Schedule 8: Cash access services Part 1 – New Part 8B of FSMA 2000 Supervision of designated persons Section 131Z1: Costs of supervision
The FCA is to be able to collect fees in order to cover the costs of supervision, for example costs associated with day to day supervision, or with appointing an investigator. This section restricts the FCA’s ability to collect such fees in relation to functions under this Part to designated relevant current account providers (i.e. designated banks and building societies).