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FCA appoints new competition board members

FCA appoints new competition board members

The Financial Conduct Authority (FCA) and Payment Systems Regulator (PSR) have appointed five new members to three of their competition committees.

Lesley Ainsworth, Simon Polito, David Thomas and Tim Tutton will sit on the FCA’s competition decisions committee (CDC) and the PSR’s competition decisions committee, as well as the enforcement decisions committee.

Alasdair Smith will become a panel member of the FCA’s CDC.

These three committees are tasked with taking decisions when a settlement cannot be reached in matters that concern competition law and regulatory decisions.

‘The candidates all have considerable competition and regulatory experience in a variety of sectors, and will enable these decision-making committees of the FCA and PSR to maintain high standards in their important work,’ said Charles Randell, chairman of the FCA and PSR.

Ainsworth is currently a panel member of the competition and markets authority, a role she has held since July 2013. She has over 30 years of experience working in the legal sector, including as a competition lawyer and partner at Hogan Lovells.

Polito is a competition law specialist, with over 35 years’ experience also working at Hogan Lovells. After leaving the firm in 2011, Polito became deputy chairman of the Competition Commission.

Thomas has spent 34 years in regulated sectors as both an accountant and an economist and is currently a specialist panel member at the Competition and Markets Authority. He started his career at PwC and has held roles at Ofcom and KPMG, before founding an economic consultancy company, DT Economics in 2016.

Tutton is currently a non-executive director at Bristol Water, an honorary lecturer in economics at City University and a freelance adviser on economic and regulatory issues.

Smith is currently a member of the determinations panel at The Pensions Regulator, a commissioner at the Scottish Fiscal Commission, and emeritus professor of economics and a member of UK Trade Policy Observatory at the University of Sussex.

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