RDC members

The Regulatory Decisions Committee (RDC) takes certain decisions as part of the FCA. Read the biographies of the RDC members.

Tim Parkes

Tim became Chair of the Regulatory Decisions Committee in January 2016. Before joining the RDC he was a partner at global law firm Herbert Smith Freehills LLP for more than 28 years, after serving 10 years as an associate and articled clerk.

As a commercial disputes solicitor in the areas of litigation, arbitration and alternative dispute resolution, he practised in both London and Hong Kong, dealing most recently with complex, high-value disputes arising out of the global financial crisis, often involving regulatory considerations. He was the firm's Executive Partner, Asia Managing Partner and latterly Head of Commercial Litigation in London. He was also a member of the firm's governing council for many years.

Tim worked as Legal Assessor to the London Stock Exchange's Quotations Committee and sat for a total of five years as an elected council member of the Law Society of Hong Kong. During his career he has taken a keen interest in legal pro bono work, which has included voluntary work in a Citizens Advice Bureau-linked legal advice centre. He is currently a trustee of the Army Museums Ogilby Trust.

Tim is also Chair of the Payment Systems Regulator’s Enforcement Decisions Committee.

Elizabeth France

Elizabeth joined the RDC as a Deputy Chair in July 2015.

Elizabeth is Chair of the Security Industry Authority, Chair of the Police Advisory Board for England and Wales, a member of the British Transport Police Authority, a member of the Ofgem Enforcement Decision Panel and Pro Chancellor at Aberystwyth University.

Until March 2014 Elizabeth was Chair of the Office for Legal Complaints. From 2002 to 2009 she was Chief Ombudsman and Chief Executive of The Ombudsman Services, which served the telecommunications ombudsman service (Otelo), the energy ombudsman service and the surveyors’ ombudsman service. She was a non-executive director of the Serious Organised Crime Agency from 2005 to 2010.

Elizabeth began her career in the Home Office, becoming the Data Protection Registrar in September 1994 and Information Commissioner in January 2001.

She has been awarded honorary doctorates by the Universities of De Montfort, Loughborough and Bradford and is a Fellow of Aberystwyth University. In June 2002 she was awarded a CBE for services to data protection.

Elizabeth is also Deputy Chair of the Payment Systems Regulator’s Enforcement Decisions Committee.

Peter Hinchliffe

Peter is a barrister with experience of financial services, consumer law and technology. He sits on a number of judicial and independent decision-making bodies.

He joined the RDC in 2012 and became a Deputy Chair in 2013. He was Acting Chair between October 2014 and December 2015.

Peter is a part-time tribunal judge, a member of the Determinations Panel at the Pensions Regulator and a member of the Case Management Committee at the Financial Reporting Council.

He is the Deputy Chairman of PhonepayPlus and an experienced non-executive director and charity trustee.

Peter was Lead Ombudsman for Insurance at the Financial Ombudsman Service until 2010 where, amongst other matters, he made the initial decisions that PPI had been mis-sold. He was a tribunal judge in the Consumer Credit Tribunal until 2014. He has spoken and written extensively on consumer issues. He previously held senior management positions in industry and the charity sector.

John Hull

John joined the RDC as a Deputy Chair in January 2016.

John has almost 20 years’ experience as a partner at two global law firms, including more than ten years as a partner with Latham & Watkins, where he served as Vice Chair of the Global Litigation Department, Chair of the London Litigation Department, led the firm’s London banking litigation practice and served on the firm’s Pro Bono Committee. John had been a practicing solicitor for more than 26 years when he retired from Latham & Watkins in December 2015.

John’s areas of expertise include litigation and dispute resolution in the areas of financial services, regulatory matters and professional negligence. He has been involved in some of the most complex and high-profile matters in the financial services sector, in a variety of jurisdictions.

John sits as a Deputy District Judge on the London circuit. He is a Centre for Effective Dispute Resolution-accredited mediator. John is also a member of the Consultation Board of PLC Dispute Resolution (part of Thomson Reuters).

Iraj Amiri

Iraj is a recognised expert in internal audit, risk management and corporate governance.

He joined the RDC in 2013. He was a partner with Deloitte for over 20 years, leading its national internal audit group and serving numerous clients in the financial, retail and public sectors. Iraj was Global Head of Internal Audit for Schroders Plc for more than ten years.

