Information on FCA average tenure of individuals in designated roles - October 2024

For this part of the request, we have calculated the average tenure of individuals in each of the four requested roles:

The average has been calculated based on the provided start and end dates of the individual’s time in the role, from directory persons data provided by firms. If the individual was still in a role at the date of extract (08/10/24), then the date of extract was used as the end date for the purposes of calculating average tenure. If the start and end date of the involvement were the same day, we counted this as 1 day.

The average tenure in days for each of the roles, using the same methodology as in question 1, has been provided broken down by the primary portfolio of the associated firm. The data can be found in Annex A below.

Caveats and Clarifications:

• It may not be possible to ascertain the actual tenure of individuals in these roles. This is because the start dates reflect when these roles became subject to the certification regime. This started for some firms in 2016 and expanded to all firms in December 2019. It will not reflect tenure in the role before they became in scope of the certification regime. Solo-regulated firms were not required to submit Directory persons data until 31 March 2021.
• If the status end date was a future date, the extract date of 08/10/2024 was used for these entries to calculate tenure up until the date of extraction.
• Directory persons data is provided by firms. The firms are responsible for supplying us with accurate information. We cannot guarantee its accuracy, and it may contain errors or missing information.
• The primary portfolio of a firm reflects the current portfolio that a firm is in (or the most recent portfolio of the firm for firms that are no longer authorised).
• Some firms have no primary portfolio assigned and so are excluded from this breakdown. This would occur, for example, if the firm’s permissions were cancelled before the firm was assigned to a portfolio.
• Some portfolios have a very small number of firms currently assigned to them. This may occur where a portfolio is, for example, no longer used, and the firms are being reassigned to other portfolios. To note, Wholesale (Other) is a portfolio which has largely ceased to operate which contained heterogenous business models and have now been allocated to other existing portfolios.

Annex A

CASS oversight Function

Proprietary trader

Material risk taker

Client dealing