Prepare for Your FCA
Skilled Person Review
with Confidence
A comprehensive, ready-to-use toolkit covering every stage of the Section 166 process — from the moment you receive the FCA’s notice through to post-review remediation and ongoing monitoring.
A Section 166 Notice Changes Everything
Receiving a Section 166 notice from the FCA is one of the most significant regulatory interventions your firm can face. It sits between routine supervision and formal enforcement — and how you respond in the first days and weeks can define the outcome of the entire process.
Most firms have never experienced a Section 166 review before. Without a structured approach, the risks of a poor outcome multiply.
Delayed Responses
Slow or disorganised responses to information requests signal poor governance and extend the review timeline — increasing costs and regulatory concern.
Documentation Gaps
Policies that are outdated, missing, or inconsistent with actual practice are among the most common findings in Section 166 reports.
Unprepared Staff
Staff who are not properly briefed for interviews can inadvertently create negative findings that do not reflect the firm’s actual compliance culture.
Everything You Need — From Notice to Remediation
Understanding Section 166 Reviews
Clear explanation of the legal framework, FCA’s approach, types of reviews, and your firm’s rights and obligations under FSMA 2000.
Foundation KnowledgePre-Review Preparation Framework
Structured 24-hour, 48-hour and first-week response protocol. Governance Readiness Assessment, Document Readiness Checklist, and Staff Preparation Guide.
Critical First StepsSkilled Person Selection
Selection Criteria Assessment Matrix with weighted scoring, Terms of Reference Review Guide, and Cost Estimation framework.
Strategic AdvantageProject Management Framework
Internal team structure aligned to SMCR functions, 7-phase project timeline, communication protocols, and information security procedures.
Operational ControlInformation Request Management
Structured process with tracking log template and quality assurance checklist ensuring every submission meets the expected standard.
Process EfficiencyGap Analysis & Self-Assessment
RAG-rated assessment matrices covering Governance, Financial Crime Controls, and Consumer Duty — with prioritised remediation planning.
Proactive ReadinessStakeholder Communication Templates
Ready-to-adapt Board Notification, Staff Communication, and FCA Communication templates with practical drafting guidance.
Ready-to-UseDuring the Review — Operational Guide
On-site visit management, structured interview preparation (before, during and after), real-time issue escalation, and progress monitoring.
Practical GuidancePost-Review Action Planning
Findings Analysis Framework, Remediation Action Plan, Board Reporting Template, Regulatory Response Guide, and Ongoing Monitoring Framework.
Complete LifecycleBuilt for Compliance Professionals at FCA-Regulated Firms
One Toolkit. Complete Preparation.
Frequently Asked Questions
Section 166 of the Financial Services and Markets Act 2000 gives the FCA the power to require authorised firms to commission a report from a “skilled person” — an independent expert who reviews specific aspects of the firm’s business. It is one of the FCA’s most significant supervisory tools, sitting between routine supervision and formal enforcement action.
Yes. The toolkit includes an Initial Response Protocol with structured actions for the first 24 hours, 48 hours, and first week following receipt of a notice. It is designed to be immediately actionable whether you are preparing proactively or responding to a live review notification.
Absolutely. The toolkit is delivered as a fully editable Microsoft Word (.docx) document. All templates, checklists, assessment matrices, and communication templates are designed to be adapted to your firm’s specific circumstances, size, and regulatory requirements.
The toolkit is designed for any FCA-regulated firm that may be subject to a Section 166 review, including banks, investment firms, insurance companies, payment services firms, consumer credit firms, and other authorised persons. It is equally useful for compliance consultants advising regulated firms.
No. This toolkit provides practical frameworks and templates to support your preparation, but it does not constitute legal or regulatory advice. We strongly recommend engaging external legal counsel with Section 166 experience alongside using this toolkit. The toolkit itself advises on when and how to engage legal support.
The toolkit is delivered instantly via digital download following purchase. You will receive a download link by email immediately after your payment is processed through our secure E-Junkie checkout.
