DISP 5
Funding Rules
DISP 5.1
Application
- 01/12/2004
DISP 5.1.1
See Notes
This
chapter applies to:
(1) every firm which is subject to the Compulsory Jurisdiction of
the Financial Ombudsman
Service; and
(2) every other person who is subject to the Compulsory Jurisdiction in
relation to relevant complaints.
- 01/04/2002
DISP 5.1.2
See Notes
The relevant provisions of DISP 5 are applied to VJ
participants by the standard
terms (see DISP 4).
- 01/04/2002
DISP 5.1.3
See Notes
References in this chapter to "firms" are to be construed,
where relevant, as including:
(1) in accordance with the Ombudsman Transitional Order, unauthorised persons subject
to the Compulsory Jurisdiction in
relation to relevant complaints (see
Transitional Provisions 6 and 7); and
(2) as a result of section 226 of the Act, unauthorised persons who were formerly firms in respect of complaints
about acts or omissions which occurred at the time when they were firms, provided that the Compulsory Jurisdiction rules
were in force in relation to the activity in question.
- 01/04/2002
Exemption
DISP 5.1.4
See Notes
- 01/04/2002
DISP 5.1.5
See Notes
A firm which
ceases to be exempt under DISP 5.1.4 is to be treated, for the purposes of
its contribution to the general
levy, as a firm to
which DISP
5.9 applies.
- 01/04/2002
DISP 5.1.6
See Notes
A firm which
becomes exempt under DISP
5.1.4 R during
the course of a financial
year is to be treated for the purposes of its contribution to
the general levy,
as a firm to
which DISP
5.10 applies.
- 01/04/2002
DISP 5.2
Purpose
- 01/12/2004
DISP 5.2.1
See Notes
The purpose of this chapter is to set
out the requirements on firms to
pay annual fees (through a general
levy and supplementary
levy invoiced and collected by the FSA on behalf of FOS Ltd) and case fees (invoiced and collected
directly by FOS Ltd)
in order to fund the operation of the Financial
Ombudsman Service. This chapter also contains a requirement
on firms to
pay a supplementary levy towards
the costs of establishing the Financial
Ombudsman Service. It
also provides for unauthorised
persons to pay case fees to FOS Ltd in respect of any relevant complaints which it handles.
- 01/04/2004
DISP 5.3
Introduction
- 01/12/2004
DISP 5.3.1
See Notes
Paragraph 9 of Schedule 17 to the Act (The Ombudsman Scheme)
requires FOS Ltd to
adopt an annual budget which has been approved by the FSA. The annual budget must distinguish between the
costs of operating the Compulsory
Jurisdiction and the Voluntary
Jurisdiction.
- 01/04/2002
DISP 5.3.2
See Notes
Section 234 of the Act (Industry Funding) enables the FSA to require the payment
to it or to FOS Ltd,
by firms or
any class of firm,
of specified amounts (or amounts calculated in a specified way) to cover the
costs of:
(1) establishing the Financial Ombudsman Service; and
(2) its operation in relation to the Compulsory Jurisdiction.
- 01/04/2002
DISP 5.3.3
See Notes
Paragraph 15 of Schedule 17 to the Act enables FOS Ltd to require firms subject to the Compulsory Jurisdiction and
any other respondents to a complaint to pay specified fees to it in respect
of complaints closed by the Financial
Ombudsman Service.
- 01/04/2002
DISP 5.3.4
See Notes
The Ombudsman
Transitional Order provides for unauthorised persons to be charged fees
in respect of any relevant
complaints against them which the Financial Ombudsman Service handles.
- 01/04/2002
DISP 5.3.5
See Notes
Paragraph 18 of Schedule 17 to the Act enables FOS Ltd to require VJ participants to pay
to it such amounts at such times as it specifies in the standard terms.
- 01/04/2002
DISP 5.3.6
See Notes
The relevant provisions of these rules
will be applied to VJ
participants through the standard
terms made by FOS
Ltd under paragraph 18 of Schedule 17 to the Act (see DISP 4).
- 01/04/2002
DISP 5.3.7
See Notes
This chapter sets out the framework for
the funding arrangements of the Financial
Ombudsman Service, including the method by which fees will be
calculated. Details of the actual fees payable will vary from year to year,
depending on the annual budget of the Financial
Ombudsman Service. These details will be set out in an annex
to this chapter (DISP 5 Annex 1R R).
A new annex will be prepared and consulted on for each financial year.
