On 12 November 2024, the Bank of England (BoE) published an updated procedures document for its Enforcement Decision Making Committee (EDMC). The update follows the publication of the BoE’s policy statement on its approach to enforcement and proposed changes to statements of policy and procedure following the Financial Services and Markets Act 2023.

The EDMC was created by the Court of the BoE (which manages the affairs of the BoE) to help the BoE discharge its responsibilities and strengthen its enforcement processes by ensuring a functional separation between the BoE’s investigation teams and its decision makers in contested enforcement cases within the following statutory regimes operated by the BoE: (1) Prudential Regulation; (2) Financial Market Infrastructure (FMI); (3) Resolution; (4) Securitisation; (5) Wholesale Cash Distribution and (6) Critical Third Parties.