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 2025-26. Please note this is a draft version for consultation and it will be updated based on feedback and taken to the August PAB meeting for approval.