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Capco Launches Comprehensive Section 166 Service to Help Financial Firms Meet FSA Requirements

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Robert Akam or Joe Eldridge 020 7400 4480 or email rakam@hanovercomms.com or jeldridge@hanovercomms.com
Financial services consultancy supports industry as FSA extends supervisory regime and increases number of S166 requests issued

Capco, the global business and technology consultancy dedicated solely to the financial services industry, today announced the launch of a comprehensive and competitively priced Section 166 (S166) service to support financial firms issued with an S166 notice from the Financial Services Authority (FSA).

A Section 166 or Skilled Person Report is a regulatory tool used by the FSA and requires a financial institution to engage a third-party firm to conduct a review or analysis of a particular function or operation of the bank that is of concern to the FSA. S166s are becoming more widespread as the FSA extends its supervisory oversight in a continued effort to more closely supervise financial institutions.

Capco’s S166 review service draws on the company’s extensive financial services capabilities and subject matter expertise to deliver an S166 report for any area of a bank’s business including data quality, counterparty credit risk, retail credit processes, market risk, programme governance, quantitative models and operating model analysis.

Stephen Vinnicombe, Partner, Capco said, “Capco is taking a fresh approach to S166 reviews. Our team of consultants understands exactly what the regulator is looking for based on their previous FSA work experience and have the deep financial services industry knowledge to deliver an objective analysis for any business area under review. Capco’s size and agility means we can respond quickly to a firm’s request for a skilled person at a highly competitive price point. In addition, our sole focus on the financial services industry rather than audit or tax means we remove any conflict of interest.”

Capco’s financial industry experts can also deliver remediation support for financial firms who have been through Section 166 reviews performed by other organisations.

About Capco
Capco, a global business and technology consultancy dedicated solely to the financial services industry. Our professionals combine innovative thinking with our unrivalled first-hand industry knowledge to offer our clients consulting expertise, complex technology and package integration, and managed services to move their organisations forward.

Through our collaborative and efficient approach, we help our clients successfully increase revenue, manage risk and regulatory change, reduce costs and enhance control. We specialise in banking; capital markets; wealth and investment management; finance, risk & compliance; and technology. We serve our clients from offices in leading financial centres across North America, Europe, Asia and Africa. To learn more, visit our web site at capco.com and subscribe to Capco's newsroom RSS feed.

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