View more on these topics

Ex-Aifa director general joins FCA committee

FCA interior 620x430

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.”



Steve Webb: Small pots problem is not the priority

Pot follows member architect and former pensions minister Steve Webb says the delay to pensions’ automatic transfer system is “not outrageous”. Last week, Money Marketing revealed the Department for Work and Pensions could scrap the controversial plans as part of a delay that is set to see a solution shelved until 2018. The Government had […]


Govt to review pension transfer rules for ARs

The Government and FCA are to review rules that suggest appointed representatives are barred from working on transfers of safeguarded benefits. In March the regulator announced it was introducing tighter standards on pension transfers, creating a new term – safeguarded benefits – to include transfers from defined benefit schemes and plans with guaranteed annuity rates. […]


Guardian hires ex-Old Mutual finance chief as Phoenix circles

Old Mutual’s former finance director Philip Broadley is to become the new chief executive of Guardian Financial Services, according to reports. Sky News reports Broadley will become Guardian’s chief executive as the closed book life insurer deals with a series of takeover approaches from rivals including Phoenix Group. A statement confirming his appointment is expected […]


L&G staff vote for strike action over Kingswood closure

Staff at Legal & General’s doomed Kingswood office have voted to go on strike following discussions between Unite the union and staff. The union opened a consultative ballot for industrial action, which closed yesterday. There was a 68 per cent turnout for the ballot with 63 per cent of the total membership voting for action. […]


News and expert analysis straight to your inbox

Sign up


There are 2 comments at the moment, we would love to hear your opinion too.

  1. Sometimes….. you know… when you just read an article, and you cant help but just shake your head from side to side ?

    No ! not the appointment per say, but the number of “decision making” committee’s ? and then JGJ’s comment at the end !

    There must be a word or two ? that sums all this up…….

  2. Personally I welcome Chris’s appointment. At last someone who knows which way is up. I think advisers now have an ally on an influential committee.

Leave a comment


Why register with Money Marketing ?

Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

News & analysis delivered directly to your inbox
Register today to receive our range of news alerts including daily and weekly briefings

Money Marketing Events
Be the first to hear about our industry leading conferences, awards, roundtables and more.

Research and insight
Take part in and see the results of Money Marketing's flagship investigations into industry trends.

Have your say
Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

Register now

Having problems?

Contact us on +44 (0)20 7292 3712

Lines are open Monday to Friday 9:00am -5.00pm