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.

Committee members 

Sir William Blair (EDMC 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 Honorary Chair of the Monetary Law Committee of the International Law Association.

Baroness Kishwer Falkner

Baroness Falkner is a Cross Bench member of the House of Lords and has been Chair of the Equality and Human Rights Commission since December 2020. From 2015-10-29, she Chaired the EU Sub-Committee on Financial Affairs and was a Member of the House of Lords EU Select Committee. She has previously served on the Constitution Committee and the Joint Committee on Human Rights, among others. She is a member of the Board of the Anglo-German conference, Konigswinter. Her advisory academic roles involve 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 FCA. She previously Chaired Thames Water’s Customer Challenge Group. 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, mainly in strategy and regulation. She Chairs Volunteering Matters, she 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 Pay.UK and the Financial Services Skills Commission, which is a pro bono role. He is a member of PwC’s Advisory Council and was previously Chair of Flood Re and the Jersey Financial Services Commission.

Philip Marsden (EDMC Deputy Chair)

Philip Marsden 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 and the Payment Systems Regulator. 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. 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 was a Senior Consultant, and formerly 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 a Deputy Chair of the Regulatory Decisions Committee of the Financial Conduct Authority and of the Enforcement Decisions Committee of the Payment Systems Regulator. He holds posts in a number of charitable organisations.

This page was last updated 28 March 2024