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FSA Skilled Persons Reports UK - Haven Risk Management

Haven Risk Management

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FSA Skilled Persons / Section 166 Reports

We undertake FSA ‘Skilled Persons Reports’ otherwise known as ‘Section 166’ reports. If the FSA has concerns after a visit to a firm they are increasingly asking for a second opinion.

The onus is then on the firm to produce a short list of Compliance Consultancies who they consider would be suitable and submit this to the FSA. The firm may nominate the consultancy which they would prefer, however, it is up to the FSA to make the final decision. If chosen, our approach to the skilled persons report is pragmatic and completely independent and takes into account all relevant factors.

FSA Skilled Persons / Section 166 Reports

Unregulated Collective Investment Schemes (UCIS) are currently a high priority with the regulator. We have conducted a number of Section 166 Skilled Persons Reports in relation to this product.

File reviews are also sometimes asked for which are not full blown ‘Section 166’ reports but again ask for a second opinion on files which the FSA has reviewed.

Please contact us for further information.