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FCA PS23/3 – Creation of a baseline financial resilience regulatory return: Feedback to CP22/19 and final rules


Published: 02 / 05 / 2023


The FCA has announced they are replacing the FCA Financial Resilience Survey with a new financial resilience regulatory return. This will be referred to as ‘FIN073 – Baseline Financial Resilience Report’.


The FCA still requires firms to complete the Financial Resilience Survey when requested to do so, until the new return comes into force in January 2024


This Policy Statement applies to all FCA-regulated firms except:

  • a credit broker
  • a MIFIDPRU investment firm
  • a not-for-profit debt advice body
  • a PRA-authorised person
  • a supervised run-off firm
  • a TP firm


The changes also apply to:

  • an authorised electronic money institution
  • an authorised payment institution
  • a registered account information service provider
  • a small electronic money institution
  • a small payment institution
  • a UK RIE


Firms that will be brought into the scope of FIN073 will need to be prepared to submit the return when it is due, from January 2024. Firms will receive an automated reminder via RegData when the return is available for submission.


The FCA is also consulting simultaneously on changing the scope of FIN073 to include full permission consumer-credit firms. These firms are currently excluded from the rules considering that they are captured under the definition of Credit Brokers.


The FCA announced it will publish its final position in relation to the scope in Summer 2023, following the closure of CP23/9 in June 2023.


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