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FCA consultation CP19/24: recovering the costs of OPBAS

FCA consultation CP19/24: recovering the costs of OPBAS

Background

  • CP19/24: Recovering the costs of OPBAS: feedback on CP19/13 and consultation on fee-rate for 2019/20
  • Published by the FCA on 29 July 2019
  • In this consultation paper, the FCA feeds back on the outcome of the consultation it conducted in March 2019 (CP19/13) on the structure of fees for recovering the costs of establishing and running the Office for Professional Body Anti-Money Laundering Supervision (OPBAS).
  • The FCA also set the fee rate for 2018/19 in CP19/13 and is consulting on the fee rate for 2019/20.

Impacts

This CP applies to the PBSs listed in Schedule 1 of the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 and any other professional bodies considering applying to be listed.

It will also be of interest to designated professional bodies.

Timeline with relevant dates to be logged on regulatory calendar

  • Consultation opens on 29 July 2019
  • Consultation closes on 25 September 2019

Next steps

All respondents need to send comments to the FCA.