Completing your Principal Self-Assessment annually is one of the most effective ways to demonstrate that your firm maintains robust oversight of its ARs and IARs. This assessment is not just a regulatory box-ticking exercise; it is a structured review of your firm’s governance, controls and risk management ensuring that your AR’s operates safely and in line with the Consumer Duty.
Completing the assessment helps identify any potential gaps or weaknesses in your systems, controls, or resource allocation, and allows you to document the actions taken to address them. By recording these steps, you can provide clear evidence to the FCA that your oversight remains effective and proportionate to the risks associated with your ARs.
Our Principal Self-Assessment template, available to download from our website, is designed to make this process straightforward. It guides you through each key area of oversight, helping you to focus on the aspects that matter most for governance and consumer outcomes.
Regular completion of the Self-Assessment ensures your senior management team can review the effectiveness of AR oversight, take timely corrective action where needed, and maintain confidence that the firm continues to meet both the AR Regime and Consumer Duty expectations.
