What action must a firm take to align with the Financial Conduct Authority's supervision approach?

To align with the Financial Conduct Authority's (FCA) supervision approach, it is essential for a firm to adhere to its Principles for Businesses (PRIN). These principles serve as a foundational framework that outlines the ethical conduct and standards expected from firms in the financial services sector.

PRIN is designed to ensure that firms act with integrity, treat customers fairly, and maintain clear standards of conduct. By adhering to these principles, a firm demonstrates its commitment to regulatory expectations and consumer protection, thereby fostering trust and accountability in the financial market.

The other options, while they may be relevant to operational practice or specific compliance activities, do not represent the overarching framework for regulatory alignment that PRIN provides. For instance, creating a monthly report on complaints or holding a weekly call with a regulatory supervisor are specific tasks that may support compliance but do not encompass the comprehensive conduct expectations set by the FCA. Similarly, adhering to a risk report on market changes is focused on specific market analysis rather than the ethical and conduct principles that govern broader business practices.