S166, Skilled Person Reviews & FCA Intervention
Facing a Section 166 review or FCA intervention?
TCC provides firms with independent assurance, governance and practical support through regulatory challenge.
Regulatory concerns rarely begin with a Section 166 review. More often, they start with supervisory engagement, governance weaknesses, customer outcome concerns or gaps in regulatory evidence. TCC helps firms prepare for, respond to and recover from FCA intervention through independent assurance, evidence reviews, governance assessments and practical remediation support. From early-stage regulatory concerns through to Skilled Person reviews and complex remediation programmes, we help firms reduce uncertainty, demonstrate meaningful progress and strengthen regulatory confidence.
What we help with
Preparing for regulatory challenge. Delivering meaningful improvement.
When do firms typically come to TCC?
Most firms engage TCC when regulatory concerns have been raised, supervisory engagement is increasing or a Section 166 review appears likely. Increasingly, firms also seek independent assurance before issues escalate, particularly where customer outcomes, governance, Consumer Duty, financial crime or operational controls are under scrutiny.
What does a TCC engagement look like?
We begin by understanding the FCA's concerns, regulatory history and the firm's existing evidence base. Our specialists assess governance arrangements, customer outcomes, policies, controls and management information to identify gaps and priorities. We then help firms prepare evidence, engage confidently with regulators and deliver practical remediation programmes where improvements are needed.
What do clients receive at the end?
Clients receive a clear view of regulatory risks, strengths and improvement priorities. Deliverables may include assurance reports, governance reviews, remediation roadmaps, board reporting, evidence packs and implementation support. The objective is not simply to respond to regulatory concerns, but to strengthen the firm's long-term control environment and regulatory resilience.
Services covered
Independent assurance, evidence and remediation support before, during and after FCA intervention
Regulatory concerns rarely begin with a Section 166. They usually start with supervisory engagement, governance weaknesses, customer outcome concerns or gaps in regulatory evidence. TCC helps firms prepare for, respond to and recover from FCA intervention, combining independent assurance with practical remediation delivery.
- Section 166 readiness reviews
- Skilled Person support
- Regulatory health checks
- Governance reviews
- Evidence preparation
- FCA remediation support
- Independent assurance
- Regulatory gap analysis
- Programme mobilisation
- Specialist resourcing
Case studies
Our expertise in practice
Advisory servicesSMCR post-implementation reviewDiscover how TCC Group designed a collaborative, remote SMCR post-implementation review for a leading general insurer, ensuring ongoing regulatory compliance and cultural improvement during a chaotic…Read more →
Advisory servicesSMCR assuranceLearn how TCC Group's Senior Managers and Certification Regime (SMCR) assurance review helped a leading broker identify critical gaps in responsibilities and submit evidence with absolute…Read more →
Advisory servicesRegulatory due diligenceDiscover how TCC Group's deep regulatory due diligence and cultural assessment helped a large financial planner identify material risks and integrate a target acquisition smoothly.Read more →FAQs
Common questions
What is a section 166 skilled person review?
A Section 166 review is an independent assessment commissioned under the Financial Services and Markets Act when the FCA requires additional assurance about specific aspects of a firm’s activities, governance or controls.
What typically leads to a Section 166 review?
Section 166 reviews may arise where the FCA has concerns relating to customer outcomes, governance, financial crime controls, advice suitability, operational resilience, complaints handling or wider conduct risks.
Can firms prepare for a Section 166 review?
Yes. Independent assurance reviews, governance assessments and evidence testing can help firms identify weaknesses and address risks before regulatory intervention escalates.
How can TCC support firms during FCA intervention?
TCC helps firms assess regulatory concerns, prepare evidence, challenge assumptions where appropriate, strengthen governance and deliver practical remediation programmes.
What happens after a Section 166 review?
Most firms are expected to address findings through remediation activities, governance improvements, enhanced oversight and strengthened controls. The FCA may continue supervisory engagement until concerns have been addressed.
Can TCC support remediation programmes following regulatory findings?
Yes. We support remediation planning, programme governance, customer reviews, outcome testing, specialist resourcing and ongoing assurance activities.
Does Section 166 support only apply to large financial institutions?
No. FCA intervention can affect firms of all sizes across banking, lending, payments, wealth management, pensions, insurance and motor finance.
How does Consumer Duty relate to FCA intervention?
The FCA increasingly focuses on whether firms can evidence good customer outcomes. Weaknesses in Consumer Duty governance, customer support, fair value, consumer understanding or outcome monitoring may contribute to wider regulatory concerns.
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