We wrote recently about the latest FCA survey. This is mandatory and some firms have been querying how to answer one of the questions.
The question asks –
- What are your estimated cash needs (fixed costs, known variable costs) and expected cash inflows between 1 March and 31 May 2022? (GBP)
Please report the actual number and not in thousands of millions. The value should be in GBP as per the exchange rate on 31 May 2022.
The FCA have confirmed the correct dates for this question should be 1 June to 31 August 2022.
Firms receiving their survey after Monday (20 June) will see the correct reporting period.
For the avoidance of doubt, firms who have already submitted their survey response do not need to resubmit.
Thematic review of retirement income advice
Shirley McKenzie Compliance 2015, 2022, FCA, Lifetime Mortgage, Mortgage, Pension, PI, Suitability Review
The FCA has announced that it will shortly be undertaking a thematic review to assess the advice consumers are receiving on meeting their income needs in retirement. Why? Previously planned work on this topic (known as ‘Assessing Suitability Review 2’) was paused as a reaction to Covid but the Regulator believes that it is […]