Ex-Aifa director general joins FCA committee

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Former Aifa director general Chris Cummings is among a number of appointments to the FCA’s decision-making committees.

The FCA has a regulatory decisions committee and a competition decisions committee, while the Payment Systems Regulator has an enforcement decisions committee and a competition decisions committee.

These four committees are responsible for taking certain regulatory decisions on behalf of the FCA and PSR.

The FCA and PSR have announced that Tim Parkes will become chairman of the regulatory decisions committee and enforcement decisions committee in January 2016.

Parkes has been a partner at law firm Herbert Smith Freehills for 28 years. HSF has represented the Financial Services Compensation Scheme in its legal battle with advisers over Keydata compensation.

Cummings, who is currently chief executive of TheCityUK, has been appointed as a member of the same two committees.

Other committee member appointments include Imperial College Business School professor of economics Jonathan Haskel and former Slaughter and May partner Malcolm Nicholson.

Former Office for Legal Complaints chair Elizabeth France has been appointed as a deputy chair of the regulatory decisions committee and the enforcement decisions committee.

John Hull, a former partner at law firm Latham & Watkins, will become a deputy chair of the regulatory decisions committee in January 2016.

Andrew Long and David Ashton, two of the longest serving members of the regulatory decisions committee, will leave the committee when they have completed their terms of office. Ashton has been an acting deputy chair of the committee since January.

FCA and PSR chairman John Griffith-Jones says: “These committees play an extremely important role and I am delighted we have been able to attract members of such experience and quality.

“Their expertise will be central to helping both the FCA and PSR achieve their respective objectives and raising standards.

“I would also like to thank Andrew and David for the invaluable contribution they have given to the regulatory decisions committee over recent years.”