FCA publishes its expectations on financial resilience for FCA solo-regulated firms

This article was written by Anna Davis. 

The FCA has said that it wants to see firms to continue operating in this challenging period, and where it can it intends to provide flexibility to regulated firms to ensure this. Its expectations of firms are as follows:

• use capital and liquidity buffers if you have them
• plan ahead and ensuring the sound management of your financial resources. If you need to exit the market, consider how this can be done in an orderly way while taking steps to reduce the harm to consuiers and the markets
• make use of government schemes if available
• If you are concerned you not be able to meet your capital requirements, or your debts as they fall due, should contact your FCA supervisor with you plan for the immediate period ahead.