Action required for most firms

Nothing major, but take note.



The FCA has announced that it 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’.

Firms still need to complete the Financial Resilience Survey when requested to do so until the new return comes into force in January 2024

This applies to all FCA regulated firms except:

  • Credit brokers
  • MIFIDPRU investment firms
  • Not-for-profit debt advice bodies
  • PRA-authorised persons
  • Supervised run-off firms
  • Temporary Permission (TP) firms

The changes also apply to:

  • Authorised electronic money institutions
  • Authorised payment institutions
  • Registered account information service providers
  • Small electronic money institutions
  • Small payment institution
  • UK Recognised Investment Exchanges

Firms that will be brought into scope of FIN073 will receive an automated reminder via RegData and need to be prepared to submit the return when it is due, from January 2024.

FCA is also consulting simultaneously on changing the scope of FIN073 to include full permission consumer credit firms. These firms are currently excluded from the rules considering that they are captured under the definition of Credit Brokers.

Following the closure of CP23/9 in June 2023 FCA will publish its final position.

Important Note: ATEB news is intended to provide general information ONLY. The content, including any views expressed or guidance provided, does not replace the need to comply fully with FCA Rules and Guidance. Unless you have discussed news article content with ATEB, and specifically how it relates to your circumstances, then ATEB disclaims all liability and responsibility and actions arising from any reliance placed upon it. For the avoidance of doubt therefore, any reliance you place on such information without our consultation is at your own risk.

ATEB Compliance offers compliance and regulatory advice.

ATEB Suitability provides report writing software for the financial services market.

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Action Required By You

When prompted complete the new return on RegData.
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About the Author

Paul has in-depth experience across a wide spectrum, having headed up compliance, T&C, monitoring, oversight and MLRO functions previously. He was also an IFA for some time so can see things from more than one angle.

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