Questions relating to UKLA and FRC

Doing business with the FSA
- Being regulated
  - Paying fees
    - Frequently asked questions
      - Questions relating to UKLA and FRC

This page contains information on fees for our function as the UK Listing Authority (UKLA), and the Financial Reporting Council (FRC) levy.

UKLA fees and FRC levy

Where can I find information on Vetting and Applications fees?

The rules and guidance on UKLA fees are in the Fees Manual (FEES). The relevant sections are FEES 3.2.7R, FEES 3 Annexes 4R and 5R, FEES 4.2.11R and FEES 4 Annexes 7R and 8R. You can also find further information on our UKLA fees page.

What is the eligibility fee for?

For potential new applicants to the Official List, we carry out work before documents are submitted for vetting. The eligibility fee reflects the use of our resources to determine an issuer's eligibility for listing.

How do I pay vetting and application fees?

Please see the 'methods of payment' page for details of how to pay. Electronic payments must be accompanied by a payment form faxed to the UKLA.

I am a non-listed issuer. Will I have to pay a fee?

Since 1 July 2005 non-listed issuers that have been admitted to trading on a UK Regulated Market must pay an annual fee to the FSA. This fee relates to their obligations arising purely under the Disclosure Rules.

The annual fee payable is 80% of the tiered annual fee that would be payable if you were an issuer of listed securities. The figure shown on your invoice is the final figure you must pay.

Non-listed issuers' annual fees are pro-rated, depending on the quarter in which trading began.

What is the Financial Reporting Council (FRC) levy?

The FRC is the UK's independent regulator for corporate reporting and governance. The FRC levies insurance companies and pension schemes in relation to its responsibilities for actuarial standards and regulation.

The FRC's core operating costs in relation to its accounting, auditing and corporate governance responsibilities are funded in equal proportions by the accountancy profession, the business community and the government.

The business community's share of FRC's operating costs is raised by means of an annual business levy. We collect this levy on behalf of the FRC, at the same time as we invoice fee payers for their periodic fees. This affects issuers of securities and life and general insurance companies. The FRC is accountable for the amount of its levy and the the amounts are shown separately on the FSA invoices.