Choosing a trusted and experienced partner to carry out a Section 166 Skilled Person Review is essential. At TCC, we recognise and therefore minimise the commercial impact of a Section 166 to your business reducing the potential for a painful experience.
Many of our clients chose us as a better value alternative to the larger firms on the S166 panels who are predominantly accountancy/audit and legal who come with a premium that this is not always proportionate to the issue at hand or the size and scale of the firm subject to review.
Under Section 166 (S.166) of the Financial Services and Markets Act (2000) the FCA and PRA have the power to require your firm to appoint (and pay for) a Skilled Person to undertake a review.
As the outcome of a Section 166 can materially influence your future ongoing engagement with the FCA, it is critical you select a regulatory specialist that understands your business model and can act in a manner that is professional, fair and balanced.
A Section 166 can be an expensive exercise. To alleviate the financial burden on our clients we provide a value-driven service that seeks efficiencies whilst remaining robust in quality and depth.
How can we help?
TCC (The Consulting Consortium) is listed on the FCA’s Skilled Person Panel, approved to conduct reviews of:
- Conduct Of Business (Lot D);
TCC has successfully delivered Skilled Person Reviews across the breadth of financial services sectors. With our specialism in transforming culture and conduct, we have significant experience identifying the root causes of issues that led to FCA enforcement action.
We pride ourselves on providing a cost-effective and proportionate solution without compromising on technical competency. We bring a practioner’s view that is focused on the right outcome for your firm, your customers and the FCA.
Why partner with TCC?
You can trust TCC to conduct a pragmatic and fair Skilled Person Review. Our S166 clients choose us because of our:
- Expertise – a choice of technical regulatory specialists with previous experience acting as an individually nominated Skilled Person.
- FCA relationships – we have a unique relationship with the FCA as many of our team have recent direct experience working in their supervisory teams.
- Value-driven – we provide commercially balanced solutions and seek efficiencies where possible whilst also satisfying the regulator.
- Customer-focused – we care about finding the right solution for both you and your customers.