GETTING IT RIGHT WITH THE REGULATOR: HOW TO COMMUNICATE CLEARLY, CALMLY AND CREDIBLY

It usually starts with a ping. An unexpected email from the FCA drops into the shared inbox, or a survey invitation lands with a deadline that feels uncomfortably close. Someone mutters something unrepeatable about the regulator, immediately goes into panic mode, or starts drafting a response that could charitably be described as “a bit spicy.” 

Sound familiar? 

It is natural to feel occasional frustration, perhaps with response times, unclear expectations or the sense that supervisory queries arrive at the least convenient moment. At the same time, most firms recognise the important role the regulator plays in maintaining confidence and protecting consumers, even if it doesn’t always get everything right. Those mixed feelings are normal, but they should never influence the way you communicate. Professionalism, respect and clarity remain essential, no matter what’s going on behind the scenes. 

So, whether you are replying to an adhoc email, completing a survey or taking part in an interview,  

You need to be respectful, measured and clear in your dealings with the FCA.  

Two unhelpful extremes

In our experience, most interactions with the FCA run smoothly enough, but when things do go awry, people tend to fall into one of two very recognisable camps. 

At one end, you have open hostility. This is where frustrations come through loud and clear: defensive wording, pointed comments, and a tone that suggests, “We think you are overstepping.” It may feel satisfying in the moment, but it is only ever going to put your firm further under the spotlight. The FCA is unlikely to be charmed by sarcasm or irritation. 

At the other end, you have fear and paralysis. These are the people who are so anxious about saying the wrong thing that they barely say anything at all. They avoid picking up the phone, keep answers painfully brief, and shy away from explaining their position. This risks misunderstanding, missed context, and the impression that the firm is either disorganised or hiding something. 

Neither extreme helps you. The sweet spot is firm, factual, respectful engagement: you know your business, you can explain your reasoning, and you are willing to cooperate without becoming a doormat. 

Practical ways to improve your FCA conversations

We’ve had a fair bit of practice dealing with FCA conversations over the years, so here are some of the approaches that consistently keep things calm, constructive and firmly on track. 

Stay out of the heat of the moment

The quickest way to derail an FCA exchange is to reply while irritated. If a question feels abrupt or your draft answer reads sharper than intended, step away. Make a tea, take a short walk, and return with a clearer head. Where possible, get someone independent, such as a colleague or your B-Compliant consultant, to review and sense-check the tone. They will spot defensiveness long before you do. 

Don’t guess, but don’t look uninformed

Avoid saying “I don’t know” about anything central to your role, but equally avoid guessing. If you don’t have the details to hand, it is perfectly acceptable to say you will check and come back, or that a colleague responsible for the area will provide the specifics. The FCA wants to see that the matter is understood and owned within the business, not memorised by one person. 

Break the email tennis

If an exchange starts looping or misunderstandings creep in, suggest a call or online meeting. A short conversation can reveal what the FCA is actually concerned about, give you space to explain your rationale properly, and prevent days of back-and-forth replies that only muddy things further. Just prepare that well!  

Answer the question, with enough context

One line replies can look evasive, but long narratives that dance around the point and invite unnecessary scrutiny. Be clear, structured and factual. Answer the question, add concise context so nothing is misinterpreted, and point to supporting evidence where relevant. It shows confidence and prevents the FCA straying into areas that were never under review. 

Handle issues with calm honesty

When you’re the one who has to reach out to the FCA, if you’ve identified a breach or a problem that creates client risk, the way you disclose it matters. Strong disclosures set out what happened, why it happened, who may be affected, and any client harm, followed by what has been done immediately and what you are doing to prevent recurrence. When follow-up questions arrive, and they usually do, keep the same tone: consistent, open, factual and free from minimisation. Firms that show they have identified, understood and owned the issue tend to find the FCA responds proportionately. 

Be consistent and reliable

Treat every communication as something that may be revisited later. That does not mean being robotic; it means being accurate, careful and consistent. Keep records of what you’ve said and what you’ve committed to. If you promise something by a date, meet it, or explain early if you can’t. Reliability builds regulatory trust faster than any carefully crafted wording. 

Bringing it all together

Communicating well with the FCA is not about deference or nodding along to everything you are told. It is about behaving like a client focused and well governed firm that takes its obligations seriously, even when the timing is inconvenient, the pressure is rising or you quietly disagree with the regulator’s interpretation. Remember that your tone, clarity and composure speak just as loudly as the data you send back.  

And if you are unsure how to frame a response, prepare for a supervisory interview, handle a tricky survey or notify the FCA about an issue you have identified internally, you do not have to navigate it alone. A quick conversation with B-Compliant can help you sense check your wording, structure the disclosure and approach the regulator with confidence.  

Contact Us

0161 521 8641 | info@b-compliant.co.uk