Strong compliance functions support trusted corporate finance markets

While most firms perform key compliance activities, the regulator signals that more must be done. The core message is that compliance is not merely a checklist; it is a culture that senior managers must own. For compliance teams, this reinforces the need to demonstrate independence, adequate resources, and effective challenge to front-office decisions.

Firms should review whether their compliance function has sufficient authority and senior management backing, particularly around conflict of interest management and integrity in capital raising and strategic transactions. Although no new rules or deadlines are announced, this forms part of the FCA's ongoing supervisory priorities. Corporate finance firms should expect continued scrutiny.

Actionable steps include self-assessing against the FCA's findings, strengthening governance frameworks, and ensuring compliance culture is embedded from the top. Firms that act now can protect their reputation, maintain market trust, and turn strong compliance into a competitive advantage when advising clients. Those that treat compliance as a back-office task risk regulatory intervention and lost credibility.