s166 Skilled Person Review

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:

  • A more forward-looking assessment of potential risks in order to identify problems earlier

  • Intensive supervision of firms, including early intervention

  • Ensuring appropriate level of redress

  • 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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