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
Richard Jones is a practising barrister, dealing 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.
Manu Duggal started his working life in investment banking, holding senior roles for fifteen years at global firms such as Lazard and Swiss Bank Corporation (UBS) in capital markets, corporate finance, derivatives, and arbitrage. He has many years of experience in regulatory adjudication including as a Lay Member of the Charity Tribunal hearing first instance appeals against decisions of the Charity Commission (the regulator) and also in ADR through managing complex and lengthy inter-governmental private arbitrations as party adviser. He is a Non-executive Director at a mid-size, trust company operating in a highly regulated industry overseeing over £1bn in assets held under several hundred trusts and corporate vehicles. He has a consultancy practice assisting clients with complex multi-disciplinary problems involving finance, risk management and disputes. He has been sitting as a magistrate in central London for 15 years. 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 (LLM) and an MBA.
Barbara Hadfield has served as chairperson of the Complaints and Adherence Committee of the European Payments Council (EPC) for several years and was formerly a member of that Committee. The Committee is involved in the regulation of the interbank settlement scheme across Europe. She was a partner in EY for approximately twenty five years working in the field of corporate finance and audit which included running audit quality review teams and being subject to audit quality reviews. She has significant experience with international corporates and corporate governance and was a compliance partner in the firm. She also performed a firm wide advisory role on technical accounting issues and Stock Exchange listing requirements, acting as an expert witness when required.
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.
Jetinder trained as a barrister in a large criminal chamber and the Home Office (prisons law including prisons healthcare); and practised as a Lawyer at the Scottish Government advising on miscarriages of justice, Scots/UK criminal and prisons law mainly. His former roles include: Adjudicator, Financial Ombudsman Service; Part-time visiting lecturer, public law, Kings College London; Adjudicator, Solicitors Regulation Authority (2008-2013); FTP Panel Chair, Nursing & Midwifery Council (2012-2016); and Independent Disciplinary Assessor, Association of Chartered and Certified Accountants, Currently his roles are: Judge of the First-tier Tribunal (Immigration and Asylum Chamber); Employment Tribunal Judge; and Legally Qualified Chair, MPTS/GMC.
Professional Memberships held: Member, Institute of Leadership and Management; Member, Association of Regulatory and Disciplinary Lawyers; Associate Full Member, Institute of Directors.
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.
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.