Fees: PRA approach and application

Supervisory Statement 3/16

Update 13 June 2019

This Supervisory Statement (SS) was updated following the publication of PS12/19 ‘Regulated fees and levies: Rates proposals 2019/20’, and takes effect from Monday 1 July 2019.

Update 13 February 2019

This Supervisory Statement (SS) was updated following the publication of PS3/19 ‘PRA fees and levies: Changes to periodic and transaction fees’, and takes effect from Friday 1 March 2019.

SS3/16 was updated alongside the publication of PS17/17 ‘Regulated fees and levies: rates for 2017/18’. This version of SS3/16 updates the version issued on 26 February 2016.

Published on 28 February 2016

This supervisory statement is addressed to all Prudential Regulation Authority (PRA) authorised firms and anyone seeking to become PRA-authorised. It should be read alongside the Fees Part of the PRA Rulebook (the ‘Fees Part’ or ‘Fees’). 

The PRA consults annually on fee rates with the publication of a consultation paper (CP). Feedback on the proposals in the CP is then published in a policy statement (PS), together with the final rule-making instrument and any agreed policy. 

The PRA’s fee year is twelve months from 1 March to the end of February in the following year. New fee rates are consulted on in March to take effect from 1 March in each year.

Current version

Published: 13 February 2019

This SS was updated following publication of PS3/19 ‘PRA fees and levies: Changes to periodic and transaction fees’.

Effective from: 1 March 2019

Future version

Published: 13 June 2019

This SS was updated following publication of PS12/19 ‘Regulated fees and levies: Rates proposals 2019/20

Effective from: 1 July 2019

Past version

Published: 6 July 2017

This SS was updated following publication of PS17/17 ‘Regulated fees and levies: rates for 2017/18’.

Effective from: 6 July 2017 (superseded on 1 March 2019 by February 2019 version)

Published: 28 February 2016

Initial publication, following publication of PS7/16 ‘The PRA Rulebook: Fees’.

Effective from: 1 March 2016 (superseded on 6 July 2017 by July 2017 version).

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