Enforcement Decision Making Committee

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, Honorary Senior Fellow of the British Institute of International and Comparative Law, and 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 and chair of the Equality and Human Rights Commission. 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 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. She chairs Market Operator Services Limited (MOSL) - the market operator for the non-household water sector - and currently holds positions at the Office of Road and Rail, the General Dental Council and Elexon. She is a member of the Regulatory Decisions Committee at the Financial Conduct Authority (FCA). She previously chaired Thames Water's Customer Challenge Group. Until March 2018, she was a board member of 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, mainly in strategy and regulation. She chairs Volunteering Matters, was previously interim Chair of the National Council for Voluntary Organisations, and is a trustee of 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, Pay.UK, and the Jersey Financial Services Commission. He is a member of PwC's Advisory Council. He also chairs the Financial Services Skills Commission.

Philip Marsden (Deputy Chair)

Philip is Professor of Law and Economics at the College of Europe, Bruges, and a case decision-maker at the Financial Conduct Authority (FCA) Regulatory Decisions Committee, the Payment Systems Regulator, and OFGEM. In 2018, the Chancellor appointed Philip to the Treasury’s Digital Competition Experts Panel, writing the ‘Furman Review: Unlocking Digital Competition’. In 2019, he was appointed to the government’s Open Finance Advisory Group, advising the FCA on how to extend Open Banking to other regulated sectors. In 2020, Philip was appointed Chair of the charity, Lyra in Africa, which provides safe hostels and education to young women. He is also an Independent Non-Executive Director of three organisations: the Guernsey Competition and Regulatory Authority; Cloud Africa, a financial services firm focusing on remittances for the African diaspora; and MOSL. He is Counsel to IMAGINE, which facilitates collaborative sustainability initiatives among large businesses and he also advises governments on agency effectiveness and ‘best practices’ for the World Bank. His past roles include: Member of the Board of the Office of Fair Trading, then Inquiry Chair at the Competition and Markets Authority, where he decided on Phase II mergers, market investigations and antitrust cases. Earlier, he worked at law firms in Toronto, Tokyo and London, at the Canadian Competition Bureau and was Senior Research Fellow at the British Institute of International and Comparative Law.

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. He holds posts in a number of charitable organisations.

This page was last updated 23 June 2022

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