- 01/04/2002
DISP 5.4
The general levy
- 01/12/2004
DISP 5.4.1
See Notes
Each financial year, the FSA and FOS
Ltd will consult on the amount of the annual budget of the Financial Ombudsman Service which
is to be raised by the general
levy.
- 01/04/2002
DISP 5.4.2
See Notes
For the purposes of the general levy, a firm will fall into one
or more of the industry
blocks set out in DISP 5 Annex 1R R depending
on the business activities which it conducts.
- 01/04/2002
DISP 5.4.3
See Notes
The FSA will
determine, following consultation, the amount to be raised from each industry block. This will
be based on the budgeted costs and numbers of Financial Ombudsman Service staff required
to deal with the volume of complaints which the Financial Ombudsman Service expects to receive
about the firms in
each industry block.
Modified arrangements have been made for certain types of small firms (see DISP
5.6.3 R to DISP
5.6.5 G).
- 01/04/2002
DISP 5.4.4
See Notes
Part 2 of DISP 5 Annex 1R Rsets out the fee tariffs for each industry block.
- 01/04/2002
DISP 5.4.5
See Notes
- 01/04/2002
DISP 5.4.6
See Notes
A firm must
pay to the FSA a general levy towards the costs of operating
the Compulsory Jurisdiction of
the Financial Ombudsman
Service.
- 01/04/2004
DISP 5.4.7
See Notes
Under the standard terms, VJ participants will be required to pay
to FOS Ltd an
amount calculated on a similar basis towards the costs of operating the Voluntary Jurisdiction of
the Financial Ombudsman
Service. FOS
Ltd will be responsible for invoicing and collecting this amount.
- 01/04/2004
DISP 5.4.8
See Notes
A firm's general levy is calculated
as follows:
(1) identify each of the tariff bases set
out in part 2 of DISP 5 Annex 1R R which
apply to the relevant business of
the firm for
the relevant year;
(2) for each of those tariff bases, calculate
the sum payable in relation to the relevant
business of the firm for
that year;
(3) add together the amounts calculated under
(2).
- 01/04/2002
DISP 5.4.9
See Notes
For the purpose of DISP
5.4.6 R and DISP
5.4.8 R,
a member of
the Society of
Lloyd's or a managing agent at
Lloyd's will not in that capacity be treated as a firm but the Society of Lloyd's will pay a general levy in respect
of Lloyd's insurance business conducted
with eligible complainants.
- 01/04/2002
DISP 5.4.10
See Notes
For
the purpose of DISP
5.4,
references to relevant
business for a firm which
falls in industry block 16
or 17 and which so elects under part 2 of DISP 5 Annex 1R R,
are references to the firm's total
amount of annual income reported in accordance with Part 2 of SUP 20 Annex 1.
- 31/10/2004
DISP 5.5
Information requirement
- 01/12/2004
DISP 5.5.1
See Notes
(1) A firm must
provide the FSA by
the end of February each year (or, if the firm has
become subject to the Financial
Ombudsman Service part way through the financial year, by the date requested by
the FSA) with a statement of
the total amount of relevant
business (measured in accordance with the appropriate tariff
base(s)) which it conducted, as at or in the year to 31 December of the previous
year as appropriate, in relation to the tariff base for each of the relevant industry blocks set out
in part 2 of DISP 5 Annex 1R R.
(3) If a firm cannot provide a statement of the total
amount of relevant business as
required by DISP
5.5.1 R,
it must provide the best estimate of the amount of relevant business that it conducted.
(4) For the purpose
of DISP
5.5.1 R, references to relevant business for
a firm which
falls in industry block 16
or 17 and which so elects under part 2 of DISP 5 Annex 1R R,
are references to the firm's total
amount of annual income reported in accordance with Part 2 of SUP 20 Ann 1.
(5) If a firm does
not submit a complete statement by the date on which it is due in accordance
with this rule and
any prescribed submission procedures:
(a) the firm must
pay an administrative fee of £250 (but not if it is already subject
to an administrative fee under SUP 20 Annex 2 Part
1 or COMP 13.6.14 R for the same financial year); and
(b) the general
levy and any supplemental levy will be calculated using (where
relevant) the valuation or valuations of business applicable to the previous
period, multiplied by the factor of 1.10 (or, if a firm has become subject to the Financial Ombudsman Service part
way through the financial
year, on the basis of the information provided to FSA for the purposes of SUP
20.3.2 R) or on any other reasonable basis, making
such adjustments as seem appropriate in subsequent levies once the true figures
are known.
