UK regulators step up use of 'shadow' 166s

The use of "shadow" or "quasi" section 166
investigations by UK regulators is on the rise, industry sources
have told The Insurance Insider.
Section 166s require a company to appoint a "skilled
person" to scrutinise its systems and controls at its own
expense.
However, the regulator also has the ability to use a slightly
less formal technique - dubbed a quasi or shadow 166 - whereby it
can "strongly" suggest that a firm appoint an external
company to revie