The Financial Conduct Authority (FCA) is asking a number of firms to complete a Financial Resilience Survey (formerly the Covid-19 Impact Survey) to help it understand how the current financial climate is impacting FCA solo-regulated firms.
The FCA will be sending the survey to the relevant firms, including some BVRLA members, from 9 October 2023 onwards.
The authority will be replacing the Financial Resilience Survey with a new financial resilience regulatory return. This will be referred to as ‘FIN073 – Baseline Financial Resilience Report’. View the Policy Statement, including feedback to CP22/19 and final rules. Firms that will be brought into scope of FIN073 will need to be prepared to submit the return when it is due, from January 2024.
The FCA will still require firms to complete the Financial Resilience Survey when requested to do so, until the new return comes into force.
