SKILLED PERSON REVIEW UNDER S166 FSMA
A Skilled Person Review is an independent review of a regulated firm, usually focusing on specific issues. They can also be conducted if the regulator wishes to delve deeper into a firm’s activities. It’s just one of the supervisory tools the Financial Conduct Authority (FCA) has at its disposal under Section 166 (S.166) of the Financial Services and Markets Act (FSMA).
Whilst the FCA ultimately commissions the report, they will nominate, or ask the firm to nominate, a Skilled Person to undertake the work. These are firms able to undertake certain types of review.
A Skilled Person Report will establish the extent of any problems and / or the degree of any customer detriment. It will help the FCA determine the extent of any remedial action that needs to be undertaken, the ongoing supervisory relationship the firm has with the FCA and whether enforcement action should be taken.

HOW CAN HUNTSWOOD HELP?
If your firm has received an s.166 draft notice, Huntswood is equipped to scope and undertake a review that meets the FCA’s specifications.
Huntswood’s proximity to regulatory issues and its dialogue with the FCA means that our experts can help your firm re-gain the regulator’s trust in the event of a review.
Huntswood is on the following FCA Skilled Person panels
‘Lot B’
(Governance and Individual Accountability)
‘Lot D’
(Conduct of
Business)
Related content
Regulatory Risk and Assurance
Helping firms mitigate compliance risk while delivering good business and customer outcomes
Complaints Excellence
Turn complainants into advocates by delivering customer service excellence
Past Business Review and Remediation
Review past business and identify where remediation could enhance your reputation and ensure good outcomes
Compliance Monitoring
A proactive approach to regulatory compliance
Latest Insights
Complaints
Podcast: Making it easy to complain
Huntswood’s Richard Brown is joined by consumer behaviour experts Sam Bettis and Patricia Riddell to discuss the importance of making it easy to complain
Complaints
What have we learnt from complaints during the pandemic?
At a time of increasing financial and emotional pressure, firms that put complaints excellence at the centre of their operations, will win customer trust and earn long‐term loyalty
Complaints
The unanswered questions from the Complaints Outlook 2021 Launch Event
Richard Brown – Huntswood’s Technical Adviser in Complaints – answers some of the questions asked at the Complaints Outlook 2021 launch event
Financial Crime
Research report: Fighting Cyber Crime
This paper demonstrates just how prevalent cyber enabled fraud has become, affecting all of us in some way.
SIGN UP FOR REGULAR INSIGHT
Keeping up-to-date with the latest industry topics and regulatory issues can be quite time-consuming!
Thankfully, our regulatory experts are here to help you stay on top of it all. Fill in the short form below to receive a monthly round-up of our insight, news and analysis.