| Link(s): |
| Supervision | Bank of England |
Context
The PRA and the FCA have launched a new Skilled Persons panel effective from 1 April 2026, which will be in place for four years until 31 March 2030. This panel supports the commissioning of Skilled Person Reports under section 166 of the Financial Services & Markets Act 2000, serving as a key supervisory tool in relation to regulated firms and their groups.
Key points to note and next actions
A Skilled Persons review is one of the regulatory tools we can employ under FSMA 2000 (as amended by the 2012 Act).
Under FSMA, there are two types of Skilled Persons reviews that we can commission:
- s166 Reports by Skilled Persons; and
- s166A Appointment of Skilled Persons to collect and update information.