Themes and firms for inspection are selected based on our market intelligence from a range of sources, including issues noted during on-going supervision, complaints received and referrals from the Financial Services Ombudsman. Following the themed inspection, we issue an information release and a letter to all firms for whom the theme is relevant – regardless of whether they were inspected.
This letter sets out the issues and concerns identified through the inspection and asks firms to consider these findings fully in terms of their own compliance with statutory requirements. Its aim is to raise standards of behaviour by giving feedback to the individual firms and the market as a whole.