Section 166s Issued
Section 166s issued by the FCA Since 2013
Those are from the FCA's database
FCA REVIEWS
Section 166 of FSMA (s166) gives the FCA the power to get an independent view of aspects of a firm’s activities that cause FCA concern or if FCA needs further analysis. Either the firm or, under the Financial Services Act 2012, the FCA can appoint the skilled person firm(s) to do this. In each case, the FCA sets the scope of the review and the firm pays the costs.
The statistics for section 166 costs per case in million
The table below the average cost per case, standard deviation around the average, and the 50, 75, 90 and 95th percentiles from the underlying FCA data
The 95 percentile value in the table below is the 1 in 20 cost per case that could result from a S166 case and this value is calculated from the historical actual FCA data.
The distribution on the right uses the historical data and fits a lognormal curve into the data. This enables us the to extrapolate the cost per case beyond 1 in 20, i.e. 95%-tile into higher levels, e.g. 1 in 200 confidence level (99.5%-tile). The curve on the right is the fitted cost per case curve.
The bottom part of the table shows the modelled percentiles from the curve, i.e. extrapolates it to 97.5%-tile (1 in 40) and to 99.5%-tile (1 in 200).
Here are some apps you should try…
Model S166 impact with
Internal Loss Data Plus which will enable you to re-produce the statistics here if you upload the S166 costs.
Model capital requirement from the S166 scenairo with
Risk Scenario Plus with probability assumptions for the occurrence of a S166.
Model dependencies between scenarios with
Correlation Plus that links fundamental drivers to risk scenarios.
Here are the relevant Section 166 links for each year...
2024-2025 Data for more details on Section 166s issued, total cost and areas of focus.
2023-2024 Data for more details on Section 166s issued, total cost and areas of focus.
2022-2023 Data for more details on Section 166s issued, total cost and areas of focus.
2021-2022 Data for more details on Section 166s issued, total cost and areas of focus.
2020-2021 Data for more details on Section 166s issued, total cost and areas of focus.
2019-2020 Data for more details on Section 166s issued, total cost and areas of focus.
2018-2019 Data for more details on Section 166s issued, total cost and areas of focus.
2017-2018 Data for more details on Section 166s issued, total cost and areas of focus.
2016-2017 Data for more details on Section 166s issued, total cost and areas of focus.
2015-2016 Data for more details on Section 166s issued, total cost and areas of focus.
2014-2015 Data for more details on Section 166s issued, total cost and areas of focus.
2013-2014 Data for more details on Section 166s issued, total cost and areas of focus.
2012-2013 Data for more details on Section 166s issued, total cost and areas of focus.