July 26, 2021

FCA COVID Impact Survey

Furtherto the FCA’s Covid-19 impact survey, the FCA are continuing to follow up with all firms, and they are now sending this out for the 5th time.

The FCA’s core responsibilities include protecting consumers and enhancing the integrity of the UK financial markets. They remain concerned that the current financial stresses can put additional pressure on firms and are seeking to understand the effect COVID-19 is having on the finances of firms guide their supervisory actions. The survey will be similar to last time and they are conducting these surveys to help obtain an accurate view of the impact of Covid-19 and support their work to mitigate risks of harm to consumers, the market and competition within it. 

They are sending the survey to the 1st Group of firms on one of the dates below with tight response times:

 Batch 1: to be sent on 2 August 2021 - response due by 23August 2021

Batch 2: to be sent on 3 August 2021 - response due by 24August 2021

Batch 3: to be sent on 4 August 2021 - response due by 25August 2021

Batch 4: to be sent on 6 August 2021 - response due by 27August 2021

If you are not in the first group, it is likely you will be in the 2nd or 3rd later in August, or in early September.

 

The survey will include 12 questions in total, designed to give the FCA information about the following important areas:

  • Liquidity/ cash availability and needs
  • Recent financial performance
  • Scale of business activity
  • Access to government schemes
  • Impact of Brexit

  

Completion of the survey is mandatory under Section 165 of the Financial Services & Markets Act (FSMA) 2000.