The regulatory bar is constantly being moved higher and scrutiny from the FCA has become more intense.
A Skilled Person Review is one of the regulatory tools the FCA can employ under FSMA as amended by the 2012 Act. The number of Skilled Persons Reports has grown dramatically in the last 5 years. Currently running at around 300 a year, the number is expected to increase in the next two years.
There are two types of Skilled Person Review as amended by the 2012 Act that gives the FCA the power to commission reviews by Skilled Persons as required:
• s166 Reports by Skilled Persons; and/or
• s166A Appointment of Skilled Person to collect and update information.
At Thistle Initiatives we have considerable expertise at undertaking Skilled Persons Reports and can help with all stages of the process, particularly in undertaking such a report and implementing any recommendations that may arise from such findings.
If you would like further information regarding the wide range of work we do for finance firms, please get in touch to learn more about our services and how Thistle can help you, please contact us on 020 7866 2132 or email us on firstname.lastname@example.org