• Doing business with the FSA
  • Small Firms
    • Wholesale small firms
      • Supervisory priorities

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.

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