Attestations – FCA use attestations as a supervisory tool.
23/08/2025
An attestation is a firm's formal statement that it will take, or has taken, an action the FCA require.
The FCA use attestations as a supervisory tool to ensure that regulated firms - and senior individuals within them – are clearly accountable for taking the actions the FCA require, often without our ongoing regulatory involvement.
The most usual situations when the FCA ask for attestations include:
- NOTIFICATION – The most appropriate senior individual(s) within a firm “attest” to notify the FCA if an emerging risk changes in its nature or magnitude. They are therefore responsible for ensuring the firm appropriately monitors the risk.
- UNDERTAKING – The most appropriate senior individual(s) within a firm attest to complete actions within a specified timescale; however, they are not required to confirm to the FCA that they have been completed.
- SELF-CERTIFICATION – The most appropriate senior individual(s) within a firm attest to undertake the completion of actions within a specified timescale. They are also required to confirm that they have been completed.
- VERIFICATION – The most appropriate senior individual(s) within a firm attest to undertake the completion of actions within a specified timescale. They are then required to verify that the risks identified have been mitigated and resolved.
Quarterly information - The FCA publish information on how often the FCA requests attestations every quarter. See the latest update:-
SOURCE
https://www.fca.org.uk/about/how- the FCA-regulate/supervision/attestations
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As well as owning and publishing Comsure's copyrighted works, Comsure wishes to use the copyright-protected works of others. To do so, Comsure is applying for exemptions in the UK copyright law. There are certain very specific situations where Comsure is permitted to do so without seeking permission from the owner. These exemptions are in the copyright sections of the Copyright, Designs and Patents Act 1988 (as amended)[www.gov.UK/government/publications/copyright-acts-and-related-laws]. Many situations allow for Comsure to apply for exemptions. These include 1] Non-commercial research and private study, 2] Criticism, review and reporting of current events, 3] the copying of works in any medium as long as the use is to illustrate a point. 4] no posting is for commercial purposes [payment]. (for a full list of exemptions, please read here www.gov.uk/guidance/exceptions-to-copyright]. Concerning the exceptions, Comsure will acknowledge the work of the source author by providing a link to the source material. Comsure claims no ownership of non-Comsure content. The non-Comsure articles posted on the Comsure website are deemed important, relevant, and newsworthy to a Comsure audience (e.g. regulated financial services and professional firms [DNFSBs]). Comsure does not wish to take any credit for the publication, and the publication can be read in full in its original form if you click the articles link that always accompanies the news item. Also, Comsure does not seek any payment for highlighting these important articles. If you want any article removed, Comsure will automatically do so on a reasonable request if you email info@comsuregroup.com.