Retail Risk Register The Code Manager has undertaken the annual review of the Retail Risk Register. During the previous cycle, the consultation feedback suggested there is an opportunity to simplify how information is presented for ease of reference. The Code Manager has taken this feedback onboard and reconsidered how the document is structured with readability and accessibility in mind. Therefore, this version of the Retail Risk Register has undergone significant change in terms of layout. Additionally, we have carried out an exercise to capture macro level risks across the REC landscape which then drill down into specific Code Process or Service Performance risks where applicable. To ensure REC stakeholders have a single view of Retail Risk, which part of the Code they relate to and also what activities the PAB and/or the Code Manager is undertaking to monitor or manage them, we have added more information within the main page of the Risk Register. This document was presented to PAB on 24 September 2024 and has been approved subject to an industry consultation. POAP The Code Manager prepares an annual operating plan setting out the techniques it intends to apply to manage Retail Risks identified within the Retail Risk Register. This plan, referred to as the Performance Assurance Operating Plan (PAOP), sets out the Performance Assurance priorities and is approved and tracked by the PAB. The current updates set out the Performance Assurance Operating Plan for 2024-25