The transfer of authority from the FSA to FCA did bring about a much more interventionist regime and although you need not expect an armed group of men and women charging through your door you can and should be prepared for intervention at any time.
Although the regulator is very consumer centric, aggressive and interventionist they are also polite and behave very correctly as is required by a statutory authority. The most likely start will be an email which will inevitably be a surprise and this will set out the issue which has caused the regulator to become excited and they will also make it extremely clear as to what you are required to do, and possible penalties for failure. These emails are pretty harsh and are designed to “focus your mind” and they are inevitably successful in this endeavour.
Our strong recommendation would be for you to contact us as soon as you receive this initial notification; as an experienced consultancy who are objective can take the stress and the strain out of the situation, and once a clear and achievable plan toward resolution has been decided peace of mind will return as will business normality.