Something significant has happened in your firm, and you think the FCA may need to know. Under SUP 15 of the FCA Handbook, you are probably right, and the clock is already running.
We help firms decide quickly whether an event is notifiable, and then prepare a clear, proportionate SUP 15 notification that deals with the issue properly without creating unnecessary alarm.
Contact usThis service is for any FCA-authorised firm that has experienced, or discovered, an event that may require notification: a rule breach, an operational incident, a significant change to the business, or anything else that could affect the firm’s ability to meet regulatory requirements.
SUP 15 requires firms to notify the FCA of significant matters, including serious rule breaches, matters affecting the firm’s ability to comply with its obligations, significant operational or IT failures, fraud and other events the regulator would reasonably expect to know about. This sits alongside Principle 11, which requires firms to deal with the FCA in an open and cooperative way.
The judgement calls are rarely easy. Notify too little and you risk being seen as concealing a problem. Notify badly and a manageable issue can look like a crisis. Our job is to help you get both the decision and the drafting right.
When you contact us, we first assess the event against SUP 15 and Principle 11 to determine whether a notification is required and how urgent it is. We then help you gather the relevant facts, draft the notification with the right level of detail and context, and set out the remedial action your firm is taking. Where the FCA follows up, we support you through that engagement.
We have read these notifications from the regulator’s side of the desk. We know what reassures the FCA and what invites further scrutiny.
Clear, fixed fees, even when the situation is urgent.
We have helped firms handle sensitive notifications in a way that resolved issues rather than escalated them.
It is a notification made to the FCA under chapter 15 of the Supervision manual, covering significant events such as serious rule breaches, operational incidents and other matters the FCA would expect to be told about.
SUP 15 generally requires notification immediately, or as soon as the firm becomes aware, of a notifiable event. If you are unsure whether something is notifiable, seek advice straight away rather than waiting.
Prompt, well-handled notifications generally strengthen your position rather than weaken it. The FCA takes a far dimmer view of firms that fail to notify than of firms that report issues openly and fix them.
FCA regulation and compliance can be complex, but we will help you navigate the process, allowing you to expand your business and create new revenue streams.
Contact us to talk to our friendly team about your requirements.