FCA reveals 4,000 firms at risk of failure due to Covid-19
Mainly small and medium-sized outfits
Sheldon Mills: "Our role isn’t to prevent firms failing. But where they do, we work to ensure this happens in an orderly way."
Some 4,000 regulated firms are at risk of failure due to the ongoing coronavirus pandemic and a third of those have the potential to cause harm if they go under, according to the financial regulator.
The statistics come from the Financial Conduct Authority's (FCA) coronavirus (Covid-19) financial resilience survey results published today. The surveys were sent to 23,000 solo-regulated firms to inform...
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