- 01/04/2005
DISP 5.5.1A
See Notes
- 01/04/2005
DISP 5.5.2
See Notes
SUP 16.3 (General
provisions on reporting) contains further rules on the method of submission of reports
under DISP
5.5.1 R.
- 01/04/2002
DISP 5.5.2A
See Notes
A firm should not provide
a statement of relevant
business if it deals only with eligible complainants who are not private
individuals. Relevant business is
defined in the Glossary as
business done with private individuals only. So DISP
5.5.1 R does not apply in relation to business done
with other types of eligible
complainant described in DISP 2.4.3 R (1)(b), (c) and
(d); the funding of FOS
Ltd in relation to that business is by special case fee only
(see DISP
5.6.6 R).
- 01/04/2003
DISP 5.6
Case fees
- 01/12/2004
Standard case fee
DISP 5.6.1
See Notes
A firm must
pay to FOS Ltd the
standard case fee specified in part 3 of DISP 5 Annex 1R R in
respect of each chargeable
case relating to that firm which
is closed by the Financial
Ombudsman Service, unless a special case fee is payable or has
been paid in respect of that case under DISP
5.6.6 R to DISP
5.6.12 R.
- 01/04/2002
DISP 5.6.2
See Notes
The standard case fee, which will be
subject to consultation each year, will be calculated by dividing the annual budget for the Compulsory Jurisdiction,
less the amount to be raised by the general
levy, by the estimated number of chargeable cases which the Financial Ombudsman Service expects to close
in the relevant financial
year.
- 01/04/2002
DISP 5.6.3
See Notes
A credit
union which is subject to the minimum levy in an industry block is not required to pay a standard
case fee in respect of chargeable
cases relating to that industry
block.
- 01/04/2002
DISP 5.6.4
See Notes
Any firm falling
into either industry block 13
or industry block 15
in part 2 of DISP 5 Annex 1R R is
not required to pay the standard case fee in respect of chargeable cases relating to those industry blocks.
- 01/04/2002
DISP 5.6.5
See Notes
The firms in industry blocks 13 and
15 are cash plan health providers and small friendly societies. These arrangements have
been made in respect of these firms to
take account of the fact that the amount at issue is likely to be small relative
to the case fee. Instead, the full unit cost of handling complaints against
these firms will
be recovered through the general
levy in accordance with the relevant tariff-base and no case
fee will be payable. Similar arrangements have been made under DISP
5.6.3 R in respect of small credit unions.
- 01/04/2002
Special case fees: complaints from small businesses
DISP 5.6.6
See Notes
A firm must
pay to FOS Ltd a
special case fee, as specified in part 3 of DISP 5 Annex 1R R in
respect of each chargeable
case relating to that firm closed
by the Financial Ombudsman
Service which was referred to the Financial Ombudsman Service by eligible complainants who
fall within DISP 2.4.3 R(1)(b), (c) or
(d).
- 01/04/2002
Special case fees: firms which cease to be authorised
DISP 5.6.7
See Notes
A firm which
ceases to be authorised must
pay to FOS Ltd a
special case fee, as specified in part 3 of DISP 5 Ann 1R, in respect of each chargeable case relating
to that firm closed
by the Financial Ombudsman
Service which concerned an act or omission occurring when the firm was authorised and where the
complaint was made after its authorisation ceased.
- 01/04/2002
Special case fees: relevant complaints against persons who were subject to a former scheme
DISP 5.6.8
See Notes
An unauthorised
person who is subject to the Compulsory Jurisdiction in relation to a relevant complaint must
pay to FOS Ltd a
special case fee as specified in part 3 of DISP 5 Annex 1R R in
respect of each chargeable
case relating to that unauthorised
person closed by the Financial
Ombudsman Service.
- 01/04/2002
DISP 5.6.9
See Notes
Under the Ombudsman Transitional Order, FOS Ltd can handle complaints
about members of
a former scheme which
that scheme could have handled before commencement,
even if the unauthorised
person concerned does not become authorised by the FSA after that date. Where FOS Ltd handles such complaints, the unauthorised person concerned
will be required to pay a special case fee.
- 01/04/2002
Special case fees for 2001/02
DISP 5.6.10
See Notes
A firm which
was a member of PIA before commencement must pay
to FOS Ltd a
special case fee, as specified in DISP 5 Annex 1R R,
in respect of each chargeable
case relating to that firm received by the Financial Ombudsman Service after commencement and before
31 March 2002.
- 01/04/2002
DISP 5.6.11
See Notes
DISP
5.6.10 R does not apply in relation to a chargeable case which relates to a complaint
which proceeded or would have proceeded under a former scheme other than the PIAOB scheme.
