Context
The FCA has updated its Attestations web page to include the data for Q2 2023/24 (so July to September 2023). An attestation is a firm’s formal statement that it will take, or has taken, an action the FCA requires. The FCA uses attestations as a supervisory tool to ensure that regulated firms – and senior individuals within them – are clearly accountable for taking the actions the FCA requires, often without our ongoing regulatory involvement.
Key points to note and next actions
- The most usual situations when the FCA asks for attestations include Notifications, Undertakings, Self-certification and Verification (see the web page for explanations).
- For the first half of the 2023/24 financial year, the General Insurance and Protection sector attestations are already higher than the whole of the previous financial year, and equal to the whole of the 2021/22 financial year (5, 4 and 5 respectively). This could represent a doubling of numbers this year if that trend remains.