Each firm needs to independently assess whether its controls actually match its own specific risks, its own governance structure, its own day-to-day operations. Advertisement900 Firms Now Under the MicroscopeThe FCA has sent an information request to roughly 900 Annex 1 firms. What Regulated Firms Need to Do NowThe FCA isn’t only talking to Annex 1 firms directly. Frequently Asked Questions What types of firms are classified as Annex 1 firms by the FCA? The FCA sent information requests to approximately 900 Annex 1 firms, building on earlier engagement with around 300 firms in late 2025.