Compliance Consultant – Section 166

An established Consumer Credit firm reached out to Kind for support to help them work with the regulator following a Section 166 notice being issued.  This involved providing them with one of our experienced compliance consultants, to work with the senior management team on the appointment of a Skilled Person.

In addition to our consultant, we provided a number of interim experienced compliance, collections and credit risk resources to support the project and wider business.  As a result of this we have completed a successful remediation project required by the Financial Conduct Authority due to a section 166 being served.

The remediation required an assessment of more than 4,000 customers over a period of 5 years. We achieved the confidence of the FCA and a successful remediation project through detailed remediation methodology documentation, accurate and timely reporting, the demonstration of structured planning, and effective 3 lines of defence activity.

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