We develop effective remediation action plans
Under Section 166 of the Financial Services and Markets Act, and equivalent independent review powers in other global regulatory regimes, regulators may require firms to appoint a skilled person to produce a report on specified matters, or appoint one directly.
Receiving a Section 166 notice can be a daunting experience for any firm, particularly where it is unfamiliar with the process. At Kharis & Knoble, our experts provide AI enabled regulatory insight and practical support to help you navigate skilled person reviews with confidence, control and clarity.
The Journey
1
Getting the initial response right and agreeing a clear, proportionate scope.
2
Preparing your people, evidence and data, and supporting you throughout.
3
Understanding the findings and responding in a measured, credible way.
4
Delivering sustainable change and evidencing it to the regulator.
Our Services
01
It is crucial to respond to a Section 166 requirement notice in a timely manner and to get the initial response right, as this sets the tone for regulatory engagement. We help you understand what is being asked, engage constructively with the regulator and, where appropriate, discuss the scope so that the review is clear, focused and proportionate.
02
Managing regulatory intervention while running a business is a complex task and should not be underestimated. We help you prepare your people, documentation and data for the review, liaising effectively with the regulator throughout the process, supported by AI enabled insights to strengthen clarity and consistency.
03
We support you while the skilled person carries out their work, helping you respond to information requests, prepare for interviews and maintain a clear, well organised evidence trail, so the review runs smoothly and your business can continue to operate.
04
We help you understand the skilled person’s findings, check their factual accuracy and develop a measured, credible response and action plan that demonstrates to the regulator that issues are understood and being addressed.
05
We can help you run your remediation programme from start to finish, with appropriate governance, structured processes, documentation and overall project management in place, supported by AI enabled tracking and oversight. We will work with you to make use of your in house compliance resource and provide additional resource where necessary. We will also develop and implement effective training, change campaigns and town halls, and test the operational effectiveness of the programme at regular intervals using data driven and AI supported assurance, so there are no surprises at the end of the project.
06
Before remediation is presented as complete, we independently test that changes have been embedded and are working in practice. Our remediation change roadmap delivers clearly defined, tangible results that are robust, consistent and sustainable, underpinned by technology enabled oversight and data driven execution.
Whether you need help with a requirement notice, agreeing its scope or delivering remediation, Kharis & Knoble can help.
