Validation and verification of the '9.1 Fiduciary Activity' Sheet (September 2019)

Summary

This is a technical JFSC guidance note explaining the automated validation and verification checks applied when an OIB submits the '9.1 Fiduciary Activity' sheet of its prudential reporting template. It does not create new substantive requirements but documents how the Commission checks submitted data and what error messages mean.

• Data entry limits: Monetary amount cells in the template only accept whole numbers between -1,000,000,000 and +1,000,000,000 (representing up to +/- £1 trillion given the £1,000 unit), unless otherwise noted.
• Excel is not a failsafe: Built-in Excel validation only triggers on direct input or manual request, so OIBs are expected to check their own data in addition to the JFSC's checks on submission.
• Submission process: Submitting the template triggers the JFSC's checks; if all checks pass, the submission is accepted and the OIB is notified along with any warnings generated.
• Error identification: Each validation test has a unique 'Check' number that appears in any failure message so the OIB can match it to the guidance table (e.g. Checks 1 to 3 relate to cells C3 to C5 on the '9.1 Fiduciary Activity' sheet requiring whole numbers in the stated range).

The note is a reference tool for completing the prudential return accurately rather than a source of new reporting deadlines or fees.

Key obligations

• Enter monetary values in the '9.1 Fiduciary Activity' sheet as whole numbers within the range -1,000,000,000 to +1,000,000,000 (representing +/- £1 trillion) unless otherwise noted
• Check submitted data independently, since Excel's built-in validation is not a failsafe and the JFSC will also check data on submission

Applies to

OIBs