FCA to collect economic crime levy from July

FCA is to collect the Treasury’s economic crime levy from the firms for whom it is responsible (that is, relevant regulated firms and those registered with FCA for AML supervision). This year’s levy will apply to firms subject to the MLRs between 6 April 2022 and 5 April 2023. FCA will calculate the amount due by referring to the FIN074 Reg Data report. It reminds firms to submit the firm and that they may need to pay an administrative fee of £250 if they do not submit in time.

Annex 1 financial institutions will receive a letter asking them to report their data.

Emma Radmore