As a specialist in the financial sector he carried out numerous reviews of major financial institutions including banks, building societies and insurance companies. He served clients in the public sector including organisations in central government, health, education and local government, and other public bodies such as the Financial Services Compensation Scheme, the Pensions Regulator, National Savings and Investments and the European Investment Bank.

Iraj is a Fellow of the Institute of Chartered Accountants in England and Wales and a past Fellow of the Royal Statistical Society, and was a member of the Internal Audit Task Force of the Institute of Chartered Accountants in England and Wales for a number of years.

He is currently a trustee of National Employment Savings Trust and Chair of the Audit Committee at the Institute and Faculty of Actuaries. He is also a non-executive Board member and chair of the Audit Committee at Wales Finance a major specialist company providing loan equity and start up finance and support to SMEs in Wales and England.

Niki Beattie

Niki is a specialist in capital markets infrastructure.

She joined the RDC in 2012.

She is the founder and Chief Executive of Market Structure Partners, a consulting business which offers independent strategic advice on financial markets infrastructure and particularly the impact of changes in regulation and technology on market participants.

In addition to her consulting work, she is a non-executive director of Cheuvreux International Ltd an agency brokerage, IRESS Ltd, a listed financial technology company in Australia, and of Borsa Istanbul, The Turkish Stock Exchange. Niki is also a non-executive Chairman of two UK regulated companies: Aquis Exchange and XTX Markets Ltd. Additionally she sits on the Secondary Markets Advisory Committee of the European Securities Markets Authority. Niki previously spent 16 years in various roles on the trading floor at Merrill Lynch International and ultimately became Managing Director and Head of European, Middle East and Africa Market Structure. Throughout her career, Niki has been instrumental in creating competition and change in the European listed markets trading and clearing environment.

Kevin Brown

Kevin joined the RDC in July 2015.

He has over 35 years of experience in payment systems, cards, treasury, transaction banking and fund management gained in UK and international financial services. He sits as a non-executive or independent member on a number of bodies.

Kevin is currently a non-executive Board member at Phone-paid Services Authority, non-executive Chairman of FundRock Management SA, non-executive Director of Form³ Financial Cloud and Senior Advisor, Global Payments at KPMG. He was also on the inaugural advisory panel for the UK Payment Systems Regulator until mid-2015.

Kevin is a Fellow of the Chartered Institute of Bankers and was with RBS for 35 years, where he was Global Head of Transaction Services until April 2014. He has a strong external profile as an industry expert and speaker on global transaction banking, payments and treasury/funds business and regulatory issues. He has represented RBS and the UK on a number of external bodies. He had direct involvement in the design and development of the UK’s Faster Payments service and became the inaugural Chairman of the UK Faster Payments Scheme in November 2011, a position that he held until 2013.

Kevin is also a member of the Payment Systems Regulator’s Enforcement Decisions Committee.

John Callender

John has long experience as a senior commercial banker. He joined the RDC in 2013.

John is non-executive Chair of ANZ Bank Europe Ltd, senior non-executive director at Ford Credit Europe Plc and Chair of the Board Risk Committee. He also holds a non-executive director position at Motability Operations Plc and is a member of the Audit Committee. He retired from the Board of Aldermore Bank Plc, where he had been interim Chair and Chair of the Board Risk Committee, in April 2015.

Previously he was a senior executive in Barclays Plc, with considerable experience of operating in Europe, India and the USA running a number of businesses including the asset, leasing, invoice finance and contract hire operations.

He served on the Board of the Finance and Leasing Trade Association for six years and was elected Chair for 1996 to 1997. John also served as a Governor of Reading Blue Coat School in Sonning, Berkshire for 10 years, retiring in 2014.

Peter Craddock

Peter holds a senior executive position with St. James’s Place Wealth Management Plc, and was formerly Group Operations Director at Perspective Financial Group.

He joined the RDC in 2013.

Peter was formerly a Board member of the Association of Professional Financial Advisers (APFA), and is a Chartered Insurer and a Chartered Director.

He was formerly Director of Financial Services at Skipton Building Society and previously held a number of senior roles at Commercial Union, and CGU.

