The FCA has published its Skilled Persons Reports for Q4 2015/16 with figures correct as at 31 March 2016.
Of the ten reports in total, four related to Banks (including Building Societies) and two related to consumer credit firms. Out of the ten reports commissioned in the quarter, one was under the FCA’s powers introduced in the Financial Services Act 2012, allowing for it to contract directly with a skilled person.
The FCA has also published its attestations figures for Q4 2015/16. FCA attestations are a supervisory tool used to ensure clear accountability and a focus from senior management on putting things right in regulated firms. By requesting an attestation, the FCA seeks to gain personal commitment from an approved person at a regulated firm that specific action has been taken or will be taken.
The FCA has confirmed that in Q4 2015/16 a total of 12 attestations were requested (6 fixed and 6 flexible). Of these, 2 attestations (fixed) were in retail banking.