Types of membership & associate fees

FDRC’s operational funding primarily derives from its Scheme Members. Our membership structure encompasses three distinct types:

1. Group Service Providers:

If you or your organization operates as part of an umbrella group, such as a franchise or license consortium, you may be eligible for Group Service Provider membership. Opting for Group Service Provider membership allows the overall membership expenses to be distributed among all affiliated members, thereby reducing the per-member cost. In cases where your organization encompasses multiple companies offering financial services, you can choose to join FDRC as a Group Service Provider. This involves completing a single Application Form along with an Organization Schedule.

In situations where any of the companies within your group employ or contract advisers, each such company will need to complete a distinct Application Form and a separate Adviser Schedule. Furthermore, individual advisers within the group must also submit individual Application Forms to be assigned their respective membership numbers.

To ascertain your eligibility or seek clarification on your status, we recommend reaching out to your parent organization or primary provider. Should you have any inquiries, please do not hesitate to contact FDRC at +44 844 774 7710.

2. Organization:

If your entity includes advisers, you must complete an Application Form and an Adviser Schedule. Additionally, each individual adviser is required to submit an Application Form to secure their unique membership number.

Individuals operating as financial service providers or advisers are expected to complete an individual Application Form.

Membership within each of these categories is further delineated into six distinct subcategories:

• Category 1 – Qualifying Financial Services Entities – QFSE
• Category 2 – Financial Intermediaries or Fiancial Broker Business (individual or organisation) – FIFB
• Category 3 – Insurers and Insurance Agency Organization – IIAO
• Category 4 – Lenders, Trust and Non-bank Deposit Takers – LTDT
• Category 5 – Other Financial Service Providers – OFSA/ OFSB
• Category 6 – Crowdfunders an Peer-to-Peer Lenders – CPPL

In the event that your entity falls within two or more membership categories, the applicable fee is determined by the category that contributes the highest percentage of your total revenue.

Membership fees are invoiced in July for the forthcoming 12-month period, with payment due by 20 August. It’s essential to be aware that failure to pay membership and/or complaint fees may result in the termination of FDRC membership. You can access detailed Fee Rules by downloading them here.

For any questions or assistance, please do not hesitate to contact us at +44 844 774 7710.

Membership fees per annum (All fees are exclusive of GST)

Category 1 – Qualifying Financial Services Entities – QFSE

(excluding insurers, deposit takers, lenders and registered banks)

QFSE Fee Structure	Fee
Per adviser employee or nominated representative	GBP 680 (Maximum fees to GBP 960)

Maximum fee: GBP 6,800

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Category 2 – Financial Intermediaries or Financial Broker Business – FIFB

(Individual or Organization – Non-QFSE Membership)

FIFB Fee Structures	Fee
FI Fee per Intermediary	GBP 2,680
FIFB Fee per Organization	GBP 25,000

Annual Fee per Organization: GBP 5,000

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Category 3 – Insurers and Insurance Agency Organization – IIAO

IIAO Fee Structure	Fee
Insurers	GBP 133,500

Annual Fee per IIAO: GBP 5,000

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Category 4 – Lenders, Trust and Non-bank Deposit Takers – LTDT

(Including entities providing credit under a credit contract or acting as a creditor under a credit contract)

Fee Structures (Advance to Retail Clients/Book Value)	Fee
Less than $10 million	GBP 15,500
Greater than $10 million	GBP 23,750
Registered banks	GBP 150,000
Organisation with ≥ 3 intermediaries (Per intermediary)	$2,680

Annual Fee per LTDT: GBP 5,000

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Category 5a – Other Financial Service Providers – FSPA

Other financial service providers with or without advisers.

OFSA Fee Structures	Fee
Organisation	GBP 25,000
Plus per additional entity in group	GBP 620

Annual Fee per FSPA: GBP 5,000

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Category 5b – Other Financial Service Providers – FSPB

Entering into derivative transactions, or trading in, foreign exchange, contract for difference, interest rate and index instruments, transferable securities (including shares), and futures contracts on behalf of another person

OFSB Fee Structures	Fee
Organisation	GBP 35,000
Plus per additional entity in group	GBP 750

Annual Fee per FSPB: GBP 5,000

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Category 6 – Crowdfunders and Peer-to-Peer Lenders – CPPL

CPPL Fee Structures	Fee
Less than $10 million	GBP 8,700
Equal to or greater than $10 million	GBP 9,600

Annual Fee per CPPL: GBP 5,000

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