United Kingdom-London: Collection agency services
Prior information notice
This notice is for prior information only
Section I: Contracting authority
Main address: www.fca.org.uk
Section II: Object
TEN-17-104 FCA Debt Collection Framework
The FCA Revenue department is responsible for invoicing fee payers, to raise the Annual Funding Requirement for the FCA each year. In addition, we also collect the fees on behalf of other regulators, i.e. Prudential Regulation Authority fees, Financial Services Compensation Scheme levy, the Financial Ombudsman Service general levy, the levy on behalf of the Financial Reporting Council and the funding for the Money Advice Service.
The FCA is seeking to set up a framework agreement for debt collection service providers for a 4 year period. The providers will form part of our debt collection process where we have exhausted all of the options available to us.
These are cases where a firm or individual have been fined for misconduct. Some of these individuals will often leave the UK and we would need to trace them in order to take legal action. We expect in these cases to take action up to bankruptcy if necessary. Debts in these cases range from 25 000 GBP to 1 000 000 GBP plus.
Regulatory fee debtors <£1K & £1-5K
Debts in this range start from 65 GBP for Mutual societies which are typically working men’s clubs, private associations. Also includes small consumer credit organisations which account for the majority of the volume of these debtors. Debts for international fund managers also fall under this category.
Regulatory Fees 5 000 GBP
Debts in excess of 5 000 GBP are primarily FCA authorised firms and International firms who are listed on the London Stock Exchange.
Section IV: Procedure
Section VI: Complementary information