- 01/04/2002
DISP 5.6.12
See Notes
A firm which
was not a member of
a former scheme before
the commencement day must
pay to FOS Ltd a
special case fee, as specified in DISP 5 Annex 1R R,
in respect of each chargeable
case which relates to business conducted by the firm after the commencement day and which
is closed by the Financial
Ombudsman Service before 31 March 2002.
- 01/04/2002
DISP 5.6.13
See Notes
- 01/04/2002
DISP 5.6.14
See Notes
A firm which
was, before commencement,
a member of PIA and a former scheme other than
the PIAOB scheme will not, on account of the exclusion in DISP
5.6.11 R, be required to pay the special case fee specified
by DISP
5.6.10 R in respect of all chargeable cases relating
to it but only those which arise in respect of investment business matters
which would have been eligible under the PIAOB scheme.
- 01/04/2002
Case fee exemption
DISP 5.6.15
See Notes
Notwithstanding the above, a firm will only be liable for, and FOS will only invoice
for, the standard case fee or, as the case may be, the special case fee, in
respect of the third and subsequent chargeable
cases in any financial
year.
- 01/04/2005
DISP 5.7
The supplementary levy
- 01/12/2004
DISP 5.7.1
See Notes
For the purposes of calculating the supplementary levy, the FSA will apportion the establishment costs between
the industry blocks in
the same proportions as the operating costs for the purposes of the general levy. The supplementary levy will
therefore be raised from firms on
the same basis and at the same time as the general levy (see part 2 of DISP 5 Annex 1R R).
- 01/04/2002
DISP 5.7.2
See Notes
The establishment
costs will be recovered via the supplementary levy over the first three
full financial years of
the Financial Ombudsman
Service's operation.
- 01/04/2002
DISP 5.7.3
See Notes
The amount of establishment costs to be raised each year
through the supplementary
levy will be specified in part 2 of DISP 5 Annex 1R R.
- 01/04/2002
DISP 5.7.4
See Notes
The supplementary
levy will be identified separately from the general levy for the purposes of invoicing firms and VJ participants.
- 01/04/2002
DISP 5.7.5
See Notes
A firm must
pay to the FSA a supplementary levy towards the costs of
establishing the Financial
Ombudsman Service.
- 01/04/2002
DISP 5.7.6
See Notes
A firm's supplementary levy is
a sum payable in accordance with the fee tariffs set out in part 2 of DISP 5 Ann 1R and will
be calculated by following the steps set out in DISP 5.4.8R.
- 01/04/2002
DISP 5.7.7
See Notes
Under the standard terms, VJ participants will also be required to
pay an amount calculated on a similar basis towards the costs of establishing
the Voluntary Jurisdiction of
the Financial Ombudsman
Service.
- 01/04/2002
DISP 5.8
Payment
- 01/12/2004
DISP 5.8.1
See Notes
A firm must
pay annually to the FSA the general levy and any supplementary levy to
which it is subject, on or before the later of 1 April and 30 calendar days after the date when
the invoice is issued by the FSA.
- 01/04/2004
DISP 5.8.2
See Notes
A firm must
pay to FOS Ltd any
standard case fee or special case fee which it is liable to pay under DISP
5.6.1 R, DISP
5.6.6 R, DISP
5.6.7 R, DISP
5.6.8 R, DISP
5.6.10 R, or DISP
5.6.12 R, as appropriate, in respect of chargeable cases for which
it is invoiced by FOS Ltd within
30 calendar days of
the date when the invoice is issued by FOS
Ltd.
- 01/04/2002
DISP 5.8.3
See Notes
The Financial
Ombudsman Service will invoice firms for case fees on a monthly basis and firms will be required to pay these fees
within 30 calendar days of
receiving the invoice.
- 01/04/2002
DISP 5.8.4
See Notes
A firm or
an unauthorised person who
is subject to the Compulsory
Jurisdiction in relation to a relevant complaint must pay any standard
case fee or special case fee within 30 calendar days of the date when the invoice is issued
by FOS Ltd.
