Information on Senior Management Functions - March 2024

We currently have 35 open cases relating to senior managers in respect of COCON breaches.

We currently have 6 open cases relating to certified persons in respect of COCON breaches.

We currently have 1 open case relating to an individual who is not a senior manager or certified person, and which relates to COCON breaches.

We can confirm that we hold information relevant to your request and this can be found in the table below. Please note that most firms have a set reporting window of 1 September to 31 August, but Limited Permission Consumer Credit firms instead have staggered reporting periods. Therefore:

• the data below may contain reported breaches which occurred in 2022; and

• will not contain breaches which have occurred after each firm's reporting end date

[1] As reported by firms in REP008 submissions that are not marked as a nil return.

Please note that the figure provided for question 4d may contain a very small number of updates from firms providing an additional information on a submission made in a previous reporting period (generally this is to update on whether an appeal against a disciplinary decision has been launched or has concluded). As such, the number of individuals reported for a conduct rule breach will be slightly lower.

Additionally, please note that firms are only required to report in their REP008 submissions those individuals whose conduct both constituted a breach of at least one conduct rule and was subject to ‘disciplinary action’. Disciplinary action means a formal written warning, suspension, dismissal, or a reduction or recovery of remuneration. The above data is based on information provided by firms - we have not assessed whether the submissions have been accurately reported (ie. whether there was in fact a conduct rule breach, or whether disciplinary action was taken).

Finally, we would like to highlight that Senior Management Function (SMF) holders’ conduct rule breaches are not reported in REP008 submissions.