What's Happening?
Grant Thornton has been re-appointed to the Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA) panels of Skilled Persons following a competitive retendering process for 2025/26.
These panels are used by financial regulators for independent reviews, known as s166 reviews, into the conduct and activities of regulated firms. Grant Thornton's Regulatory Advisory team successfully applied for all 11 lots, showcasing the firm's extensive capabilities across financial services. The updated framework includes new panels for transaction reporting and market abuse, reflecting the evolving regulatory landscape.
Why It's Important?
The re-appointment of Grant Thornton to the FCA and PRA panels underscores the firm's expertise and leadership in regulatory advisory services. This development is significant for the financial services industry, as it ensures continued rigorous oversight and independent reviews of regulated firms. The introduction of new panels for transaction reporting and market abuse highlights the regulators' focus on enhancing transparency and accountability in financial markets. This move is likely to bolster investor confidence and contribute to the stability of the financial system.
What's Next?
With the new Skilled Person panels in place for the next four years, Grant Thornton will continue to support regulators and firms in navigating regulatory challenges. The firm will likely focus on expanding its services and adapting to new regulatory requirements. The financial industry can expect ongoing scrutiny and potential adjustments to compliance practices as regulators emphasize market integrity and consumer protection. Stakeholders will need to stay informed about regulatory changes and ensure adherence to evolving standards.
