Small corporate finance firms

FSA Handbook

Tailored Handbook for corporate finance firms

Tailored Handbook

Related information

FSA's statutory objectives

 

Our Wholesale Banks and Investment Firms Department regulates firms in a combination of ways to ensure that we achieve the most effective supervision.

How we regulate

  • We use a risk assessment to categorise firms according to their potential impact on the FSA objectives.
  • The Wholesale Banks and Investment Firms Department currently supervises about 3,000 firms, a number of which are relationship managed due to their size, activities and clients.
  • The firms who are not relationship managed are supervised reactively through case work. We deal with specific issues on a case-by-case basis as they arise. Potential issues are identified from a number of sources (e.g. the Firm Contact Centre, the whistleblowing unit and the Police).
  • A case may be dealt with over the telephone, in writing or by conducting an on-site visit. There may be a number of ways to resolve an issue at any given time. We attempt to co-ordinate with the firm and work effectively to resolve any issues in a timely manner.
  • The Wholesale Banks and Investment Firms Department also proactively regulates the industry through themed project work, looking at common issues between firms or focusing on current directives and publications.
  • The relationship managed firms are supervised on a continuous basis, with the compliance officer as the general point of contact.
  • Any issues identified by the firm or supervisor are dealt with by the supervisor and firms are subject to a periodic risk assessment.

Correspondence with firms

Regarding Retail Mediation Activities Return (RMAR). MiFID, Treating Customers Fairly (TCF) and Wholesale Conference - Small Firms

Letter dated August 2007 [PDF]

Wholesale small firms conference slides

Wholesale conference 2007 [PDF]

Supervision strategy [PDF]

Tackling Market Abuse: a partnership approach [PDF]

Useful links

Reporting Reference Guide

Notifications and Applications

New measures to help Small Firms

Newsletters

UKLA Newsletters

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