Monique Melis
Managing Director and Global Head of Compliance and Regulatory Consulting
London
Monique Melis
s166 Skilled Person Review
Claire Simm
Managing Director
Compliance and Regulatory Consulting
London
Claire Simm
Duff & Phelps has an experienced team that has undertaken a significant number of Skilled Persons reviews in the UK.
The Skilled Persons Report is a component of the tools that the regulator uses to intervene early when a particular risk they perceive is identified. The skilled persons report seeks to shift to a more proactive and outcomes-focused style of supervision with four main elements:
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A more forward-looking assessment of potential risks in order to identify problems earlier
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Intensive supervision of firms, including early intervention
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Ensuring appropriate level of redress
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Achieving a credible deterrent by taking action against firms that fail to meet standards
Duff & Phelps has systems in place to address and mitigate risks identified by the regulator and will assist firms to ensure a route to a compliant culture where policies and systems are established that are in line with sound industry practice.
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