Regulatory Decisions Committee (RDC)

The RDC helps to ensure that contested enforcement decisions are made fairly. Find out more about the process and who sits on the committee.

The RDC is a committee of the FCA Board. It takes contested enforcement decisions on behalf of the FCA and operates separately from the rest of the organisation. 

The RDC isn't an appeal body, or a court of law, but is the final stage of decision-making within the FCA. When the RDC makes decisions, they are set out in a formal document known as a statutory notice

You can read about the formal procedures relating to the RDC in the Decision Procedure and Penalties Manual (DEPP) in the FCA Handbook. Statutory notices also contain information on relevant procedural and regulatory provisions

Making fair decisions

The separation of the RDC from the rest of the FCA ensures that enforcement decisions aren’t made by the FCA staff recommending action against a firm or individual. The RDC also has its own team of support staff and legal advisers.  

Generally, RDC cases are considered by a panel of three members, including the Chair or a Deputy Chair. However, if the decision is considered straightforward, the Chair or a Deputy can decide whether to issue a statutory notice.

Once a statutory notice has been issued, the RDC won’t discuss an ongoing case with the FCA staff who are recommending the action, unless a representative for the individual or firm is present or given an opportunity to respond. 

The firm or individual will usually be given access to the materials that the RDC is considering before a final decision is made. There are some circumstances where they won’t be entitled to see these, but this is rare.

The RDC will always consider any written or oral representations that firms or individuals may wish to make on the action proposed. The representations may not change the decision but, in many cases, the RDC panel has altered a decision as a result of representations. In some cases, it has decided to take no further action.

Statutory notices

The FCA is required to give statutory notices under the Financial Services and Markets Act (FSMA) when we take certain actions or make certain decisions. 

The statutory notices given by the RDC are usually warning notices and decision notices in relation to contested enforcement action. The RDC may occasionally deal with supervisory notices if they’re associated with enforcement action.

Find out more about the statutory notices issued by the RDC and what to do if you receive one.

Procedural Officers for Competition Act 1998 (CA98) cases

RDC members also act as Procedural Officers in CA98 cases, considering significant procedural complaints and chairing oral hearings at specific points in such investigations.

See our page on the CA98 Procedural Officer for further information.

Our members

The FCA Board appoints the RDC Chair, one or more Deputy Chairs and other members of the Committee. Members are drawn from business, consumer and financial services backgrounds.

The RDC Chair is an FCA employee.

Page updates

: Editorial amendment small amends, including adding 'or a court of law'
: Information changed Committee membership updated
: Information changed Committee membership updated
: Information changed Committee membership updated
: Information added Procedural Officers for Competition Act 1998 (CA98) cases
: Information added Biographies for new RDC members added.
: Information changed Committee membership updated
: Information changed Committee membership updated
: Information added Member information added and statutory notices information moved to a new page.

06/09/2019: Link changed Updated link to Financial Services Lawyers Association