- 01/04/2002
DISP 5.8.5
See Notes
The FSA will
issue invoices for the general
levy and any supplementary
levy. FOS
Ltd will issue invoices for standard case fees and special case
fees. Each invoice will be payable within 30 calendar days. Invoices will be sent to the firm's Compliance Officer
at the principal place of business in the United Kingdom last notified to the FSA. A firm which is liable to pay under DISP
5.8.1 R may do so by direct debit
agreement.
- 01/04/2002
DISP 5.8.6
See Notes
If a firm or an unauthorised person does not pay a levy
or case fee in full within 30 calendar days of
the date when the invoice is issued, it must, from that date, pay an administrative
fee of £250 plus interest on any unpaid part of the levy or fee at a
rate of 5% over 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.
- 01/04/2005
DISP 5.8.7
See Notes
If a firm (or unauthorised person) subject to the Compulsory Jurisdiction fails
to make payment under this chapter of standard or special case fees, after
expiry of the 30 day period, FOS Ltd may:
(1) Take steps to recover any money owed
(including interest);
- 01/04/2002
DISP 5.8.7A
See Notes
If
a firm (or unauthorised person)
fails to make payment under this chapter of the general levy and any supplementary levy to which it is subject,
after the expiry of the 30 day period,
the FSA may
take whatever action it considers appropriate including steps to recover any
money owed (with interest) and commencing disciplinary proceedings.
- 01/04/2004
DISP 5.8.8
See Notes
- 01/04/2002
DISP 5.8.9
See Notes
- 01/04/2002
DISP 5.9
Joining the Financial Ombudsman Service
- 01/12/2004
DISP 5.9.1
See Notes
A firm which
becomes subject to the Financial
Ombudsman Service part way through a financial year must pay a rateable proportion
of the general levy and
the supplementary levy as
indicated in Table DISP
5.9.2 R.
- 01/04/2002
DISP 5.9.2
See Notes
- 01/04/2002
DISP 5.10
Leaving the Financial Ombudsman Service
- 01/12/2004
DISP 5.10.1
See Notes
Where a firm ceases to be authorised part way through a financial year:
(1) it will remain liable to pay standard
case fees in respect of chargeable
cases against it closed by the Financial Ombudsman Service for the remainder
of that financial year;
and
(2) it must pay the special case fee specified
under DISP
5.6.7 Rin respect of any other chargeable cases against
it closed by the Financial
Ombudsman Service.
- 01/04/2002
DISP 5.10.2
See Notes
Firms which
cease to be authorised and
therefore subject to the Compulsory
Jurisdiction part way through the year will not receive a refund
of their general levy (or supplementary levy) except
in exceptional circumstances. Firms will
continue to be liable for any case fees relating to chargeable cases closed by the Financial Ombudsman Service after
they cease to be authorised. Firms will be charged
the standard case fee where the complaint was closed by the Financial Ombudsman Service before the end
of the year in which their authorisation ceased.
The special case fee will apply to any complaint closed after the end of that
year since the firm will
no longer be contributing to the general
levy.
- 01/04/2002
DISP 5 Annex 1R
DISP 5 Ann 1R: Annual Fees Payable
- 01/04/2005
See Notes
| Introduction: annual budget | |
| 1. | The annual budget for 2004/05 approved by the FSA is £45m. |
| Part 1: General levy and supplementary levy | |
| 2. | The total amount expected to be raised through the general levy in 2004/05will be £12.5m. |
| Part 2: Fee tariffs for general levy and supplementary levy | |
| 3. | No establishment costs will be raised in 2004/05by the supplementary levy. |
| Industry block | Tariff base | General levy payable by firm |
| 1-Deposit acceptors, mortgage lenders and administrators (excluding firms in block 14) | Number of accounts relevant to the activities in DISP 2.6.1 R | £0.0069per relevant account, subject to a minimum levy of £200 |
| 2-Insurers - general (excluding firms in blocks 13 & 15) | Relevant annual gross premium income | £0.081 per £1,000 of relevant annual gross premium income, subject to a minimum levy of £200 |
| 3-The Society (of Lloyd's) | To be allocated by the Society | £47,266 to be allocated by the Society |
| 4-Insurers - life (excluding firms in block 15) | Relevant adjusted annual gross premium income | £0.093 per £1,000 of relevant adjusted annual gross premium income, subject to a minimum levy of £100 |
| 5-Fund managers (including those holding client money/assets and not holding client money/assets) | Relevant funds under management | £0.00255 per £1,000 of relevant funds under management, subject to a minimum levy of £100 |
