Strengthening the FCA’s 2nd Line - Assurance Letter - Oliver Wyman

Published: 21/10/2015   Last Modified : 21/10/2015

In January 2015 the FCA Strengthened its control framework by creating the Risk and Compliance Oversight Division. This will be the key second line of defence working with regulatory divisions and internal audit. Subsequently we commissioned Oliver Wyman to consider the role of this Division and the risk framework. This work is now complete and Oliver Wyman's letter sets out recommendations for enhancement.