Section 166/Skilled Person Review
We develop effective remediation action plan
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 they are 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.
We stand in the gap
Here is how we can help
Remediation Programme
With our expertise at Kharis & Knoble, 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 utilise your in house compliance resource and provide additional resource where necessary. In addition, we will develop and implement effective training, change campaigns and town halls, with a view to testing operational effectiveness of the programme at regular intervals using data driven and AI supported assurance to avoid any surprises at the end of the project.
Preparing for Section 166/Skilled Person Review
Managing regulatory intervention while running a business is a complex task and should not be underestimated. It is crucial to respond to a remediation request or Section 166 requirement notice in a timely manner, liaising effectively with the regulator throughout the process and getting the initial response right as this sets the tone for regulatory engagement, supported by AI enabled insights to strengthen clarity and consistency.
At Kharis & Knoble, 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 requirement notice or negotiating the scope thereof, Kharis & Knoble can help. Speak to one of our experts today! Contact us