The FCA issued the first phase of the Covid-19 Impact Survey in June, covering around 13,000 firms across 15 Supervision portfolios (Tranche 1), and then rolled this out to a further 9,500 firms in 21 portfolios (Tranche 2) at the beginning of August. The survey was then repeated for both Tranches 1 and 2 to understand the change in firms’ financial positions with time. The survey has helped the FCA obtain an accurate view of the impact of Covid-19 and supported their work to mitigate risks of harm to consumers, the market and competition within it.