The FCA is to hold out an in depth survey of solo-regulated corporations to evaluate how they’re dealing with the price of residing disaster.
The FCA will use the survey to evaluate the ‘monetary resilience’ of corporations.
The regulator stated: “We’re asking quite a lot of corporations to full this survey to assist us perceive how the present monetary local weather is impacting FCA solo-regulated corporations.”
The watchdog needs to evaluate how corporations regulated solely by the FCA are dealing with the financial turmoil the UK is experiencing.
The regulator will ship the survey in two tranches in October. It’s obligatory for corporations which obtain the survey to finish it.
The watchdog additionally surveyed the sector throughout the peak of the pandemic to see how corporations had been coping.
Not all solo corporations will probably be surveyed however the FCA says it’s going to ask “a quantity” to participate. Companies within the Short-term Permissions Regime and Supervisory Run-off Regime also can count on to obtain the survey in October.
The survey will probably be emailed in two tranches between 11 and 21 October.
The most recent survey follows on from the FCA’s Covid-19 Affect Survey, which was first despatched corporations in 2020. The FCA has since repeated the survey 5 instances since and says it expects to repeat the survey once more sooner or later.
The survey is a part of a technique to maintain a more in-depth eye on how regulated corporations are faring throughout instances of economic stress.
In a message to regulated corporations the FCA stated: “We are going to use the info that you just present, alongside current knowledge, to help our ongoing work.”