institute of economic affairs

The Institute of Economic Affairs' Shadow Regulatory Policy Committee

The Shadow Regulatory Policy Committee (SRPC) is a group of practising economists, lawyers and industry leaders who have built up extensive experience and expertise in competition and regulatory policy issues. It meets once a quarter at the Institute of Economic Affairs (IEA) to discuss and comment on the latest regulatory developments and initiatives, not only in the UK, but also in the rest of the EU and in a global context.

What is the SRCP?

SRCP members develop and publish research and comment examining the scope for market solutions in the area of regulation. Market mechanisms can frequently offer a more effective approach than statutory intervention in addressing economic and social problems. SRCP examines where self-regulation or co-regulation can offer a flexible and reliable route to achieving policy makers’ goals.

SRCP membership

Chairman: Keith Boyfield

Keith Boyfield (pictured here) is a consultant economist who specialises in competition and regulatory issues. He runs a City consulting firm (www.keithboyfieldassociates.com) which advises a range of multinational financial institutions and companies, non profit bodies and governmental organisations including the European Commission.He is a Fellow of the IEA and a member of the Editorial Board of Economic Affairs, the IEA’s quarterly journal. He was Guest Editor of the June 2006 issue, which focused on better regulation without the state. He has written over forty studies for several leading think tanks and his most recent publications include Selling the City Short: A Review of the Financial Services Action Plan, Regulating Communications: the Future Regulation of UK Communications & Broadcasting, a series of studies for the London Business School. Keith was the founder editor of the quarterly financial journal, Balance Sheet, published by NTC Publications.

Secretary: Martin McElwee

Martin McElwee is a lawyer at Freshfields Bruckhaus Deringer, specialising in competition issues. He was formerly Deputy Editor at the Centre for Policy Studies, where he continues to be a Research Fellow. He was also head of research at the Bow Group, and the editor of its journal, Crossbow. He has authored numerous publications, including Mr Blair's Legacy: the Legislative and Regulatory Reform Bill (CPS, 2006), Leviathan at Large: a new regulator for the financial markets (CPS, 1999 (with Andrew Tyrie MP)). A-Levels: Choosing the Best (Bow Group, 2005) and The Guardian of the Airwaves (Policy Exchange, 2004).

IEA Observer: Philip Booth

Professor Philip Booth is the Editorial and Programme Director of the IEA and Professor of Insurance & Risk Management at Cass Business School. He attends meetings of the Committee on behalf of the IEA.

Other Members

Dr Jon Bird

Dr Jon Bird was a career civil servant at the Department of Energy, DTI and Treasury. He then moved to industry where he has held various senior executive positions at BNFL plc, Northern Electric plc and subsequently CE Electric, a division of MidAmerican Holdings (www.ce-electricuk.com).He was a member of the DTI’s Administrative Burdens Monitoring Group and he is currently a member of the CBI’s Energy Policy Committee and of the North East CBI Regional Council.

Rory Chisholm

Rory Chisholm is a Partner at Finsbury Ltd, a financial communications and public affairs consultancy with offices in London , Brussels and New York (www.finsbury.com). Rory has headed Finsbury's political & regulatory practice since joining the company in April 2000. He is also a Director of FIPRA (Finsbury International Policy & Regulatory Advisors), Finsbury's European and international public affairs network. From 1988-2000 he worked for the political consultancy GJW, working principally on the public affairs aspects of competition policy and regulatory policy.

Dermot Glynn

Dermot Glynn is chairman of Europe Economics, a specialist microeconomics consultancy active in the fields of economic regulation, competition policy and public policy (www.europe-economics.com).
He was a member of the Department of Applied Economics at Cambridge. He served as economic director of the CBI, chief economist at KPMG, and UK managing director of NERA, before founding Europe Economics in 1998. He delivered the 2005 Beesley lecture on regulation in the postal sector, to be published shortly by the IEA.

Derek Holt

Derek Holt is a Director of Oxera, the international consultant economists, based in Oxford and Brussels (www.oxera.com).Derek has built a reputation as an economist specialising in regulatory economics, finance, transport and network utility sectors including energy and water. In the field of regulation, he has advised companies and regulatory authorities in the UK, Europe and Australia on the design of access pricing frameworks, introducing competition in networks, incentive design, cost of capital and asset valuation. He has also worked with the World Bank in developing regulatory frameworks for energy, telecoms and water in Africa.

Sir Adam Ridley

Sir Adam Ridley recently completed his term as Director General of the London Investment Banking Association (LIBA). He was formerly a Director of Hambros Bank and Hambros plc. He has been a member of the Council of Lloyds of London and he continues to serve as Chairman of the Trustees of Equitas. Between 1995 and 2000 he was Deputy Chairman of the National Lotteries Charities Board.In his wide ranging career Sir Adam has served as Special Adviser to the Chancellor of the Exchequer at H M Treasury and as a member of the Central Policy Review Staff under Lord Rothschild.

Stephen Sklaroff

Stephen Sklaroff is currently Director General of the Finance & leasing Association. He was formerly Deputy Director General of the Association of British Insurers (ABI). Stephen is a member of the International Advisory Board of the City of London Cass Business School, and of the Motorists’ Forum (which advises the Government on road transport policy).Stephen has a wealth of experience working in government. He served in the Secretary of State’s office at the Dept of Energy and he spent three years at the British Embassy in Washington DC where he was responsible for energy, environment and telecommunications policy. He subsequently held a variety of posts at DTI including Director of Resource Management & Procurement. Stephen was Head of Communicationsat the DTI for three successive Secretaries of State: Rt Hon Margaret Beckett MP, Rt Hon Peter Mandleson MP and Rt Hon Stephen Byers MP.Stephen also built up valuable experience as a Board member of Companies House, the National Weights & Measures Laboratory and the Employment Tribunals Service.

You can find IEA publications, news stories, press articles and recommended books on regulation by searching the "Issues" section of the website under the heading "Regulation". Some of the IEA's most important publications on regulation can be found below. All IEA publications can be downloaded free of charge. Our journal, Economic Affairs, cannot be downloaded in full, but recent issues have a sample article and an editorial that can be downloaded. Editions of the journal can be purchased individually.

Institute of Economic Affairs, 2 Lord North Street, Westminster, London, SW1P 3LB | tel: 020 7799 8900 | fax: 020 7799 2137 | email: iea@iea.org.uk

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