Richard Farr explains why increased competition within the skilled person ecosystem works for everyone...
The Financial Conduct Authority (FCA) plays a crucial role in safeguarding consumers and promoting market integrity within the financial services sector. One key tool in the regulator's arsenal is the requirements notice (RN). A RN instructs a regulated firm to commission an independent review of specific aspects of its operations by a skilled person. This skilled person, typically a consulting or legal firm, acts as an objective party, analysing the firm's compliance within FCA regulations and reporting back to both the firm and the FCA supervisor on the outcome. The FCA Skilled Pers...
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