The Financial Conduct Authority (FCA) has today published the results of its coronavirus (Covid-19) financial resilience surveys. The surveys were sent to solo-regulated firms to inform the FCA of the impact of coronavirus on firms' financial resilience. (Photo: IR Stone/Shutterstock) The U.K.'s Financial Conduct Authority released the findings of its coronavirus financial resilience surveys. (Photo: IR Stone/Shutterstock)

Thousands of small financial services firms in the U.K. are facing failure as a result of the global COVID-19 pandemic, according to a new study from the Financial Conduct Authority (FCA). The British regulator surveyed 23,000 small-to-midsize solo-regulated firms to understand the real-time effects the pandemic is having on the businesses' finances.

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