Are You REALLY Ready for a Multi-Firm FCA Visit? A Practical Compliance Guide

Over the last few years the Financial Conduct Authority (FCA) has dramatically increased how often it engages with regulated firms. A key focus for 2025/26 is multi-firm FCA visits — coordinated reviews across several firms in the same sector, especially where Consumer Credit and General Insurance compliance risks are high.

These visits aren’t ad-hoc inspections — they are strategic, themed reviews to ensure firms are protecting customers, managing compliance effectively, and consistently meeting regulatory standards.

In this guide you’ll learn:

• What a multi-firm FCA visit really involves

• Common themes the FCA targets

• How to prepare your firm and leadership team

• Real compliance actions that make a difference

What Is a Multi-Firm FCA Visit?

A multi-firm visit is an FCA supervisory review where the regulator inspects several firms at the same time across a particular industry or distributor network. These visits often target specific risk themes, such as:

• Vulnerable customer treatment

• Sales process compliance

• Governance and oversight effectiveness from Principal firms

• Record-keeping, monitoring, and audit controls

During a visit, the FCA may:

✔ Interview senior management and compliance teams

✔ Review customer journeys and sales files

✔ Examine staff training and competence records

✔ Assess how vulnerable customers are identified and supported

✔ Request evidence of independent monitoring and remedial actions

Why This Matters — And What’s at Stake

The FCA’s goal is clear: regulated firms must not just say they are compliant — they must demonstrate it. If your business is part of a regulated network or acts as a Principal for other firms, you must be able to show:

• Clear governance and oversight

• Consistent, audit-ready evidence

• Robust risk controls

• A genuine focus on customer outcomes

Firms that fall short risk significant consequences including regulatory enforcement, remedial orders, and reputational damage.

Common FCA Focus Areas in Multi-Firm Visits

Consumer Duty & Vulnerable Customers

The FCA continues to push firms to evidence how they monitor and improve outcomes for vulnerable customers. This includes showing how staff are trained, how cases are logged, and how remedial action is tracked.

Governance & Senior Leadership Engagement

Senior managers must be prepared to explain governance frameworks, decision-making processes and oversight mechanisms — especially where there’s delegation to Appointed Representatives.

Risk Control and Management

Firms should demonstrate strong risk registers, escalation processes, and tangible controls aligned with FCA expectations.

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.

Documentation & Audit Trails

Well-organised compliance manuals, training records, and audit reports show inspectors that your firm has embedded a proactive compliance culture.

How to Prepare Your Firm for an FCA Multi-Firm Visit

Here’s an actionable prep checklist:

Understand the FCA’s Priorities

Review FCA thematic reviews and expected outcomes so you can map internal processes against what the regulator will likely examine.

Set Up Clear Governance Frameworks

Senior management should be ready to describe roles, responsibilities, and oversight for compliance functions.

Organise Evidence & Records

Ensure up-to-date, easy-to-access records for:

• Training and competence

• Risk and audit logs

• Complaints handling

• Vulnerable customer cases

• Monitoring and remedial actions

Run Mock FCA Interviews

Practise Q&A sessions with compliance and leadership teams — confidence matters during on-site discussions.

Fix Compliance Gaps Before They’re Identified

Regular internal audits help avoid reactive responses during an FCA visit.

How ComplianceTrak Helps You Stay Inspection Ready

At ComplianceTrak, we provide a fully scalable FCA compliance framework designed for automotive dealer groups and regulated networks.

Our software and support solutions help you:

• Demonstrate consistent oversight across your Principal and Appointed Representative network

• Maintain audit-ready records and evidence trails

• Identify and support vulnerable customers proactively

• Track training, competence, and remedial action logs

If you’re unsure whether your current compliance setup will withstand a multi-firm visit, it’s time for a compliance health check — and we’re here to help.

Get Started Today

Want expert support preparing for an FCA multi-firm visit — or a second opinion on your compliance maturity? Contact ComplianceTrak now to build confidence and resilience into your compliance infrastructure.