Investment business fees for 2021-22 published following consultation
We are changing the way we charge fees for investment businesses, after consulting Industry earlier this year.
In March, we issued a consultation paper asking for feedback on two proposals for how we approach fees:
- Option one: Retain the existing approach of calculating fees based on the current number of employees within a business.
- Option two: Move to calculating fees based on the average number of employees within a business. This is the approach we recently introduced for fees for trust company business and designated non-financial businesses and professions (DNFBPs).
We also proposed introducing a transaction fee for when an investment business is acquired and an alteration fee for adding, amending, or removing licence conditions, or licence classes.
We received seven responses to our consultation paper, which we have summarised in our feedback paper. We would like to thank all respondents for sharing their views with us.
We are proceeding with the proposed transaction and alteration fees and the new fee structure outlined in option two.
We have published the 2021-22 fees notice for investment businesses and will notify businesses when their fee invoices are ready in their myJFSC account.