Standardised cost estimates of regulatory obligations

The FCA is seeking a supplier to provide an up-to-date study of the costs to business of certain regulatory obligations. The Financial Services Authority (FSA) commissioned two studies of standardised costs in 2006. The first report estimated incremental costs of complying with reporting obligations to the regulator (e.g. record-keeping requirements); the second estimated the cost of complying with rules requiring the disclosure of information to third parties, primarily consumers. The study also included estimates of the cost of labour for different standardised job categories. The reports use data from 2005 and have become too out-of-date for the FCA to use. The aim of the present tender is to commission similar up-to-date analysis, with the additional inclusion of estimation of standardised one-off costs. The supplier should aim to: 1. Produce a reasonable and up-to-date schedule of labour costs for different grades of relevant labour in financial services. 2. Using the labour costs and additional evidence, provide estimates of the cost to business of certain kinds of obligations the FCA repeatedly places on firms, both for one-off and ongoing costs. The results of the study will be used in FCA CBAs and Enterprise Act business impact assessments and, as such, need to be based on a robust and transparent methodology. In particular, the estimates must be sufficiently soundly based to be considered acceptable by the Regulatory Policy Committee.

Additional information: Suppliers Instructions How to Express Interest in this Tender: 1. Register your company on the eSourcing portal (this is only required once) — Browse to the eSourcing Portal: https://fca.bravosolution.co.uk and click the link to register — Accept the terms and conditions and click ‘continue’ — Enter your correct business and user details — Note the username you chose and click ‘Save’ when complete — You will shortly receive an email with your unique password (please keep this secure). 2. Express an Interest in the tender — Login to the portal with the username/password — Click the ‘PQQs / ITTs Open To All Suppliers’ link. (These are Pre-Qualification Questionnaires or Invitations to Tender open to any registered supplier) — Click on the relevant PQQ/ ITT to access the content. — Click the ‘Express Interest’ button at the top of the page. — This will move the PQQ /ITT into your ‘My PQQs/ My ITTs’ page. (This is a secure area reserved for your projects only). – You can now access any attachments by clicking ‘Buyer Attachments’ in the ‘PQQ/ ITT Details’ box. 3. Responding to the tender — Click ‘My Response’ under ‘PQQ/ ITT Details’, you can choose to ‘Create Response’ or to ‘Decline to Respond’ (please give a reason if declining) — You can now use the ‘Messages’ function to communicate with the buyer and seek any clarification — Note the deadline for completion, then follow the onscreen instructions to complete the PQQ/ ITT — There may be a mixture of online and offline actions for you to perform (there is detailed online help available). You must then submit your reply using the ‘Submit Response’ button at the top of the page. If you require any further assistance please consult the online help, or contact the eTendering help desk.