Transcript
The FCA has contacted your firm. What happens next? Practical preparation
Start with the actual request The FCA has contacted your firm. Start with the actual letter or email. Read it in full, confirm the sender through a trusted channel, and identify the reference, deadline and requested delivery method.
Give the response an owner Appoint one coordinator and an accountable executive. Give each question an owner. Decide who will check accuracy and who is authorised to release the response.
Map questions to evidence Use a response matrix. Keep the question intact, explain the firm position, and link it to retained evidence. Record versions, dates and any gaps. A revised policy does not prove that the process worked.
Read the evidence itself Open the archives, attachments and embedded screenshots. Check that records belong to the correct case. Preserve original dates and time zones. Explain what each item proves, and what it does not.
Be clear about limitations If records are unavailable, say so. Explain the searches made, alternative evidence and next steps. Do not describe an incomplete answer as complete.
Clarify before the deadline Seek clarification promptly if a request is unclear. If more time is needed, propose a reasoned timetable. An extension is not agreed simply because the firm has requested one.
Review and release securely Challenge the response against the evidence. Resolve contradictions, record approval and use the agreed secure channel. Keep a controlled copy of exactly what was sent.
Make the next step practical Track the commitments that follow. MEMA can support preparation, evidence review and remediation. Only the FCA can decide its supervisory response. Use the free guides and templates to prepare your next step.