Industry Funding Levy Information for Intermediaries and Debt Management Firms

Funding Category C – Intermediaries and Debt Management Companies

The levy payable by retail intermediaries and debt management companies will be based on a minimum flat rate levy and a variable levy based on the portion of income from fees and income from commissions that exceed a specified threshold. 

Levy Calculation

The levy for retail intermediaries and debt management companies will be calculated according to the following formula:

Minimum Levy: €1,025 plus
Variable Levy calculated as follows:

(A-B) x C

Where:

A = total of firm's 'Income from Fees' and 'Income from Commissions' as reported in the firm's most recent On-Line Regulatory Return to the Central Bank for year ended 31 December 2018 which was due for submission to the Central Bank at end-June 2019;
B = threshold level of total 'Income from Fees' and 'Income from Commissions' of €200,000;
C = variable levy rate of 0.33%.

Income from Fees and Commissions

Income from Fees and Income from Commissions should, for levy calculation purposes, be shown before deduction of any commission payable to a third party.

Intermediaries that fail to submit their Online Regulatory Return in accordance with regulatory requirements shall be liable to a default levy amounting to €3,600.  This default levy will be cancelled, however, and replaced with a levy calculated in accordance with the entity's income following submission of its Online Regulatory Return.

You can check these details by logging on Online Reporting System and viewing the details of your latest return.

Click here to read more on the annual levying process.