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FCA Section 166 & How to manage a Skilled Person Review

Please download our brochure regarding assistance for a Skilled Person Review (FCA Section 166), after completing the form below.

What is a s166?

When an FCA section 166 review notice is served, the FCA will nominate, or ask the firm to nominate, a Skilled Person to undertake the review and investigate the firm. A skilled person review is an independent review of a regulated firm, usually focusing on specific issues where the regulator wishes to investigate a firm’s activities. The skilled person review’s report will be produced and quantify and establish the extent of any problems and/or the degree of any customer detriment. a Skilled Person Review (SPR) is an evidentially based assessment of the area cited in the requirements notice and the FCA creates the scope of the report needed. It also allows the FCA to determine if any remedial action needs to be undertaken, the ongoing supervisory relationship required and whether enforcement action should be taken.

To help you to manage your skilled person review, we can work as an interface between you and the S166 Skilled Person or act as Advisory only to you. We can create a meaningful and effective suggested risk mitigation plan to fulfil any gaps. amend anomalies or rectify any errors before the report is finalised.

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