April 30, 2024

Principle 11 Notifications

Principle 11 requires a firm to deal with its regulators in an open and cooperative way and to disclose to the FCA appropriately anything relating to the firm of which the FCA would reasonably expect notice.

To improve the efficiency of this process, the FCA have created a new webform for notification form submission.  They will be asking for more details of the issue before firms upload their submission to allow them to identify any high-risk concerns which may need prompt escalation.

Firms will be required to provide contact information of the individual submitting the notification alongside the following:

•       Firm name and reference number

•       Details of the approved person or appointed representative (if relevant)

•       Whether the notification is a breach or for information only

•       Category of issue (drop down options will be supplied)

•       Summary of issue

This new webform has now been releasedhttps://www.fca.org.uk/firm-notification-form-sup-15