Chris Cummings

Chris joined the RDC in July 2015.

Chris is CEO of the Investment Association, the trade body that represents UK investment managers. He was the founding Chief Executive of financial and professional services membership body TheCityUK from September 2010 until September 2016. He has led and launched two trade associations in the financial advice sector and written two books on financial services regulation.

Chris has also held senior posts in banking, insurance and in consulting, where he advised major global firms and public sector bodies. Chris is a member of the Foreign and Commonwealth Office’s Diplomatic Excellence Panel and has advised the Treasury on regulatory matters. He is a member of Cass Business School’s Strategy Board and holds a Visiting Professorship from the University of South Wales.

Chris is also a Fellow of the Chartered Institute of Marketing, a columnist, commentator and speaker on issues of international policy and regulation in financial and related professional services.

Chris is also a member of the Payment Systems Regulator’s Enforcement Decisions Committee.

Karen Johnston

Karen joined the RDC in March 2017.

Karen is a lawyer with over 20 years’ experience gained across public, private and voluntary sectors. She has a specialist interest in consumer services and consumer protection.

At the independent bar Karen’s practice included mortgage, consumer credit, debt and white collar crime. In 2000 she joined the Office of Fair Trading, where she advised on credit licensing, unfair terms in consumer contracts, distance selling, cross border enforcement and scam avoidance cases. She helped develop the OFT’s industry codes regime and supported local trading standards officers in their work to protect consumers.

Karen has also worked extensively on the implementation of EU legal standards into UK consumer and pension law, and has provided specialist expertise to policy makers at DTI, DWP and Treasury. She joined the Pensions Regulator in 2005, where she worked initially on the establishment of a cross border authorisation regime for pensions. She then worked closely with DWP policy makers to develop the regime which established NEST and auto-enrolment. From there she moved into a business facing implementation role, leading the development of the Regulator’s employer compliance and enforcement strategy. Latterly she became its lead adviser on strategic legal risk.

Karen is currently the Deputy Pensions Ombudsman and Vice-Chair of Brighton and Hove Citizens Advice Bureau, the lead agency in a city-wide debt advice partnership.

Nick Lord

Nick joined the RDC in February 2017.

Nick has over thirty years’ experience representing the consumer interest in financial services, with particular reference to the regulation of consumer credit and mortgage credit. Much of his work has been with the Third Sector, Government departments and trade bodies, where he has worked both in consumer-facing advice roles and formulation of policy. This gives him a particularly pertinent view of day-to-day consumer issues.

Nick maintains a range of positions with firms, trade bodies and regulators. Past positions include director of the Mortgage Code Compliance Board, adviser to the HMT review that led to the establishment of the Money Advice Service, and member of the Financial Services Consumer Panel. Current positions include trustee of a debt advice charity, non-executive director of a large short-term credit lender and chairman of the governance board of Lenderscompared.  He continues to advise individual consumers and groups on an on-going basis.

Nick holds the Diploma in Financial Planning.

Stuart McIntosh

Stuart joined the RDC in October 2016.

He is an economist with extensive experience in regulation and competition economics. He was previously an executive member of the board of Ofcom, the UK communications regulator. He had executive responsibility for Ofcom’s work on the economic regulation of the sectors overseen by Ofcom, encompassing both regulatory policy and enforcement. He was also responsible for the conduct of Competition Act investigations undertaken by Ofcom employing its powers as a concurrent regulator (with the Competition and Markets Authority).

Stuart was previously a partner with Coopers & Lybrand/PwC, where he led the firm’s telecommunications strategy consulting practice. He also held senior positions with IBM and BT. Stuart is currently a senior adviser to KPMG’s telecommunications practice, a member of Ofgem’s Enforcement Decisions Panel and a member of the ManSat Advisory Board.

Stuart is also a member of the FCA’s Competition Decisions Committee and the Payment Systems Regulator’s Enforcement Decisions Committee and Competition Decisions Committee.

Robin Mason

Robin joined the RDC in August 2016.

