Are You Ready for a Multi-Firm FCA Visit?
- staceywaller
- Jun 10
- 2 min read
Over the past few years, the Financial Conduct Authority (FCA) has taken a more proactive approach to supervising regulated firms, particularly in sectors such as automotive retail, where compliance with Consumer Credit and General Insurance rules is under greater scrutiny.
One of the ways this is being delivered is through Multi-Firm FCA Visits—a focused initiative where the regulator visits a group of firms within the same sector to assess how well key regulatory requirements are being met. These visits are designed not only to identify areas of concern but also to drive consistency and raise standards across the industry.
What Does a Multi-Firm Visit Involve?
Multi-firm visits often focus on a particular theme, such as the fair treatment of vulnerable customers, the quality of sales and advice processes, or the governance and oversight provided by Principal firms to their Appointed Representatives.
During a visit, the FCA may:
Interview senior management and compliance teams
Review customer journey processes and sales records
Examine training and competence frameworks
Assess how well firms are identifying and supporting vulnerable customers
Request evidence of monitoring, auditing, and remedial actions
Why It Matters
If your business is part of a regulated network—or acts as a Principal for other firms—you must be able to demonstrate robust oversight, clear record-keeping, and a culture that puts customer outcomes first. The FCA is placing increasing pressure on Principal firms to ensure they are not just providing documentation and checklists, but delivering real, measurable value and accountability across their networks.
Firms found lacking during these visits could face serious consequences, including remedial orders, reputational damage, or enforcement action.
How ComplianceTrak Can Help
At ComplianceTrak, we provide a best-in-class Appointed Representative network and a purpose-built compliance system that empowers automotive dealer groups to stay ahead of regulatory expectations. From vulnerable customer identification tools to audit-ready record-keeping, we give you the structure, training, and technology to confidently face an FCA visit—multi-firm or otherwise.
If you’re unsure whether your business is ready for an FCA review or if your current provider isn’t giving you the support and transparency you need, we’re here to help.
Get in Touch
If you'd like expert support preparing for a potential FCA multi-firm visit or you simply want a second opinion on your current compliance setup, get in touch with ComplianceTrak today. Let's talk about how we can give you peace of mind and a stronger compliance foundation.
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