Award

Standardised cost estimates of regulatory obligations

THE FINANCIAL CONDUCT AUTHORITY

This public procurement record has 2 releases in its history.

Award

21 Nov 2016 at 14:56

Award Notice
Tender

18 Nov 2016 at 20:15

Tender Notice
Summary of the contracting process

The Financial Conduct Authority (FCA) is conducting a tender entitled "Standardised cost estimates of regulatory obligations," seeking suppliers to provide an up-to-date study on the costs businesses incur due to certain regulatory requirements. This procurement falls within the research and development services category and is located in London, United Kingdom. The tender process used is an open procedure, with the deadline for submissions having been set for 30th September 2016. The contract period for the successful supplier will commence on 18th October 2016 and conclude on 17th January 2017. The awarded contract has a total value of £60,000.

This tender presents significant opportunities for businesses involved in consultancy, research, and financial services analysis. Companies that specialise in regulatory compliance, cost assessment, or feasibility studies would be particularly well-suited to participate. Notably, small and medium-sized enterprises (SMEs) are encouraged to engage in this process, which can foster growth through collaboration with regulatory bodies and enhance their market presence in the financial sector.

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Notice Information

Notice Title

Standardised cost estimates of regulatory obligations

Notice Description

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 The reports use data from 2005 and have become too out-of-date for the FCA to use.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.

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-b5fd17-27525a3f-adca-11e6-9901-0019b9f3037b
Publication Source
Contracts Finder
Latest Notice
https://www.contractsfinder.service.gov.uk/Notice/58e58881-fa75-473d-b382-acbd834d6e94
Current Stage
Award
All Stages
Tender, Award

Procurement Classification

Notice Type
Award Notice
Procurement Type
Standard
Procurement Category
Services
Procurement Method
Open
Procurement Method Details
Open procedure
Tender Suitability
SME
Awardee Scale
Large

Common Procurement Vocabulary (CPV)

CPV Divisions

71 - Architectural, construction, engineering and inspection services

73 - Research and development services and related consultancy services

79 - Business services: law, marketing, consulting, recruitment, printing and security

CPV Codes

71241000 - Feasibility study, advisory service, analysis

73000000 - Research and development services and related consultancy services

79314000 - Feasibility study

Notice Value(s)

Tender Value
Not specified
Lots Value
Not specified
Awards Value
£60,000 Under £100K
Contracts Value
Not specified

Notice Dates

Publication Date
21 Nov 20169 years ago
Submission Deadline
30 Sep 2016Expired
Future Notice Date
Not specified
Award Date
21 Nov 20169 years ago
Contract Period
11 Nov 2016 - 10 Mar 2017 1-6 months
Recurrence
Not specified

Notice Status

Tender Status
Complete
Lots Status
Not Specified
Awards Status
Active
Contracts Status
Not Specified

Buyer & Supplier

Contracting Authority (Buyer)

Main Buyer
THE FINANCIAL CONDUCT AUTHORITY
Contact Name
Available with D3 Tenders Premium →
Contact Email
Available with D3 Tenders Premium →
Contact Phone
Available with D3 Tenders Premium →

Buyer Location

Locality
LONDON
Postcode
E14 5HS
Post Town
East London
Country
England
Major Region (ITL 1)
TLI London
Basic Region (ITL 2)
TLI4 Inner London - East
Small Region (ITL 3)
TLI42 Tower Hamlets
Delivery Location
TLI London
Local Authority
Tower Hamlets
Electoral Ward
Canary Wharf
Westminster Constituency
Poplar and Limehouse

Supplier Information

Number of Suppliers
1
Supplier Name

REAL ASSURANCE RISK MANAGEMENT

Further Information

Notice Documents

Open Contracting Data Standard (OCDS)

View full OCDS Record for this contracting process

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The Open Contracting Data Standard (OCDS) is a framework designed to increase transparency and access to public procurement data in the public sector. It is widely used by governments and organisations worldwide to report on procurement processes and contracts. 

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