FCA – Coronavirus Financial Resilience Survey

The FCA is asking around 13,000 firms to complete a short survey to help obtain a more accurate view of firms’ financial resilience as a result of Coronavirus (Covid-19). They plan to use the data provided, alongside existing data, to support their ongoing work. 

The FCA acknowledges the concerns about phishing emails and scams at this time and has confirmed that the survey will be sent to firms between 4th and 8th June 2020 from FCA@fcanewsletters.org.uk or an fca.org.uk email address.  The FCA urges any firm with any concerns to speak with the Firm’s Contact Centre.

The Survey
The 10-question survey does not ask for the firm name or firm reference number, the link in the email is specific to the firm, enabling the FCA to know who the response is from. 

The FCA has advised that the purpose of the survey is to gauge the immediate impact of Covid-19 on regulated firms. The survey should be completed on a ‘best efforts’ basis; firms are not expected to spend excessive time or resources in obtaining the figures required, it is more important that firms meet the deadline. 

For firms who do not respond by the deadline date provided in the email, they will be reminded immediately after missing the deadline date.  The FCA intends to ensure ALL firms who are provided with the survey respond.

The survey is requesting financial information to assess the impact on firms, some of the information is required as at 20 February 2020 and 31 May 2020 to provide a comparison.

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Technical Manager - Often referred to as the Oracle or the Sage, Alistair has a wealth of financial services experience. He is our go-to Technical Manager and enjoys nothing more than a complicated conundrum. Feel free to test his renowned knowledge by getting in touch.

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