There are a number of reasons why the FCA will visit your firm, and when they do it can be a very intrusive and not always pleasant experience. There are also times when the FCA may show an interest in your firm and then decide a visit is not needed, which may come as a relief but can leave you out of pocket if you take the wrong advice only to find it’s not required.
RWA can help any broker prepare for an FCA visit whether they are an existing client or not. If there is a short time frame to work in then we will never promise to ensure you will get an easy ride or to help you hide things from the FCA. There are many compliance firms out there who may promise to tell you the questions the FCA will ask, and charge you for the privilege, but how can you be sure the questions haven’t changed?
Preparing for an FCA visit is about understanding how to articulate the way you carry out your business and if you can demonstrate to the FCA that you are not dishonest and are putting in place systems and controls to ensure you remain compliant then it won’t be so painful. We will help you identify before the visit those areas where you are likely to get picked up on, giving you time to prepare and correct if possible.
This short video from our Compliance Director, Terence Clark, helps answer some of the key questions that you may have:
Already had your visit?
If you have already had your visit and want help with corrective action before the return visit then we are very happy to come in (often at short notice) and help you start putting it right.
If you would like more information then please contact us for a confidential chat with one of our Directors.