The Financial Conduct Authority (FCA) will take over the regulation of consumer credit from the Office of Fair Trading (OFT) on 1 April 2014. The FCA has made proposals, in the regulatory fees and levies: policy proposals for 2014–15, in relation to its fees when the FCA’s consumer credit regime comes into effect.
Both interim permission holders and new applicants will need to pay application fees and periodic fees.
Firms applying for limited permission will be charged £100 if their consumer credit income is up to £50,000 and larger firms will be charged £500. There will be no charge if firms apply for further limited permissions…
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