Section 166/Skilled Person Review
We develop effective remediation action plan
Under the Financial Services and Markets Act, as amended by the 2012 Act, the regulator has the power to require a firm to appoint a Skilled Person to produce a report on specified matters or to appoint a skilled person directly. Receiving a regulatory requirement notice, is a daunting experience for any firm, especially who are unfamiliar with the process. At Kharis & Knoble, our experts can provide support and help you navigate the stormy waters.
We stand in the gap
Here is how we can help
With our expertise at Kharis & Knoble, we can help you run your remediation programme from start to finish with appropriate governance, processes, document, and overall project management in place. 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, townhalls with a view to testing operational effectiveness of the programme at regular intervals to avoid any surprises at the end of the project.
Preparing for Section 166/Skilled Person Review
Managing regulatory intervention and running a business at the same time is a difficult task and should not be underestimated. It’s crucial that you respond to a remediation request or Section 166 requirement notice in a timely manner, liaising appropriately with the regulator during the course of the process and getting the initial response right because that will set the tone of the regulator engagement. At Kharis & Knoble, our remediation change roadmap delivers clearly defined, tangible results that is robust, consistent and sustainable.
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