An organised set of information maintained to support the handling of a firm’s failure under the relevant safeguarding framework.
Why the distinction matters
The operational issue is retrieval. A pack should not depend on someone finding a lost password or remembering which folder contains a current bank agreement. Check the applicable content requirements and test whether another person can navigate the file.
In the working file
Illustrative example
A retrieval exercise records how long it takes to locate account details, reconciliations and responsible contacts, without pretending that the exercise itself proves compliance.
Use the term in context
Record the legal entity, activity, period and applicable source alongside the term. A familiar label does not remove the need to establish scope. Our operating playbook connects this definition to a practical process.
Read the related playbookSources & scope
Primary sources used for this research edition. Document dates and commencement dates are different fields. Recheck the issuing authority before acting.
- FCA: Safeguarding requirements for payment and e-money institutionsGuidance · source reviewed 12 November 2026
- FCA Handbook: CASS 15: relevant fundsHandbook · source reviewed 12 November 2026