Enforcement Decision Making Committee

The Bank of England’s Enforcement Decision Making Committee decides on contested enforcement cases.

Our Enforcement Decision Making Committee (EDMC) decides on contested enforcement cases. These are enforcement cases where we have not settled with the relevant subject(s) after our initial investigation. 

The committee acts within the following statutory regimes, which we operate: 

  • prudential regulation
  • financial market infrastructure
  • resolution

It will also act in Scottish and Northern Ireland banknote regime enforcement cases.

The committee is accountable to our Court of Directors. It provides an annual report to our Court, which is also shared with the Prudential Regulation Committee.

Why we set up this committee 

We set up this committee to strengthen our enforcement processes by ensuring a functional separation between our investigation team and our decision makers in contested enforcement cases. Its members are wholly independent of the Bank of England’s executive.

How the committee works 

A panel of at least three committee members hear each contested enforcement case. In addition to hearing specific cases, the committee also meets as a whole committee to discuss matters of broader interest. 

Find out more about how this committee works in Procedures – Enforcement Decision Making Committee

Committee members 

Sir William Blair (Chair)

Sir William is Professor of Financial Law and Ethics at Queen Mary University of London’s Centre for Commercial Law Studies, and an Associate Member of Chambers at 3 Verulam Buildings, London. He was the first President of the Board of Appeal of the European Supervisory Authorities and is a former High Court Judge, as Judge in Charge of the Commercial Court, before retiring from the judiciary in November 2017. Among other appointments, he is chair of the Qatar Financial Centre Regulatory Tribunal. He also chairs the Law and Ethics in Finance Project, a group concerned with raising standards in the financial sector.

Baroness Kishwer Falkner

Baroness Falkner is a Member of the House of Lords. From 2015-2019, she chaired the EU Sub-Committee on Financial Affairs and was a member of the House of Lords EU Select Committee. She has also served on the Constitution Committee, the Joint Committee on Human Rights, and several EU committees. In addition, Baroness Falkner holds a number of academic and board level positions, including at the London School of Economics, the Munk School of Global Affairs, University of Toronto, and The Policy Institute, King’s College London.

Anne Heal

Anne Heal is an experienced non-executive director who currently holds positions at the Office of Road and Rail, the General Dental Council, Elexon and Market Operator Services Limited (MOSL). She previously chaired Thames Water's Customer Challenge Group. She is a member of the Regulatory Decisions Committee at the Financial Conduct Authority (FCA). Until March 2018, she was a board member at Ofqual where she was the first chair of its enforcement committee, helping shape its processes. Before this, she spent more than 20 years in the telecoms sector at BT and Openreach. She chairs the National Council for Voluntary Organisations and Volunteering Matters and is a trustee of the Charities Aid Foundation (CAF) and a number of other charities. 

Mark Hoban

Mark Hoban was a Member of Parliament from 2001 until 2015 and held ministerial positions as Financial Secretary to the Treasury and Minister of State for Employment. He currently chairs Flood Re which is a business owned and financed by the insurance industry to improve the accessibility and affordability of flood protection, the Financial Services Skills Commission and the Jersey Financial Services Commission. He is also a non-executive director of the London Stock Exchange plc and Borsa Italiana, and is a member of PwC's Advisory Council. Until June 2020, Mr Hoban sat on the Board of The City UK, chairing its International Regulatory Strategy Group.

Philip Marsden (Deputy Chair)

Philip Marsden is a Senior Director at the Competition & Markets Authority (CMA) and chairs the CMA’s Case Decision Group for antitrust matters. He has served as chair or deputy chair of various CMA inquiries, including the Retail Banking Market Investigation. He is also a non-executive director of the Guernsey Competition and Regulatory Authority. He is a member of various enforcement decision-making committees at the FCA, including the FCA’s Regulatory Decisions Committee, and the Payment Systems Regulator. He is Professor of Law and Economics at the College of Europe and the founding editor of the European Competition Journal.

Edward Sparrow

Edward Sparrow is a Senior Consultant, and formerly a partner, at City law firm Ashurst LLP. He worked there for over 35 years, advising banks, large corporations, institutions and their senior executives, both on litigation and on regulatory investigations and enforcement proceedings. He is Chair of the City of London Law Society, as well as a member of the Ministry of Justice’s International Law Committee.

This page was last updated 21 August 2020

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