FCA skilled persons reviews decline dramatically

In the three months to December, the Financial Conduct Authority (FCA) commissioned four skilled persons reviews, compared with an average of about 14 for each of the previous six quarters. Skilled persons reports - also called s166 reviews - are commissioned by the FCA when it is concerned about a firm's activity in areas such as governance, controls and risk management, conduct of business, financial crime management or IT infrastructure. Pressed on what caused last quarter's decline, the FCA said it does not have a target for the number of reviews it commissions and the numbers ten...