Firm Reporting of FCA breaches

From June 2022, the FCA will be requiring firms to report any retail investment advisers’ potential breaches of APER (Approved Persons) and COCON (Code of Conduct) to the relevant accredited bodies. This needs to be done as soon as reasonably practical after firms become aware of or have information, which reasonably suggests that a retail investment adviser has failed to comply with the above. Therefore, the CISI expects the notifications to be made within the same timeframe as these are reported to the FCA.

The CISI is required to inform the FCA when it receives a submission of potential breach from a firm, and to keep them updated. Firms are also required to keep the CISI informed of the outcome of any investigations.

Firms are required to complete the below form, to notify the CISI of any potential breaches.

Firm Notification Form

Please complete all sections of this form

Where a firm is required to make a notification to the FCA, it is also required to notify the relevant accredited body within the same
timeframe under regulation TC 2.1.31A.

Please see the CISI Privacy Policy for further information.

Individual’s details

Firm’s details

Person making the notification

Event occurred

Event Reported to Firm

Event reported to FCA

Specific Rule or principle breach

Details of the notification

Steps taken

Please upload any relevant document. (Alternatively, if you are submitting a number of files, we ask that you email these to notifications@cisi.org.)


Upload File


Steps taken

I confirm that the information I have provided within this form is a true and accurate account of the event to the best of my firm's knowledge.


Submit


All forms submitted will be reviewed within 2 working days of submission and further investigated by the Standards Team. Information on the CISI Disciplinary process can be found here.

Please note that all submissions and the outcome are reported to the FCA.

Should you have any queries on the process or would like to submit further information, please email notifications@cisi.org