FCA Supervision Support

FCA supervision can be one of the most challenging aspects of operating a regulated firm in the UK, with the increased scrutiny, complex data requests, and the added pressure on senior management, leaving compliance teams stretched and uncertain about how to respond to FCA requests effectively. 

With the FCA increasing their priorities in building better trust and transparency for consumers amongst regulated firms, firms under supervision from the FCA face reputational damage and operational disruption if weaknesses were to be identified. 

At ALPH Legal & Compliance, our team is experienced in supporting firms to manage every stage of FCA supervision and understand the requirements needed to ensure communications between the FCA are effective and straightforward. 

Contact our team for FCA Supervision Support

What FCA Supervision involves

Whether your firm is currently or about to be taken under FCA supervision, you’ll understand the intense and overwhelming nature of the process. From a large volume of data requests to providing evidence to confirm what systems, controls and governance you have in place, it can be a difficult process to navigate confidently and without error. 

There are typically two forms of the FCA Supervision process, which are: 

• Proactive supervision – This is where the FCA engages with your firm on a regular basis to monitor performance and test governance and compliance with key areas, such as Consumer Duty and fair value. 
• Reactive Supervision – This is where the FCA intervenes in response to a specific concern, such as complaints data or evidence of potential consumer harm. 

With both of these processes, the FCA’s goal is to understand how your firm operates and how risks are identified/minimised and whether your culture supports good consumer outcomes. At ALPH Legal & Compliance, we understand both forms and will support you regardless of whether you’re on reactive or proactive supervision.

Common challenges for firms 

Whilst the FCA wants to ensure that firms are providing a good service to their customers, and have policies in place to mitigate any risks, FCA supervision can place a huge strain on resources for compliance teams already balancing day-to-day responsibilities. 

At ALPH Legal & Compliance, we work alongside your team to manage the pressures that come from FCA supervision. Helping prioritise actions, prepare accurate submissions, and brief senior management effectively, so that your firm meets FCA expectations without the added stress and disruption of doing it alone. 

Below, we’ve outlined some of the common challenges your firm and many like yours may have to face: 

• Unclear expectations: FCA requests can be highly detailed and time-sensitive, making it difficult to interpret exactly what evidence is required.
• Incomplete records: Gaps in your management information or documentation can delay responses and increase scrutiny.
• Consumer Duty pressure: The FCA expects firms to provide clear evidence of fair outcomes and value, which can be difficult to demonstrate retrospectively.
• Senior management accountability: Under SM&CR (Senior Managers and Certification Regime), the FCA may question senior leaders directly.
• Operational disruption: Responding to FCA supervision can divert time and resources from the day-to-day running of the business.

How ALPH Legal & Compliance supports firms under supervision 

At ALPH Legal & Compliance, we work alongside your team to reduce the stress and burden of FCA supervision and help you manage the whole process with confidence. Whether you’re preparing for proactive supervision or responding to a supervisory request, our experienced compliance lawyers will help provide the clarity and structure you need to remain compliant. 

Supervision readiness reviews

Our team will carry out detailed reviews of your firm’s governance, systems, and controls to assess how well they align with FCA expectations. This review helps identify any gaps within your firm early and ensures you are prepared for regulatory supervision before it begins.

Managing FCA supervision

From responding to FCA questions to preparing for meetings, our team supports you at every stage of the supervisory process. We’ll help draft responses, ensuring communications remain aligned with your firm’s regulatory obligations.

Ongoing compliance monitoring

Our ongoing compliance monitoring support helps your business to maintain compliance beyond the immediate supervision period. Our team are experienced in assisting with compliance monitoring plans to make sure your frameworks remain robust and up to date.

Responding to supervisory letters and data requests

FCA supervision often involves extensive documentation and data submissions. This is why our team can help in interpreting what’s required and help compile responses efficiently to ensure all information is presented clearly and consistently, helping to minimise the risk of follow-up queries or enforcement.

If you’re struggling with the complexities of FCA supervision, because it reduces your operations day to day running, speak to our team, who are more than happy to assist