The Regulatory Decisions Committee (RDC) is responsible for taking decisions on whether to refuse or grant contested applications into the regulated community, and issuing warning and decision notices for certain enforcement cases on behalf of the FCA.
The RDC is set up by the FCA, with members drawn from across a spectrum of business, consumer and industry experience. The FCA Board has recently appointed three new members to the RDC:
- Dame Elizabeth Neville was a police officer for 30 years and was chief constable of Wiltshire Police. Since her retirement in 2004, Dame Elizabeth has held a number of public positions, including: independent complaints assessor for the Department for Transport; non-executive director at the Serious Fraud Office; and a member of the Police Appeals Tribunal. Currently, she is a lay member of the Independent Appeals Body for Phonepay-Plus; a member of the Determinations Panel for The Pensions Regulator; and an independent adjudicator at Companies House. She is also a non-executive member of board of The Insolvency Service.
- Pauline Wallace, a former senior partner at PwC. Wallace was, for the last four years, head of public policy and regulatory affairs advising the board on public policy issues. Wallace is a qualified chartered accountant and has held senior positions in both the UK and Hong Kong. In 2002 she set up the global financial instruments team at PwC and retained responsibility for it until she took on the role as head of regulatory affairs.
- Peter Craddock up to December 2013 was Group Operations Director at Perspective Financial Group Limited, a £23m turnover national finance advisory group. He now operates as an independent consultant via his own business Craddock is also a director of The Association of Professional Financial Advisers (APFA), an associate of the Chartered Insurance Institute and a Chartered Director. Craddock was formerly director of financial services at Skipton Building Society and previously held a number of senior roles at Commercial Union.
Read more about the work of the RDC[1], along with the biographies of the Committee’s members.