He is a Professor of Economics with extensive experience in competition and regulation. He is Pro-Vice-Chancellor (International) at the University of Birmingham. Prior to that, he was Pro-Vice-Chancellor and Executive Dean of the Business School at the University of Exeter, and Professor of Economics. His area of academic expertise is industrial organization in general, and in particular the economics of regulation and competition. He is a fellow of the Centre for Economic Policy Research, and a companion of the Chartered Management Institute.

Robin has been a member of the UK’s Competition and Markets Authority (formerly the Competition Commission) since 2009, and sits on the CMA’s specialist Communications Act panel, as well as its cost of capital advisory group. He has worked with several of the utility regulators in the UK, including Ofgem (on cost of capital, as part of their review of price controls) and Ofcom (where he served as a member of the panel of economic advisers). He has also advised the Prime Minister of Mauritius on competition legislation, and provided expert advice for ComReg, the Irish communications regulator. He has acted as an economic consultant and expert witness for a number of private sector clients.

Robin is also a member of the FCA’s Competition Decisions Committee and the Payment Systems Regulator’s Enforcement Decisions Committee and Competition Decisions Committee.

Philip Marsden

Philip joined the RDC in August 2016.

Philip is a competition lawyer with over 30 years’ experience in advising corporates and governments, particularly on fast-moving consumer markets and agency decision-making. Since 2014 he has been an Inquiry Chair at the UK Competition and Markets Authority, deciding on Phase 2 Merger cases and Market Investigation References, and chairing Case Decision Groups in antitrust cases.

Philip is Professor of Law and Economics at the College of Europe, Bruges, teaching the core LL.M. competition course and is co-founder and General Editor of the European Competition Journal, and the Oxford University Press Competition Law case reporter series. He is also a Board member of the Channel Islands Competition and Regulatory Authorities. Philip’s past career includes serving on the Board of the Office of Fair Trading; chairing the British Institute’s Competition Law Forum, and working in private practice in London, Toronto and Tokyo, and as a competition official.

Philip is also a member of the FCA’s Competition Decisions Committee and the Payment Systems Regulator’s Enforcement Decisions Committee and Competition Decisions Committee.

Dame Elizabeth Neville

Dame Elizabeth was a police officer for 30 years and was chief constable of Wiltshire Police.

She joined the RDC in 2013.

Since her retirement from the police service 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 Code Adjudication Panel for the Phone-Paid Services Authority, 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 the board of The Insolvency Service.

Malcolm Nicholson

Malcolm joined the RDC in August 2016.

He was a partner at Slaughter and May specialising in competition matters for over 25 years until his retirement in 2009. Since 2009 he has been a Panel member of the Competition and Markets Authority (formerly the Competition Commission). He was a non-executive director of the Cambridge University Hospitals NHS Trust from 2010 to 2012, and a director of the Solicitors Regulation Authority from 2009 to 2013. Since 2012 he has been a member of the Conduct Committee and Chair of the Case Management Committee of the Financial Reporting Council.

Malcolm is also a member of the FCA’s Competition Decisions Committee and the Payment Systems Regulator’s Enforcement Decisions Committee and Competition Decisions Committee.

Caroline Ramsay

Caroline joined the RDC in July 2015.

She is a chartered accountant with 20 years’ experience in insurance and investment management gained during her executive career in finance and audit.

Caroline has previously been UK Chief Financial Officer for RSA. Prior to this she held a number of senior finance roles at Aviva after spending the first 12 years of her career at KPMG, where she qualified as a chartered accountant in 1984. In June 2015 Caroline retired from her role as Group Chief Internal Auditor at RSA Group to develop her non-executive portfolio. Caroline is the non-executive Audit Committee Chair at pensions provider Aegon UK, and a non-executive Director of general insurer Tesco Underwriting Limited and investment company Standard Life UK Smaller Companies Trust plc.

Caroline is also a member of the Payment Systems Regulator’s Enforcement Decisions Committee.

Pauline Wallace

Pauline is a former senior partner at PwC. Pauline was, for her last four years, head of public policy and regulatory affairs, advising the board on public policy issues.

She joined the RDC in 2013.        

Pauline is a qualified chartered accountant and has held senior positions in both the UK and Hong Kong. Prior to becoming head of public policy at PwC she set up and led its global financial instruments team for seven years.

Pauline is a member of the ICAEW Regulatory Board, a director of Paradigm Trust and a primary-school governor.