This Practice Note considers how firms can prevent a potential regulatory breach from escalating to a serious issue subject to FCA and/or PRA enforcement. It considers the risks for firms and senior managers of not notifying or reporting a breach to the regulator. It sets out the practical considerations for firms on discovering a breach, including: planning and strategy in relation to internal investigations; dealing with individual misconduct; securing evidence; the role of senior managers when a breach occurs; notifications to the market under LR 9.2; informing other parties of a breach such as insurers and auditors; publicity and public relations (PR) strategy; and further consequences of breaches such as civil proceedings and interest from other regulators.