UK FCA consults on regulatory fees and levies policy proposals for 2026/27

The UK Financial Conduct Authority (FCA) has published consultation paper CP25/33 outlining its proposed changes to the fees and levies framework ahead of the 2026/27 fee cycle. The consultation paper is structured as follows:

• Chapter 2 sets out proposed changes to the fees manual of the FCA Handbook (FEES). These cover, among other things, introducing the Private Intermittent Securities and Capital Exchange System (PISCES) periodic fee, targeted support fees and levies, cryptoasset firms' application fees and deferred payment credit (often called buy-now, pay-later) fees and levies.
• Chapter 3 sets out proposed changes to FEES 5 (regarding the UK Financial Ombudsman) and FEES 6 (regarding the UK Financial Services Compensation Scheme).
• Chapter 4 sets out joint proposals with the UK Prudential Regulation Authority (PRA) to amend invoice due dates for firms which pay GBP50,000 or more in FCA and/or PRA fees in a year (referred to as "payments on account").
• Chapter 5 provides updates on various areas of fee policy, including section 166 costs for motor finance firms, pro-rating fees for firms which cancel their permissions, and technical changes to the financial penalty scheme. The FCA also confirms that it does not propose to charge fees to incoming Swiss firms for regulated activities they perform under the Berne Financial Services Agreement.

The deadline for responses is 9 January 2026 for targeted support proposals and 16 January 2026 for all other proposals.

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