Purpose of the Template
You need a structured way to collect fitness and propriety disclosures from senior managers that actually surfaces integrity issues before the regulator does. This template provides a comprehensive attestation form that goes beyond the standard "Have you been convicted of a crime?" checkbox.
The FCA's recent enforcement actions highlight the importance of integrity. Howard Roland Duckett was banned from financial services for failing to disclose a director Recusal. Paul Taylor and Esmeralda Toni were fined £489,000 and £121,200 respectively, then banned for falsifying documents related to acquisitions. The common issue wasn't technical incompetence but character, specifically what Duckett chose not to disclose to the regulator.
Your attestation process is your first line of defense. If a senior manager faces an adverse court finding, a director Recusal, or an employment dispute involving dishonesty allegations, you need to know about it before the regulator asks why you didn't.
Prerequisites
Before using this template, ensure you have:
Clear escalation protocols. Designate someone to receive completed attestations and assess whether disclosed information requires regulatory notification or further investigation. This can't sit in HR's inbox unreviewed.
Senior leadership buy-in. Your CEO and board need to understand that this isn't just administrative. Attestations that reveal real issues will require difficult conversations and potentially career-ending decisions.
Legal review capacity. When someone discloses a director Recusal or ongoing investigation, you'll need employment and regulatory counsel to determine next steps quickly.
A non-retaliatory culture. If your organization punishes people for honest disclosure, you'll get attestations that are technically complete but practically worthless.
The Template
SENIOR MANAGER FITNESS AND PROPRIETY ATTESTATION
Reporting Period: [Date range]
Completed by: [Name, Title]
Submission Date: [Date]
Instructions: This attestation covers your conduct both within and outside your current regulated role. Answer each question completely. If you answer "yes" to any question, provide a detailed written explanation in the space provided or in an attached document. Incomplete or misleading responses may themselves constitute an integrity issue.
SECTION 1: REGULATORY AND LEGAL PROCEEDINGS
Have you been subject to any regulatory investigation, enforcement action, or adverse finding by any financial services regulator in any jurisdiction? ☐ Yes ☐ No
Are you currently under investigation by any regulatory body, or have you been notified that such an investigation may commence? ☐ Yes ☐ No
Have you been disqualified from acting as a company director, or are you subject to any similar restriction on holding corporate office? ☐ Yes ☐ No
Have you been party to any civil litigation where a court made adverse findings regarding your honesty, integrity, or business conduct? ☐ Yes ☐ No
Have you been subject to any professional disciplinary proceedings by any professional body (legal, accounting, actuarial, or other)? ☐ Yes ☐ No
SECTION 2: EMPLOYMENT AND BUSINESS CONDUCT
Have you been dismissed, asked to resign, or had your employment terminated for cause at any employer? ☐ Yes ☐ No
Have you been subject to any internal investigation at any employer that resulted in findings of misconduct, policy violations, or disciplinary action? ☐ Yes ☐ No
Have you been involved in any employment dispute where allegations of dishonesty, fraud, or breach of fiduciary duty were raised against you? ☐ Yes ☐ No
Are you involved in any outside business activities that have resulted in adverse legal or regulatory findings? ☐ Yes ☐ No
SECTION 3: DOCUMENT INTEGRITY AND DISCLOSURE
Have you ever falsified, altered, or caused to be falsified any business record, regulatory submission, or other document relied upon by a regulator, auditor, or counterparty? ☐ Yes ☐ No
Have you ever provided misleading information to a regulator, auditor, or internal investigator, or omitted material information when disclosure was required? ☐ Yes ☐ No
Have you ever been found to have destroyed, concealed, or failed to preserve documents subject to a Document Preservation or regulatory requirement? ☐ Yes ☐ No
SECTION 4: CRIMINAL MATTERS
Have you been convicted of any criminal offense in any jurisdiction (excluding minor traffic violations)? ☐ Yes ☐ No
Are you currently subject to any criminal investigation or proceeding? ☐ Yes ☐ No
SECTION 5: FINANCIAL MATTERS
Have you been declared bankrupt, entered into an individual voluntary arrangement, or been subject to any insolvency proceedings? ☐ Yes ☐ No
Have you been subject to any judgment or court order for non-payment of debt that remains unsatisfied? ☐ Yes ☐ No
SECTION 6: GENERAL DISCLOSURE
- Is there any other matter, whether or not covered by the questions above, that could reasonably call into question your fitness and propriety to perform your regulated role? ☐ Yes ☐ No
CERTIFICATION
I certify that the information provided in this attestation is true, complete, and accurate to the best of my knowledge. I understand that:
- Failure to disclose material information may itself constitute an integrity breach.
- This attestation may be shared with regulators as part of fitness and propriety assessments.
- False or misleading statements may result in disciplinary action up to and including termination and regulatory prohibition.
Signature: ____________________
Date: ____________________
How to Customize It
Adjust the reporting frequency. While annual attestations are common, consider requiring immediate disclosure of specific triggering events: regulatory investigation notices, director disqualifications, or employment terminations for cause. Don't wait 11 months to learn about something that requires immediate regulatory notification.
Tailor Section 2 to your business. If you operate in sectors with specific conduct risks, such as market manipulation or insider trading, add targeted questions. A wealth management firm might ask about customer complaints alleging unauthorized trading. An investment bank might ask about internal trading surveillance alerts.
Add jurisdictional scope where needed. If your senior managers have worked in multiple countries or hold licenses in multiple jurisdictions, make that explicit. Question 1 should specify "any financial services regulator in any jurisdiction" to avoid the response "I thought you meant UK regulators only."
Consider whether to ask about associates. Some firms ask whether close family members or business associates are subject to certain proceedings. This can get complicated quickly and may not be enforceable depending on your jurisdiction, so get legal advice before expanding the scope beyond the individual's own conduct.
Build in escalation triggers. Your attestation process should specify who reviews completed forms and what happens when someone answers "yes." Make it clear that disclosed information goes to the chief compliance officer and general counsel, not just the HR file.
Validation Steps
Test the form with a real scenario. Before you roll this out, walk through a hypothetical: a senior manager was dismissed from a previous employer after an internal investigation found that they had altered a client presentation to remove unfavorable data. Would your current attestation form catch that? If not, revise the wording.
Confirm your legal obligations. In some jurisdictions, you're required to notify the regulator within a specific timeframe when you become aware of information that may affect an individual's fitness and propriety. Make sure your escalation process can meet those deadlines.
Review your anti-retaliation safeguards. If someone discloses an adverse finding from five years ago at a previous employer, how do you handle it? You need a fair process that evaluates the disclosure without punishing the person for being honest. Otherwise, you'll get attestations that are legally compliant but factually empty.
Check that senior managers understand the scope. The most common failure is a senior manager who genuinely believes something isn't relevant because it happened at an unregulated business or before they joined your firm. Run a training session that walks through the Duckett case and explains why historical conduct matters.
Audit a sample of completed attestations. After your first cycle, pull a random sample and verify that the responses are substantive. If every attestation comes back with "no" checked for all questions and no explanatory detail, you either have the most pristine management team in history or an attestation process that people aren't taking seriously.
The goal isn't to catch people. It's to create a system where integrity issues surface early, get assessed fairly, and get disclosed to regulators when required. A senior manager who reports an uncomfortable fact is protecting both themselves and your organization. Make sure your process rewards that behavior instead of punishing it.
