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Firms set to receive further FCA Financial Resilience Survey

In order to understand the affect the current financial climate is having on FCA solo-regulated firms the regulator is planning to send out a further financial resilience survey. The results of this survey will then help determine the regulator's supervisory actions going forwards.

This survey, formerly known as the Covid-19 Impact Survey, will be sent out from the 9th to 20th October 2023 inclusive to all firms in Tranche 1 and 2 unless they satisfy specific exclusion criteria.

Check boxes with ticks

Firms will receive an introductory email at least a week prior to then receiving the survey via an online link. The survey should take no more than an hour to complete, and will consist of 9 questions looking at liquidity / cash availability and needs, the firm's recent financial performance and the scale of business activity.

Completion of the survey is mandatory under section 165 of the Financial Services & Markets Act (FSMA) 2000. Responses must also be submitted within 15 working days of receipt of the survey.

This latest Financial Resilience Survey will then be replaced with a new financial resilience regulatory return from January 2024.

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