What's Happening?
Grant Thornton has been re-appointed to the Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA) panels of Skilled Persons. This re-appointment follows a competitive retendering process for the 2025/26 period. The FCA and PRA have
refreshed their 'skilled person' investigations panel, appointing five major law firms for four-year terms. These panels are utilized by financial regulators for independent reviews, known as s166 reviews, into the conduct and activities of regulated firms. Grant Thornton's Regulatory Advisory team led a strategic and technical approach to the re-tender, securing success across all 11 lots it applied for. This provides the firm with broad coverage across various technical areas that Skilled Person reviews can encompass. The updated framework includes new panels for transaction reporting and market abuse.
Why It's Important?
The re-appointment of Grant Thornton to the FCA and PRA panels is significant for the financial services industry, as it underscores the firm's expertise and capability in regulatory advisory services. This appointment allows Grant Thornton to continue providing critical oversight and independent reviews of regulated firms, ensuring compliance and integrity within the financial sector. The firm's success in securing all 11 lots it applied for highlights its comprehensive expertise and positions it as a leading provider of Skilled Person services. This development is crucial for maintaining robust regulatory frameworks and protecting the interests of stakeholders in the financial industry.
What's Next?
With the new Skilled Persons panels in place for the next four years, Grant Thornton will continue to support regulators and regulated firms through its role as a Skilled Person. The firm will assist in navigating Skilled Person appointments and provide expertise across a wide range of technical areas. This ongoing involvement will likely influence the regulatory landscape, as Grant Thornton's insights and reviews contribute to shaping industry standards and practices. Stakeholders in the financial sector can expect continued collaboration and oversight from Grant Thornton, ensuring adherence to regulatory requirements and promoting transparency.
