FCA Survey – problem question

15 June 2022 Michael SeniorCompliance

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.

Don’t forget to check Our View about this article and the Actions Required By You

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.

Our View

For information.

Action Required By You

For information.

SUIT - Beautiful Reports

CREATE BEAUTIFUL
SUITABILITY
REPORTS

TRY IT FOR FREE

SUIT - Complete Control

TAKE BACK
CONTROL OF YOUR
SUITABILITY REPORT
PRODUCTION

TRY IT FOR FREE

SUIT - Comp confidence

SUITABILITY
REPORTS
WITH FULL
COMPLIANCE
CONFIDENCE

TRY IT FOR FREE

About the Author

Contact Us

Brought to you by

Explore more articles in this category

SM&CR training

Alistair MacDougall Compliance FCA, SM&CR

During a recent workshop, the FCA commented on SM&CR training. They do not believe that some e-learning or short generic training meets their requirements. We believe that this is primarily a reference to the need for all staff to understand the intention of the SM&CR to move firms to a culture of accountability at all […]

28 April 2020

FOS limit changes

Alistair MacDougall Compliance 2019, 2020, complaints, FCA, FOS, PI

On 1 April 2019, the FCA increased the Financial Ombudsman Service’s award limit from £150,000 to £350,000. This applies to complaints referred to the Ombudsman service on or after 1 April 2019 about firms’ acts or omission on or after that date. The limit for complaints referred to the service on or after 1 April […]

white-red-and-blue-flower-petals-3993212

28 April 2020

COVID-19 and vulnerable customers

Alistair MacDougall Compliance 2019, 2020, COVID-19, FCA, PI

Some readers might remember that the FCA issued a guidance consultation paper in July 2019, GC19/3 – Guidance for firms on the fair treatment of vulnerable customers. The consultation closed in October and final guidance was expected to be published early 2020. That has now been deferred, with no timescale indicated for its publication. Another casualty […]