Committees

Our Board has several committees to which it delegates certain responsibilities. Find out more about the role and membership of each committee.

Audit Committee

The Audit Committee is responsible for reviewing and providing assurance to the FCA Board on matters including:

  • the integrity of the FCA’s financial statements, including its annual report, and any other public statements relating to financial performance
  • the effectiveness of the FCA’s internal financial controls, other internal controls and risk management systems
  • the adequacy, effectiveness and security of the internal whistleblowing arrangements
  • fraud detection
  • systems and controls for the prevention of bribery and corruption
  • anti-money laundering systems and controls
  • internal compliance policies and standards
  • the internal audit function
  • the relationship with the National Audit Office (external auditor), including the effectiveness of the external audit process and co-ordination of the external auditor with Internal Audit
  • the effectiveness of the investigation of complaints against the FCA and PSR
  • review of the Chair’s expenses
  • potential implications of legal action

Membership:

  • Liam Coleman (Chair)
  • Bernadette Conroy 
  • Simon Ricketts

People Committee

Membership:

  • Alice Maynard (Chair)
  • Liam Coleman 
  • Bernadette Conroy
  • Jeannette Lichner
  • Richard Lloyd

Terms of Reference for this committee will be added to Corporate Governance of the FCA (PDF) soon.

Policy and Rules Committee

Membership:

  • Richard Lloyd (Chair)
  • Bernadette Conroy
  • Nikhil Rathi
  • Sam Woods
  • Tommaso Valletti

Terms of Reference for this committee will be added to Corporate Governance of the FCA (PDF) soon.

Risk Committee

The Risk Committee is responsible for:

  • supporting the Board in meeting its responsibilities for an effective system of risk management and appropriate assurance of the adequacy and effectiveness of the FCA’s system of regulation (including policy, authorisation, supervision, enforcement, competition and associated support function activities)
  •  ensuring that the FCA achieves its statutory and operational objectives and Mission, including the effectiveness of the mitigation of harm and the safety and soundness of its own operations
  • oversight of the Regulatory Decisions Committee on behalf of the Board.

Membership:

  • Bernadette Conroy (Chair)
  • Liam Coleman 
  • Jeannette Lichner 
  • Alice Maynard 

Regulatory Decisions Committee

The Regulatory Decisions Committee (RDC) exercises certain regulatory powers in relation to the giving of warning notices and decision notices on behalf of the FCA, as described in the FCA Handbook.

Find out how the RDC works and who sits on the committee.

Oversight Committee

The Oversight Committee is responsible for providing support and advice to the Board on its relationship with the Financial Ombudsman Service and Financial Services Compensation Scheme. The Committee can extend its scope to carry out other assignments as specifically mandated by the Board.

Membership:

  • Jeannette Lichner (Chair)
  • Richard Lloyd OBE 
  • Sheldon Mills

Read about how the Oversight Committee works.

Page updates

20/07/2022: Editorial amendment Updates to page features for website refresh.
04/07/2022: Information changed Added new Policy and Rules Committee and People Committee.
07/01/2022: Information changed Update to the membership list for Audit Committee and Risk Committee
23/11/2021: Link added Anchor links updated