ATEB undertakes Section 166 Conduct of Business Skilled Persons Reviews. We have completed numerous reviews on the FCA's behalf for projects as diverse as pensions transfers, QROPS, pension switching, debt mangement and mortgage advice.
Section 166 of the Financial Services & Markets Act concerns Skilled Persons i.e. those that have the requisite skills to undertake regulatory reviews. The majority of firms capable of undertaking S166 reviews are high street consultancies who will undoubtedly offer a good service, but at a high street consultancy price! While ATEB offers the highest quality (as can be proven) we do not charge high street consultancy prices.
Our S166 projects start with a blank page and no pre-conceived ideas. While the FCA's remit is to avoid and rectify any consumer detriment, we will work pragmatically with firms to achieve a fair outcome for all parties.
We can also undertake in-house or other regulatory reviews on your behalf, perhaps as required by PI insurers or as initiated by the FCA following themeatic reviews. By way of example, we have conducted a number of pension switching reviews and pension transfer reviews where we worked with firms and PI insurers to agree a practical and thorough assessment of standards and to build in forward planning and risk management strategies to proactively limit the potential for future non-compliance.