On our SharePoint server, we were seeing:

Event ID: 10016
Source: DistributedCOM
The application-specific permission settings do not grant Local Activation permission for the COM Server application with CLSID {61738644-F196-11D0-9953-00C04FD919C1} to the user DOMAIN\ACCOUNT SID (S-1-5-21-2460336825-3585246265-3150112067-129010) from address LocalHost (Using LRPC). This security permission can be modified using the Component Services administrative tool.

To find out what [61738644-F196-11D0-9953-00C04FD919C1} relates to, I go to Start > run and "regedit" then search for that GUID. In our case it was the "IIS WAMREG admin Service". We can now open this Component Services (using Start > Control Panel > Administrative Tools > Component Services) and browse to Component Services > Computers > My Computer > DCOM Config and then right-click on "IIS WAMREG admin Service" and select properties. Then go to the Security tab, and click "Edit ..." under "Launch and Activation Permissions" and add the account mentioned in the error and tick "Local Launch" and "Local Activation".