We combine technical regulatory expertise with practical insight into how the FCA supervises firms and escalates concerns. We help clients identify the likely regulatory issue, assess the legal and commercial risks, and develop a clear strategy for engaging with the FCA.
Systemic Liability, Proactive Redress and Remediation
Where firms identify issues before the FCA intervenes, we help them assess the regulatory position, determine whether notification, remediation or redress is required, and design a proportionate response. Our advice balances regulatory expectations with legal, operational, commercial and liability risk, helping firms take control of the issue and reduce the likelihood of more intrusive supervisory or enforcement action.
BAU Supervision / Early FCA Engagement
We help firms respond to BAU supervisory engagement in a way that is accurate, consistent and strategically positioned. This includes advising on market surveys, thematic reviews, information requests and FCA visits; benchmarking likely FCA concerns; preparing senior managers for meetings and interviews; and helping firms explain their business model, controls and customer outcomes clearly.
Contentious supervision, VREQs and OIREQs
Where FCA engagement becomes more contentious, we advise on the legal, regulatory and commercial implications of the options available. We help firms assess the basis for the FCA's concerns, respond to proposed VREQs or OIREQs, narrow or challenge requirements where appropriate, and maintain a constructive supervisory dialogue while preserving the firm's position. We will take good points robustly, but we will not posture or ‘litigate’ for the sake of it.
Contested FCA applications
We also advise firms and senior managers where FCA concerns arise in the context of contested applications, including applications for authorisation, variation of permission, change in control, senior manager approval or the removal of regulatory restrictions. These matters often require a careful strategy for addressing the FCA's concerns, evidencing remediation or fitness and propriety, preparing representations and deciding whether to withdraw the application or continue to a final determination.
Skilled Person reviews
We advise on draft requirement notices, the scope of Skilled Person reviews and the appointment process. We support firms through document requests, interviews, draft findings and remediation, helping them contextualise or challenge findings where appropriate and build a credible route back to BAU supervision.
Our experience and ability to help in these scenarios is enhanced by our appointment to the Skilled Persons panel and our experience of conducting Skilled Person reviews.
