Committees

Audit Committee

The Audit Committee is responsible for reviewing and providing assurance to the FCA Board[1] 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:

• Sophie Hutcherson (Chair)
• Julia Black
• Bernadette Conroy
• Dr Lara Stoimenova
• Bryan Zhang

Oversight Committee

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

Membership:

• Ashley Alder (Chair)
• Anita Kimber
• Stéphane Malrait
• Sarah Pritchard

Read about how the Oversight Committee[2] works. Terms of Reference for this committee are included in Corporate Governance of the FCA (PDF)[3].

People Committee

Membership:

• John Ball (Chair)
• Bernadette Conroy
• Anita Kimber
• Aidene Walsh
• Bryan Zhang

Terms of Reference for this committee are included in Corporate Governance of the FCA (PDF)[4].

Policy and Rules Committee

Membership:

• Julia Black (Chair)
• Ashley Alder
• John Ball
• Sophie Hutcherson
• Nikhil Rathi
• Aidene Walsh
• Sam Woods

Terms of Reference for this committee are included in Corporate Governance of the FCA (PDF)[4].

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)
• Sophie Hutcherson
• Anita Kimber
• Stéphane Malrait
• Dr Lara Stoimenova
• Aidene Walsh
• Bryan Zhang

Terms of Reference for this committee are included in Corporate Governance of the FCA (PDF)[5].

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[4].