Peter Craddock, group operations director at Perspective, has been appointed to the Financial Conduct Authority’s Regulatory Decisions Committee on the same day he announced he is stepping down from his role at the national advice firm.
Mr Craddock, announced today (14 January) that he is stepping down from his role at Perspective. The company said he will remain in a consultancy role to ease the transition period to a new management team.
Mr Craddock is also a director of The Association of Professional Financial Advisers, an associate of the Chartered Insurance Institute and a chartered director.
The RDC is responsible for taking decisions on whether to refuse or grant contested applications into the regulated community, as well as decisions relating to the issuance of warning and decision notices for certain enforcement cases.
An FCA spokesperson confirmed the timing of the announcement was not significant, saying there are no rules preventing those with current roles in the industry from sitting on the committee and adding that “industry knowledge is invaluable”.
The regulator said members are paid an hourly rate for their work on the decisions committee.
Mr Craddock is one of three that have been appointed to the RDC. The other two appointments are:
• Former police officer Dame Elizabeth Neville, who since her retirement from the police force in 2004 has held a number of public positions including non-executive director at the Serious Fraud Office and is currently a non-executive member of board of The Insolvency Service; and
• Pauline Wallace, a former senior partner at PricewaterhouseCoopers, who in 2002 set up the global financial instruments team at PwC and later took on the role as head of regulatory affairs.