| 6-Operators, trustees and depositaries of collective investment schemes | Flat fee | Levy of £75 |
| 7-Dealers as principal | Flat fee | Levy of £75 |
| 8-Advisory arrangers, dealers or brokers holding and controlling client money and/or assets | Number of relevant approved persons (controlled functions 21, 22, 24, 25, 26) | £65 per relevant approved person (controlled functions 21, 22, 24, 25, 26), subject to a minimum levy of £75 |
| 9-Advisory arrangers, dealers or brokers not holding and controlling client money and/or assets | Number of relevant approved persons (controlled functions 21, 22, 24, 25, 26) | £30 per relevant approved person (controlled functions 21, 22, 24, 25, 26), subject to a minimum levy of £75 |
| 10-Corporate finance advisers | Flat fee | Levy of £75 |
| 11- | N/A for 2004/05 | |
| 12- | N/A for 2004/05 | |
| 13-Cash plan health providers | Flat fee | Levy of £50 |
| 14-Credit unions | Flat fee | Levy of £50 |
| 15-Friendly societies whose tax-exempt business represents 95% or more of their total relevant business | Flat fee | Levy of £50 |
| 16 - Mortgage lenders, advisers and arrangers (excluding firms in blocks 13, 14 & 15) | Either annual income reported in accordance with Part 2 of SUP 20 Annex 1 R from relevant business or the firm's total annual income reported in accordance with Part 2 of SUP 20 Annex 1 | No levy is payable for 2004/2005 |
| 17 - General insurance mediation (excluding firms in blocks 13, 14 & 15) | Either annual income reported in accordance with Part 2 of SUP 20 Annex 1 from relevant business or the firm's total annual income reported in accordance with Part 2 of SUP 20 Annex 1 | No levy is payable for 2004/2005 |
| 5 | The industry blocks in the table are based on the equivalent activity groups set out in Part 1 of SUP 20 Annex 1 R. |
| 6 | Where the tariff base in the table is defined in similar terms as that for the equivalent activity group in Part 2 of SUP 20 Annex 1 R, it must be calculated in the same way as that tariff base - taking into account only the firm's relevant business. |
| PART 3: Case fees | |
| Governing provisions | Case Fee | Amount |
| DISP 5.6.1 R | Standard case fee | £360 |
| DISP 5.6.6 R | Special case fee: complaints from small businesses | £475 |
| DISP 5.6.7 R | Special case fee: firms which cease to be authorised | £475 |
| DISP 5.6.8 R | Special case fee: relevant complaints against persons who were subject to a former scheme | £475 |
| Part 4: Fee Tariffs and case fees for VJ participants |
| Voluntary jurisdiction industry block | Tariff base | General levy payable by firm | Minimum general levy per firm | Case fee* | |
| 1V | Deposit acceptors, mortgage lenders and administrators | Number of relevant accounts | £0.00383 per relevant account | £100 | £360 |
| 2V | VJ participants undertaking insurance activities subject only to prudential regulation | Relevant annual gross premium income | £0.000044 per £1 of relevant annual gross premium income | £100 | £360 |
| 3V | VJ participants undertaking insurance activities subject to prudential and conduct of business regulation | Relevant adjusted annual gross premium income | £0.000094 per £1 of relevant adjusted annual gross premium income | £100 | £360 |
| 4V | [No longer applicable.] | ||||
| 5V | [No longer applicable.] | ||||
| 6V | Other intermediaries | Not applicable | Not applicable | Not applicable | £360 |
| 7V | VJ participants not falling into any of the above categories | Not applicable | Not applicable | Not applicable | £475 |
| 8V | National Savings and Investments business | Not applicable | Not applicable | £10,000 | £360 |
| 9. | The industry blocks in the table are based on the equivalent activity groups for authorised firms, as set out in part 1 of SUP 20 Ann 1R. |
| 10. | Where the tariff base in the table is defined in similar terms as the tariff base for the equivalent activity group set out in part 2 of SUP 20 Ann 1R, it must be calculated in the same way as that tariff base except that it takes into account only the VJ participant's relevant business. |
| 11. | 'Relevant business' for the purposes of funding the Voluntary Jurisdiction means that part of a VJ participant's business which it conducts with private individuals and which is subject to the Voluntary Jurisdiction of the Financial Ombudsman Service as provided for in DISP 2.6.9 R (The Voluntary Jurisdiction), as measured by the appropriate tariff base for each industry block. |
| 12. | As for the Compulsory Jurisdiction, firms will only be charged for the third and subsequent chargeable case in any financial year. |
- 01/04/2005