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Our team of experienced consultants are able to work with firms to understand the regulatory risks affecting their business and to design bespoke programmes to resolve these. We believe that no two firms are the same and therefore providing “off the shelf” solutions provides little value and may actually compromise the firm’s ability to meet their regulatory obligations.
Areas that our consultants can assist with include:
- Risk assessments and mitigation plans
- Monitoring plan design and audit
- Provision of Training Courses
- FSA applications and authorisation
- Capital adequacy issues
- Due diligence exercise
- Section 166 - Skilled Persons Report
This is not an exhaustive list but highlights the wide area of expertise that is available at Paradigm.
Section 166 Skilled Persons Review
If your firm has been placed under scrutiny by the FSA you may have been issued with a notice requiring a Skilled Persons Review to be conducted as defined under Section 166 of the Financial Services and Markets Act 2000 (FSMA). Section 166 requirements vary depending upon the scope and nature of the FSA review but they require the firm to engage an independent external expert.
Drawing on our considerable knowledge, skills and expertise Paradigm are able to carry out Section 166 Skilled Persons Reports in a wide range of areas including (but not limited to):
- Adequacy of Internal Systems and Controls
- Review of past business
- Assessment of effectiveness remedial action taken to address concerns previously raised by the FSA
- Assessment of the conduct of the firm’s activities
To discuss how we can help with the requirements of your Section 166 notice please call 0845 303 6333.
Our advice and guidance will always be made having considered the commercial and pragmatic consequences of the actions, and we will always discuss our advice with our clients to ensure that all parties understand their respective responsibilities.
By adopting a progressive, business-focused approach to regulatory consulting, Paradigm provides a value-adding service to our clients who need assistance with compliance issues.
