Guidance Note - Validation and verification of the '9.1 Fiduciary Activity' Sheet (JIBs)

Summary

This guidance note explains the automated validation and verification checks that the JFSC runs when a JIB submits the '9.1 Fiduciary Activity' sheet as part of its prudential reporting. It describes how the Excel template restricts data entry and how the JFSC re-checks submissions on receipt, flagging any failures or warnings back to the filer.

• Numeric range limits: Monetary amount cells only accept whole numbers between -1,000,000,000 and +1,000,000,000 (in units of £1,000), unless otherwise noted, allowing values up to roughly +/- £1 trillion.
• Excel checks are not a failsafe: Built-in Excel validation only runs on direct input or manual request, so JIBs are expected to check their own data rather than rely solely on the spreadsheet.
• JFSC re-validation on submission: Submitting the template triggers the JFSC's own checks; if all pass, the submission is accepted and the JIB is notified together with any warnings.
• Error identification: Each validation test has a unique 'Check' number referenced in any failure message so the JIB can match it to the corresponding item in this guidance.
• Example checks listed: The document sets out sample checks (e.g. Checks 1-3 on Sheet '9.1 Fiduciary Activity', items A.1-A.3, cells C3-C5) requiring whole-number input within the stated range.

The note is a technical reference for completing the fiduciary activity data sheet correctly rather than a source of new substantive obligations; it supports accurate completion of existing JIB prudential reporting requirements.

Key obligations

• JIBs must ensure data entered on the '9.1 Fiduciary Activity' sheet consists of whole numbers within the range -1,000,000,000 to +1,000,000,000 (in £1,000 units) unless otherwise specified.
• JIBs should independently check their own data for accuracy before submission, since Excel's built-in validation is not a failsafe.
• JIBs must review and address any validation failure or warning messages referencing a specific Check number before or after submission.

Applies to

JIBs