Consulting & Advisory

FCA S166 Remediation

A U.K based broker dealer required assistance with the management of their Financial Conduct Authority (FCA) issued Section 166 remediation notice.

The Client

A U.K based broker dealer

The Challenge

Lysis Managed the FCA Section166 reporting to the Group COO. They worked with the firm’s board and senior management to shape each project and then produced a detailed programme plan which provided the delivery dates included in the response to the report.

The Solution

The project included programme governance, RAID, and tracking tools to ensure accurate and timely delivery, working with executive and senior management to initiate the programme and projects, to build the team required and to respond to initial regulator challenges on the programme and project set-up. Lysis also managed the entire global programme, spanning the Governance, Risk, Compliance, Operations, and IT functions, reporting to a board-level steering committee. Lysis took responsibility for programme management, planning, tracking, and reporting, including programme risks, issues, dependencies, and the budget.


Lysis assisted the client successfully with their S166 remediation requirements as per the FCA specifications and further proposed changes to the global governance structures, boards, committees, and legal entity governance which included:

o Senior management remuneration.

o The role and activities of the audit committee.

o Group policies, delegated authorities, and escalation arrangements.

o Board-level management Information.

o The role and effectiveness of NED’s.o Governance, structure, and operation of the compliance function.

o Global and regional compliance policies.

o Arrangements for transaction reporting and market abuse detection.

o Governance, structure, and operation of the risk management function.

o Risk management policies including ICAAP.

o The design and implementation of strategic planning arrangements.

Ready to chat about how we can help you?
Get in touch today!
Get in Touch
More Case Studies
Browse Case Studies
Consulting & Advisory
White labelling strategy and business case
Operations & Resourcing
Transaction Monitoring and KYC resourcing
Operations & Resourcing
Screening Managed Service

Offices across the globe.