The Financial Conduct Authority (FCA) and Payment Systems Regulator (PSR) have updated the make-up of several important committees including; the FCA’s Regulatory Decisions Committee (RDC) and Competition Decisions Committee and the PSR’s Enforcement Decisions Committee (EDC) and Competition Decisions Committee.
These four committees are make certain regulatory decisions on behalf of the FCA and PSR. They are set up by the FCA and PSR, with members drawn from across a spectrum of business, consumer and industry experience.
According to the FCA, Andrew Long and David Ashton, two of the longest serving members of the RDC will leave the committee when they have completed their respective terms of office. Andrew Long was Chair (formerly Acting Chair) of the RDC between 2012-2014. David Ashton has been an Acting Deputy Chair since January 2015.
The new appointments include:
- Chair – Tim Parkes will become Chair of the RDC and EDC in January 2016.
- Deputy Chair
- Elizabeth France has been appointed as a Deputy Chair of the RDC and EDC.
- John Hull will become a Deputy Chair of the RDC in January 2016.
- Committee Members
- Kevin Brown has been appointed as a member of the RDC and EDC.
- Chris Cummings has been appointed as a member of the RDC and EDC.
- Jonathan Haskel has been appointed as a member of the EDC and the FCA and PSR CDCs.
- Stuart McIntosh has been appointed as a member of the EDC and the FCA and PSR CDCs.
- Professor Robin Mason has been appointed as a member of the EDC and the FCA and PSR CDCs.
- Malcolm Nicholson has been appointed as a member of the EDC and the FCA and PSR CDCs.
- Caroline Ramsay has been appointed as a member of the RDC and EDC.
The FCA has a strategic objective of ensuring the relevant markets function well. To support this it has three operational objectives: to secure an appropriate degree of protection for consumers; to protect and enhance the integrity of the UK financial system; and to promote effective competition in the interests of consumers.