PRA consults on fees and levies

The PRA has published a consultation paper on regulated fees and levies: rates proposals 2016/17 – CP10/16. This consultation paper (CP) consults on proposals for the PRA’s fees and levies for 2016/17. The consultation is relevant to all PRA-authorised firms.
The CP includes:

(a) the fee rates to meet the PRA’s 2016/17 Annual Funding Requirement (AFR);

(b) proposed rules for introducing a ring-fencing implementation fee;

(c) how the PRA intends to distribute a refund from the 2015/16 AFR and the retained penalties for 2015/16;

(d) a consequential amendment to the fees rules as a result of recent policy changes for credit unions.

The consultation closes on Tuesday 24 May 2016. The PRA statement and the consultation paper can be found here.

Lavanya Rathnam

Lavanya Rathnam is an experienced technology, finance, and compliance writer. She combines her keen understanding of regulatory frameworks and industry best practices with exemplary writing skills to communicate complex concepts of Governance, Risk, and Compliance (GRC) in clear and accessible language. Lavanya specializes in creating informative and engaging content that educates and empowers readers to make informed decisions. She also works with different companies in the Web 3.0, blockchain, fintech, and EV industries to assess their products’ compliance with evolving regulations and standards.

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