Enforcement Committee Panel
Role of the Enforcement Committee Panel
The Chair of the Enforcement Committee Panel shall appoint members to an Enforcement Committee.
An Enforcement Committee is required to undertake functions under Part 3 of the Auditor Regulatory Sanctions Procedure or Part 3 of the Crown Dependencies Recognised Auditor Regulatory Sanctions Procedure in relation to an alleged failure to comply with the Regulatory Framework.
| Name | Terms of Reference |
|---|---|
| Publication date | 28 November 2022 |
| Notes | The responsibilities of the Enforcement Committee Panel are set out in the Panel's Terms of Reference. |
| Format | PDF, 114.4 KB |
Committee Panel Members
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Richard Jones
Chair
Richard Jones is a retired barrister, who dealt with a wide range of disputes, especially in the field of financial services. He took silk in 1996. For a number of years he was a legal chair of FRC disciplinary tribunals, and has extensive knowledge of regulatory issues. He is a consultant with Seymour Law LLP in Jersey.
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Manu Duggal
Member
Manu started his working life in investment banking, holding senior roles for fifteen years at global firms including Lazard and Swiss Bank Corporation (UBS) in capital markets, corporate finance, derivatives, and arbitrage.
His experience in regulatory adjudication is extensive: he has been a Member of the First-tier Tribunal (Charity) since 2010 and a Member of the First-tier Tribunal (Tax) since 2024. These jurisdictions hear appeals against the regulator (Charity Commission and HMRC respectively).
He is a Non-executive Director at a mid-size, trust company operating in a highly regulated industry overseeing over £2bn in assets held under five hundred trusts and corporate vehicles.
He has a consultancy practice in dispute resolution, offering expert opinion (in financial matters) and advising parties on managing complex, multi-disciplinary disputes.
He has been a magistrate in central London since 2005. He was previously on the Finance Committee of Justice, a leading law reform and human rights charity, and Trustee of LEAP, a project to help less-advantaged, unemployed people from West London into employment.
He holds degrees in Physics, Law (LLB and LLM) and an MBA.
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Graham McGregor
Member
Graham McGregor is a former partner with PricewaterhouseCoopers LLP and its predecessor firms, where he worked for 38 years, 28 of them as an audit partner, in Scotland, London and Canada. Graham held several senior positions within PricewaterhouseCoopers, leading several assurance business units within the firm. He was senior audit partner with responsibility for a number of large listed companies. He retired from PricewaterhouseCoopers in June 2016. Graham has been chair of the Institute of Chartered Accountants of Scotland's (ICAS) Audit and Assurance Committee and a member of the ICAS Technical Committee.
He has been a member of the FRC Enforcement Panel since 2019 and the FRC Tribunals Panel since 1 January 2023. Graham is a Chartered Accountant, a member of both ICAS and the Institute of Chartered Professional Accountants of Canada. He has a degree in Accountancy from the University of Glasgow.
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Anna Simons
Member
Anna Simons is UK Head of Conduct Risk at UBS London where she is also the bank's subject matter expert on managing conflicts of interest. Prior to joining UBS in 2014, she worked for the Financial Conduct Authority in a variety of regulatory roles spanning policy, risk and banking supervision. As Head of Capital Markets at the FCA, she led the work on regulatory reform of LIBOR. Her time in regulation followed a twenty year career in banking at SMBC and at BNP Paribas where she headed up the UK Corporate Banking Department. She studied at the London School of Economics and immediately after graduation worked as an economist in the Department for International Development. From 2014-16 she sat as a member of the Investigating Committee of the General Dental Council to consider allegations of impaired fitness to practice against dental professionals.
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Caroline Trewhitt
Member
Caroline currently serves as the Independent Investigator for the UK’s depositor protection regime managed by the Financial Services Compensation Scheme. Prior to this she was appointed as an independent Decision Committee Chair on a number of banking regulatory and remediation programmes including FCA mandated Section 166 reviews.
Caroline’s career commenced at Reuters and she held a number of corporate development roles in the UK and overseas. She subsequently led acquisition and divestiture activities for a number of large international companies.
In addition to her professional work Caroline holds a number of Board appointments in the not for profit sector. She is currently Audit Chair for the Royal Hospital Chelsea and on the Board of the Charles Dickens Museum.
Caroline holds a BA in English Literature for the University of Birmingham and an MBA from Durham University.