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6 January 2022

The FCA will be repeating their Covid-19 Impact Survey for the sixth time throughout January and February. The first of the Covid-19 Impact Survey was sent in June 2020, covering around 13,000 firms across 15 Supervision portfolios (Tranche 1).  This was rolled out to a further 9,500 firms in 21 portfolios (Tranche 2) at the beginning of August 2020. Since then the FCA have repeated this survey for both Tranches four more times to understand the change in firms’ financial positions with time. The survey aims to assist the FCA to obtain an accurate view of the impact of Covid-19 and supported our work to mitigate risks of harm to consumers, the market and competition within it.

The latest survey will be sent to the relevant firms in Tranche 1 across the following dates:

Batch 1: to be sent on 18th January 2022 – response due by 15th February 2022
Batch 2: to be sent on 19th January 2022 – response due by 16th February 2022
Batch 3: to be sent on 20th January 2022 – response due by 17th February 2022
Batch 4: to be sent on 24th January 2022 – response due by 21st February 2022

This survey will include nine 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 support

The survey will be sent to all firms in the following Tranche 1 portfolios unless they satisfy specific exclusion criteria:

• E-Money Issuer
• High Cost Lenders
• Payment Services Firm
• Peer-to-Peer lending platforms
• SIPP Operators
• Advisers and intermediaries
• Contracts for Differences (CFD) Providers
• Credit reference agencies and providers of credit information services
• Crowdfunders
• Custody Services
• Debt purchasers, debt collectors and debt administrators
• Mainstream Consumer Credit Lenders
• Personal and Commercial Lines Insurance Intermediaries
• Platforms
• Wealth Management

Firms will be emailed a link to complete the survey online (not through RegData).

By Ian Beardmore

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