Find out how we communicate with the firms we supervise.
Why we communicate with firms we supervise
We regularly communicate with the firms we supervise to set out our view of how firms and markets are performing. Our communications set out our approach and priorities and make clear our expectations of firms.
How we communicate
We use a range of different channels to communicate with firms. These include:
- sending letters to senior individuals in firms
- using social media platforms such as Twitter and LinkedIn
- publishing our monthly 'Regulation Round-up' email or 'Market Watch' newsletter
- proactively calling from our Contact Centre and supervisory teams
- hosting industry roundtable events
- senior FCA staff making speeches and
- engaging with firms at public events such as our 'Live and Local' programme
Portfolio letters
We supervise all firms as members of a portfolio of firms that share a common business model. For portfolio communications, we will set out our view of the main risks of harm in a portfolio, the action we expect firms to take, and what we will be doing to reduce the level of harm in that sector.
Where firms’ activities span multiple regulated sectors, they will receive a letter for the main portfolio they operate in. But firms should also review letters for other portfolios that may be relevant to their business and act on the expectations we set out.
To help them do this, here are the letters we have published so far by sector. We have not yet written to all portfolios.
We regularly review our portfolios and will make changes to our approach where appropriate.
Portfolio letters published by sector
| Sector | Portfolio | Portfolio letter |
|---|---|---|
|
Wholesale financial markets |
Wholesale brokers Exchanges Multilateral Trading Facilities and Organised Trading Facilities Principal Trading Firms Wholesale banks |
Wholesale brokers |
|
Retail lending |
Credit brokers Motor finance providers Retail finance providers Peer-to-peer lending platforms Building societies Credit unions Retail mortgage lenders Mortgage third party administrators Mortgage intermediaries Lifetime mortgage providers Credit reference agencies, and providers of credit information services Debt purchasers, debt collectors, and debt administrators Debt advice firms Mainstream consumer credit lenders Claims Management Companies Non-bank lenders |
Peer-to-Peer Lending Platforms Mortgage Third Party Administrators Outsourcing to Third Party Mortgage Administrators Credit Reference Agencies (CRAs) and Credit Information Service Providers (CISPs) Claims Management Companies (CMCs) Mainstream Consumer Credit Lenders |
|
Investment Management |
Asset management Benchmarks Alternatives Credit Rating Agencies Custody and fund services |
|
|
General insurance and protection |
Personal and commercial lines insurers (incl. EEA insurers) Lloyd’s managing agents & London market (re)insurers (incl. P&I Clubs) Personal and commercial lines insurance intermediaries Lloyd’s & London market intermediaries (including managing general Price comparison websites Life insurance |
Personal and commercial lines insurers (incl. EEA insurers) - 2020 Personal and commercial lines insurers (incl. EEA insurers) - 2021 Personal and commercial lines insurance intermediaries Lloyd’s & London market intermediaries (including managing general agents) Price Comparison Websites (PCWs) Lloyd’s & London market insurers and others - 2020 |
| Pensions & retail investments |
Advisers and intermediaries Platforms Wealth management Crowdfunders (investment) |
|
|
Retail banking and payments |
Retail banks E-Money issuers Payment services firms |
Other correspondence
We also write to the chief executives of firms when we need to address senior people in regulated firms about very significant issues that require quick action from the firms. These are Dear CEO letters.