Full Handbook
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FEES
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2
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2
Late Payments
FEES 2.2.1 
01/07/2011If a person does not pay the total amount of a periodic fee (including fees relating to1 2transaction reports21 to the FSA using the 3FSA's Transaction Reporting System (see SUP 17))4, FOS levy5, 6, or share of the FSCS levy or CFEB levy7, 3before3 the end of the3 date on which it is due, under the relevant provision in FEES 4, 5,76 or 7, 7that person must pay an additional amount as follows: (1) if the fee was not paid in full before the end of the due date, an administrative fee of £250; plus
(2) 3interest on any unpaid part of the fee at the rate of 5% per annum above the Bank of England's repo rate from time to time in force, accruing on a daily basis from the date on which the amount concerned became due.
FEES 2.2.2 
01/07/2011The FSA, (for periodic fees, FOS and FSCS levies and CFEB levies),7 75, 6 expect to issue invoices at least 30 days before the date on which the relevant amounts fall due.5, 6 Accordingly it will generally be the case that a person will have at least 30 days from the issue of the invoice before an administrative fee becomes payable3.Recovery of Fees
FEES 2.2.3 01/07/2011Paragraph 17(4) and paragraph 19B7 of Schedule 1 to7 and section 99(5)7 of7 the Act permit the FSA to recover fees (including fees relating to payment services,8, the issuance of electronic money9 and, where relevant, FOS levies and CFEB levies7), and section 213(6) permits the FSCS to recover shares of the FSCS levy payable, as a debt owed to the FSA and FSCS respectively, and the FSA and the7 FSCS, as relevant, will consider taking action for recovery (including interest) through the civil courts. 75, 6FEES 2.2.4 01/07/2011In addition, the FSA may be entitled to take regulatory action in relation to the non-payment of fees7,7 FOS levies7 and CFEB levies. The FSA7 may also take regulatory action in relation to the non-payment of5, 6 a5, 6 share of the FSCS levy, after reference of the matter to the7 FSA by75, 6 the7 FSCS5, 6. What action (if any) that is taken by the FSA will be decided upon in the light of the particular circumstances of the case.
