Decision Making

Decision making committees

Enforcing regulatory and competition law

We may take enforcement action for failure to comply with directions given or requirements imposed under FSBRA or failures to comply with the provisions of other legislation such as the IFR or PSD2. We may also take enforcement action for failure to comply with the Competition Act 1998 and Articles 101/102 of the Treaty on the Functioning of the European Union.

Certain decisions relating to these enforcement actions may need to be taken by the Enforcement Decisions Committee or the Competition Decisions Committee.

On this page, we:
  • Document our enforcement decisions

  • Explain the purpose of the Enforcement Decisions Committee and the Competition Decisions Committee and how they work 

  • Provide further information about their membership

Enforcement decisions

The Enforcement Decisions Committee

The Enforcement Decisions Committee, or EDC, is a committee of the Board. Its purpose is to take regulatory enforcement decisions for the PSR when a settlement cannot be reached.

The EDC currently has a pool of eleven members, including the Chair and a Deputy Chair, from which three-person panels can be drawn to consider cases.

Members of the EDC may be called upon to act as Settlement Decision Makers in enforcement cases. In the event that settlement is not reached, any EDC member who has acted as a Settlement Decision Maker is then be precluded from membership of the EDC panel considering the case.

Referral to the EDC

From time to time, when standards fall below what we expect, we may take enforcement action against a payment systems participant that has failed to comply with relevant legal requirements.

Where we have found that there is a compliance failure, and we consider that it should be sanctioned, but settlement (if appropriate in the circumstances of the particular case) cannot be reached, we will make a referral to the EDC. The EDC will determine whether to issue a warning notice in relation to the compliance failure and the appropriate sanction to be imposed.  The payment systems participant has the opportunity to make representations to the EDC about the warning notice and proposed sanction.

Having considered any representations, the EDC will determine whether to  issue a decision notice, in which it will set out its decision in relation to the compliance failure and appropriate sanction. The sanction may be to publish details of the compliance failure and/or impose a financial penalty.

While it is a committee of the Board, the EDC is separate from staff at the PSR who have investigated whether a compliance failure has occurred.

The Competition Decisions Committee

The purpose of the Competition Decisions Committee, or CDC, is linked to the competition powers we have under the Competition Act 1998 (CA98) and under Articles 101/102 of the Treaty on the Functioning of the European Union (TFEU).

The CDC currently has seven members from which three-person panels can be drawn. 

How the CDC works

If we think that the behaviour of one or more parties in payment systems amounts to a breach of the CA98 (or the corresponding EU law provisions), we will issue a Statement of Objections.

Once a Statement of Objections has been issued, the CDC will consider whether or not the party or parties have breached the CA98. The party or parties who are addressees of any Statement of Objections will have an opportunity to make representations to the CDC.

If, having considered the addressees’ representations on the Statement of Objections, the CDC is minded to reach an infringement decision and impose a penalty, we will provide the parties with a draft penalty statement.

The CDC will have the final say whether an infringement decision is adopted, and whether any financial penalty and/or any directions are imposed on the party or parties concerned.

So, in summary, the CDC is a group of experts appointed to act as the decision-maker on whether, based on the facts and evidence before it, the legal test for establishing an infringement of competition law has been met and, where appropriate, on the level of the financial penalty to be imposed.

Like the EDC, the CDC is a committee of our Board, and its members will not have been involved in the investigation or in the decision to issue a Statement of Objections.

Membership of the EDC and CDC

The biographies of the current members of the EDC and CDC are shown below.

Tim Parkes - Chair and EDC member

Tim Parkes is Chair of the RDC and EDC. He has been 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 has 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 CAB-linked legal advice centre. He is currently a trustee of the Army Museums Ogilby Trust.

Elizabeth France - Deputy Chair and EDC member

Elizabeth France 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 a member of the General Assembly of Manchester University.

Until 31 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 Service Ltd, which provided 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 2005-2010. Elizabeth began her career in the Home Office, became 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 has been appointed as a Deputy Chair of the RDC and EDC.

Kevin Brown - EDC member

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 and the Chair of Audit, Risk & Governance Committee at Phone-paid Services Authority, non-executive Chairman of FundRock Management SA, Chair of the Advisory Committee of Form³ Financial Cloud and is an independent Board member and Chair of the Strategic Advisory Forum on the RGTS/CHAPS Board at the Bank of England. 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.


Professor Philip Marsden - EDC and CDC member

Philip Marsden joined the EDC & CDC in February 2016.

He 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 and a member of the Legal Services Consumer Panel. 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 CDC and RDC.

Malcolm Nicholson - EDC and CDC member

Malcolm Nicholson 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 NHC 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 has been appointed as a member of the EDC and the FCA and PSR CDCs

Professor Robin Mason - EDC and CDC member

Professor Robin Mason is an academic economist with extensive experience in competition and regulation. He is Pro Vice Chancellor at the University of Exeter, and Executive Dean of the Business School and Professor of Economics. Previously he was Eric Roll Professor of Economics and Head of Economics at the University of Southampton. His area of academic expertise is industrial organization in general, and in particular the economics of regulation and competition.

He is a Council member of the Chartered Association of Business Schools, a fellow of the Centre for Economic Policy Research, and a companion of the Chartered Management Institute.

He 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 also serves as a Governor of the Maynard School in Exeter, Devon. Robin has been appointed as a member of the EDC and the FCA and PSR CDCs.

Caroline Ramsay - EDC member

Caroline Ramsay 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 and prior to that held a number of senior finance roles within 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, RSA Group, to develop her Non Executive portfolio. Caroline is the Non-Executive Audit Committee Chair at Aegon UK, a leading UK pensions provider. Caroline has been appointed as a member of the RDC and EDC.

Lesley Ainsworth - EDC and CDC member

Lesley is also a Panel Member of the Competition and Markets Authority (CMA), a role she has held since July 2013. During her time at the CMA she has served on the panels for the energy and investment consultants market investigations. Lesley has over 30 years of experience working in the legal sector, including as a competition lawyer and partner at Hogan Lovells. She holds voluntary positions as Vice Chair of governors at St Albans School and is a member of the governing body of St Albans School for Girls.

Lesley is also a member of the Financial Conduct Authority’s Competition Decisions Committee  Panel.

David Thomas - EDC and CDC member

David has more than 30 years’ experience in regulated sectors as both an accountant and economist and is currently a Specialist Panel Member at the Competition and Markets Authority. He is also a member of the Consumer Panel at the Civil Aviation Authority. David started his career at PwC and has held roles at Ofcom and KPMG, before starting his economic consultancy company, DT Economics in 2016. During his career, he has advised over 150 operators and regulators on matters such as competition, regulatory pricing, cost modelling and customer engagement.

David is also a member of the Financial Conduct Authority’s Competition Decisions Committee Panel.

Simon Polito - EDC and CDC member

Simon is a competition law specialist, with over 35 years’ experience working at Hogan Lovells. After leaving Hogan Lovells in 2011, Simon became Deputy Chairman of the Competition Commission. He then became Inquiry Chair at the CMA, a role he held for four years. Whilst at the CMA, he chaired Phase 2 mergers inquiries, the payday lending market investigation and four Case Decision Groups.

Simon is also a member of the Financial Conduct Authority’s Competition Decisions Committee Panel.