Butterworth's Journal of International Banking and Finance Law

The Financial Services and Markets Act 2000 (FSMA) gives the UK’s Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA) a range of powers that either may use to gather information about an authorised firm. This includes the power to commission a “skilled person report” in accordance with s 166 of FSMA.

In this article, Doug Cherry, Tim Dolan, and Hannah Sheikh describes what a skilled person report is, what a skilled person report can be commissioned for, what the consequences are for an entity in practice and considers how often skilled person reports are commissioned by the regulators.

Download the PDF below to read the full article.