Marjolaine Quirke shares her compliance insight with PA readers, outlining how to navigate a s166 review...
In an increasingly data-led and outcomes-focused regulatory environment, the Financial Conduct Authority (FCA) continues to deploy skilled person reviews – also known as s166 reviews - to investigate and resolve supervisory concerns. For firms in the wealth, investment, and advice sectors, the risk of a 166 review, often triggered by conduct issues, poor client outcomes, or governance weaknesses, has never been more significant. Understanding skilled person reviews (s166) A skilled person review, conducted under section 166 of the Financial Services and Markets Act 2000 (FSMA), is a...
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