Harshil PatelPRA has issued a consultation paper setting out proposals for its fees for 2022/23.
The proposals include:
- the fee rates to meet the PRA’s 2022/23 AFR;
- fees applicable to firms in the temporary regimes;
- changes to the internal model application fees and the model maintenance fee;
- changes to the special project fees for restructuring fees; and
- setting out how the PRA intends to distribute a surplus from the 2021/22 AFR (Chapter 3); and the retained penalties for 2021/22 (Chapter 4).
Overall, the PRA considers it to be necessary to amend firms’ fees where needed, to continue to:
- enable the PRA to meet expenses incurred to carry out its functions (as well as any incidental purposes);
- repay principal of/interest on any relevant borrowing; and
- maintain adequate reserves.
The increases are generally reflected in an 8.6% arise across all key categories of firm.
The consultation closes on 20 May 2022.
