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 2021/22 (October – December 2021)

Sector

Dedicated supervision firms

Portfolio supervision firms

Total

Retail banking

0

0

0

Wholesale banking

0

0

0

Investment management

1

0

1

General insurance and protection

0

0

0

Pensions and retirement income

0

0

0

Retail lending

0

0

0

Retail investments

0

2

2

Total:

1

2

3

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 2021/22 1 2 3
Q2 2021/22  3 9** 12
Q1 2021/22 2 3*  5
Q4 2020/21 1 8 9

Total:

7

22

29

*Q1 2021/22 figures have been reduced by one, due to a Portfolio Supervised Firm attestation being included but not issued until Q2.
**Q2 2021/22 figures have been increased by one, due to a Portfolio Supervised Firm attestation not initially being included. 

Notes to the tables:

  1. The numbers are correct as of 31 December 2021 
  2. The quarters are split according to financial year (i.e. Q1 starts 1 April) 

Download the data as a spreadsheet (XLSX)

Page updates

05/10/2021: Information changed Quarterly information Table 1, Table 2 and notes to tables. Updated data spreadsheet.
05/07/2021: Document update Number of attestations by sector and conduct classification
29/04/2021: Information changed Quarterly information Table 1, Table 2 and notes to tables. Updated data spreadsheet.
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)