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.
Double bubble equals trouble
Paul Jay Compliance EBI, FCA, PI, platform
A lot of our recent articles have provided our views on what we see as a significant shift in the FCA’s stance and the tone of their language. Not because we do so for the fun of it, but because there has been a tangible shift. As yet, the anticipated findings from the thematic review […]