Reference Case Number: FOI10168
Freedom of Information: Right to know request:
Under the Freedom of Information Act, I would like to request the following information: how many Section 166s (skilled person reviews) have been issued over the last three years and what was their combined total cost?
I would like this information broken down by quarter, between the 1st April 2020 - 31st March 2023.
FCA response:
We can confirm that we hold some of the requested information, the table below lists the quarterly breakdown of Section 166 reviews for the financial years 20/21, 21/22, and 22/23.
Time period | Number of s166 reviews commissioned |
|---|---|
20/21 Q1 | 12 |
20/21 Q2 | 14 |
20/21 Q3 | 19 |
20/21 Q4 | 18 |
21/22 Q1 | 9 |
21/22 Q2 | 9 |
21/22 Q3 | 12 |
21/22 Q4 | 11 |
22/23 Q1 | 9 |
22/23 Q2 | 11 |
22/23 Q3 | 10 |
22/23 Q4 | 14 |
We do not hold information specifying the combined costs incurred by regulated firms broken down by quarter. However, overall annual combined costs incurred by regulated firms for s166 work undertaken are published in FCA Annual Reports.
The relevant Annual Reports state the following;
| Financial Year | Aggregate cost incurred by regulated firms for s166 work undertaken |
|---|---|
| 2020/21 | £39.4m |
| 2021/22 | £37.7m |
Relevant information pertaining to the financial year 2022/23 is scheduled for future publication in the 2022/23 FCA Annual Report. We anticipate this will be published in July 2023. Therefore, under section 22 (information intended for future publication) we are exempt from the duty to provide it to you in advance. For more information on why we are applying this exemption please see Annex A.
Further to the above, the following FCA Annual Reports may be of interest;
FCA 2021/22 Number of skilled person reports commissioned[1]
FCA 2020/21 Number of skilled person reports commissioned[2]
FCA 2019/20 Number of skilled person reports commissioned [3]