Attestations

How and why we use attestations as a supervisory tool.

An attestation is a firm's formal statement that it will take, or has taken, an action we require. We use attestations as a supervisory tool to ensure that regulated firms - and senior individuals within them – are clearly accountable for taking the actions we require, often without our ongoing regulatory involvement.

The most usual situations when we ask for attestations include:

  • Notification – The most appropriate senior individual(s) within a firm attest to notify us 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 us 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 provide verification that the risks identified have been mitigated and resolved.

Quarterly information

We publish information on how often we request attestations on a quarterly basis. 

Table 1: Number of attestations by sector and conduct classification for Q3 2020/21 (October-December 2020)

Sector

Dedicated supervision firms

Portfolio supervision firms

Total

Retail banking

0

1

1

Wholesale banking

2

1

3

Investment management

0

0

0

General insurance and protection

0

0

0

Pensions and retirement income

0

0

0

Retail lending

0

0

0

Retail investments

4

2

6

Total:

6

4

10

Table 2: Number of attestations by quarter and conduct classification for the most recent four quarters

Quarter 

Dedicated supervision firms

Portfolio supervision firms

Total:

Q3 2020/21 6 4 10
Q2 2020/21 1 3 4
Q1 2020/21 1 2 3
Q4 2019/20

1

2

3

Total:

9

11

20

Notes to the tables:
1. The numbers are correct as of 31 December 2020
2. The quarters are split according to financial year (i.e. Q1 starts 1 April)

Download the data as a spreadsheet (XLSX)

Page updates

14/01/2021: Information changed Quarterly information Table 1, Table 2 and notes to tables. Updated data spreadsheet.
06/10/2020: Information added Updated for Q2 2020/21 (July – September 2020)
05/10/2020: Information added Updated for Q2 2020/21 (July – September 2020)