23rd September 2022

The Financial Conduct Authority (FCA) is set to embark on its next round of financial resilience surveys (formerly known as Covid-19 impact surveys). The regulators says it is seeking to understand the effect the current financial climate is having on the finances of the firms it regulates and to better guide their supervisory actions.

This round will be sent to firms in ‘Tranche 1’ which includes firms in the ‘Personal and Commercial Lines Insurance Intermediaries’ portfolio. Firms in the Temporary Permissions Regime and Supervisory Run-off Regime will also receive this same survey and operate to the same timeline.

Dates provided for this next round are:

Batch 1: to be sent on 11 October 2022 – response due by 1 November 2022

Batch 2: to be sent on 12 October 2022 – response due by 2 November 2022

Batch 3: to be sent on 13 October 2022 – response due by 3 November 2022

Batch 4: to be sent on 14 October 2022 – response due by 4 November 2022

As usual, firms will receive a warm-up/introductory e-mail at least one week prior to receiving the survey.

Firms will be emailed a link to complete the survey online (not through RegData) and it is expected that most firms will not need more than an hour to complete it.

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

The FCA is cognisant of firms’ concerns around phishing emails and scams and reminds firms that when receiving the survey, toe check it is from either [email protected] or an @fca.org.uk email address.

BIBA members’ compliance and regulation queries should be directed to: [email protected] quoting their membership number.


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