulation Authority - Regulated fees and levies: rates for 2014/15 - PS6/14
In April 2014 the Prudential Regulation Authority (PRA) consulted on the regulatory fees and levies for the fee year 2014/15 to support the PRA’s strategic priorities and business aims. This policy statement sets out:
- the PRA’s Final Annual Funding Requirement (AFR) and Special Project Fees for Solvency II for 2014/15;
- allocation of the AFR to fee blocks and final tariff rates for 2014/15; and
- the refund of the underspend for 2013/14.
The PRA received a number of responses to the consultation, primarily from trade bodies and firms representing the insurance industry, credit unions and building societies. Having carefully considered the feedback the PRA deems that the rules set out in this policy statement are appropriate for the PRA to effectively perform its functions. One amendment has been made to the rules in relation to the refund of the underspend for the prior year.
Published on 2 April 2014
Prudential Regulation Authority - Regulated fees and levies: rates proposals 2014/15 - CP8/14
This consultation paper sets out:
- proposed fee rates to meet the Prudential Regulation Authority’s Annual Funding Requirement for the financial period from 1 March 2014 to 28 February 2015 for dual regulated FCA/PRA firms; and
- the policy statement following CP10/13 to make new fee rules for 2014/15. This consultation paper sets out the proposed changes to the Prudential Regulation Authority (PRA) fee policy.
Summary of the key issues covered by the consultation paper
The consultation seeks views on the PRA’s proposed:
- annual funding requirement for the 2014/15 fee year;
- allocation of costs to fee blocks;
- non-IMAP Solvency II Special Project Fee for 2014/15; and
- changes to Special Project Fee staff recharge rates to accurately reflect the cost of PRA supervision.
The proposals were subject to a consultation period of two months and closed on 30 May 2014.