Section 166 (skilled persons) review

What is a skilled persons review?
Section 166 of the Financial Services & Markets Act 2000 (FSMA) gives the FCA and PRA the power to commission an independent review into certain areas of a firm's activities that cause concern or which require further analysis.

Under FSMA, as amended by the 2012 Act, the FCA and the PRA have the power to commission two types of skilled person reviews:
 
  • s166 reports by skilled persons;
  • s166A appointment of skilled person to collect and update information.
Moore Stephens was reappointed to all Lots on the Skilled Person Panel in April 2017 by the FCA. For more information view the Skilled Person Panel and Lot Descriptions.
 

“We have found Moore Stephens to be a market leading firm well capable of carrying out specified regulatory audits and providing regulatory consultancy services. Importantly, they understood the requirements of the assignment from both a business and a regulatory perspective. The scope of work and costings were accurate, detailed & fair based on s166 scope from the FCA. I would fully recommend engaging Moore Stephens to provide professional services and advice.”

Head of Compliance & Risk, Leading CFD and broking firm