Regulatory Alerts2022-09-30
Added · Updated
PS23/3 – Creation of a baseline financial resilience regulatory return: Feedback to CP22/19 and final rules
The FCA introduces FIN073, the Baseline Financial Resilience Report, replacing the Financial Resilience Survey for approximately 23,000 solo-regulated firms, authorized electronic money institutions, authorized payment institutions, registered account information service providers, small electronic money institutions, small payment institutions, and UK Recognised Investment Exchanges. Firms must submit the return quarterly, within 20 business days after their accounting reference date plus 0, 3, 6, or 9 months, providing data on liquid assets, average monthly cash needs, net profit or loss, revenue, and net asset or liability position. The instrument comes into force on 1 January 2024, requiring firms to prepare for submission from that date.
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