Fod Barnes

Associate

Email
+44 (0) 20 7776 6600

Location: London

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Profile

Fod specialises in public policy and economic issues surrounding regulation and competition—in particular, those raised by the introduction of competition into previously monopoly supply industries, both utility industries and those that rely on networks (e.g. many financial services companies and the airline industry), as well as other sectors being opened up to market and market-based mechanisms (e.g. health in the UK). Of particular interest are the implications of vertical integration where the supplier operates in both monopoly and competitive markets, and markets where serious information asymmetries exist or consumer behaviour is a long way from conventional economic assumptions. Markets in transformation (driven by technical or regulatory developments) are a speciality, with an emphasis on how end-user demand translates into new market dynamics (and potential market failures) in the presence of new production techniques of new regulatory requirements.

He is also a specialist in the area of consumer policy. He provided regulatory, economic and strategic advice across the whole output of Oftel during his nine years as policy adviser to all the Directors General (including on the accounting separation of BT), and has advised the chief executive of the Healthcare Commission on regulatory reforms, and regulatory coherence for a UK economic regulator. He was also the Chairman’s adviser on the Walker Review on Charging for Water, and the Chairman’s adviser for the Cruickshank Review of Competition in UK Banking.

Fod is also a Senior Adviser to the Financial Conduct Authority.

Selected project experience

  • Conducted the first extended impact analysis (on digital spatial data) for the European Commission (2003)

  • Advised the Depository Trust & Clearing Corporation on the economic impact of failures in corporate action processing (2004)

  • Advised the FSA on changing the regulation of softing and bundling, including cost–benefit analysis (2004)

  • Advised an Internet exchange on the interaction between tax structures and competition (2005)

  • Advised the Financial Services Authority on the development of a methodology to measure the benefits of regulation (ex post and ex ante) (2006)

  • Provided advice to the chief executive of the Healthcare Commission on regulatory reform and regulatory structures (2007)

  • Provided guidance to the Department of Health and the NHS on the development of markets and market-based mechanisms for PCTs (2008)

  • Advice to the Government Equalities Office in relation to the impact of age discrimination in the provision of financial services (2008)

  • Chairman’s adviser for the Walker Review on Charging for Water (2009)

  • Advised the Association of British Insurers on the impact of a ban on the use of gender in insurance pricing (2010)

  • Advice to the Financial Services Authority on the implementation of the Mortgage Market Review (2010)

  • Advice to RBS on the interactions between competition and regulation (2011)

  • Advice to the Association of British Insurers on the design of the flood insurance market after the end of the voluntary agreement on flood insurance provision in high-risk areas (2011)

  • Advice to the Legal Services Board on the ongoing information requirements for regulation (to enable efficient implementation of benchmarking, regulatory impact assessments, market trends, etc.) (2011)

  • Advice on the impact of the financial transaction tax on different stakeholders, for AFME (2012)

  • Advice to the Foresight Panel on the impact of proposed rules affecting the microstructure of capital market trading venues (high frequency trading) (2012)

  • Advice on overall regulatory coherence, for a UK regulator (2012)

  • Advice for the Brazilian Securities and Exchange Commission on the market structure of the Brazilian equity market (2012)

  • Development of an alternative funding and ownership model for the provision of Next Generation Access Networks, for Vodafone (2012)

  • Advice for a mid-tier audit firm in relation to the Competition Commission market study on the UK audit market (2013)

  • Advice on the regulatory implications of patterns of cost recovery in financial services markets with multiple products and joint costs (2013)

  • Advice on a potential merger where both supply and demand conditions were a long way from normal market conditions (2013)

  • Delivered a training course on competition policy to the FCA (2013)

  • Analysis of the impact of proposed benchmark regulation (2013)

  • International comparison of trading, clearing and settlement services provided by infrastructure providers, for the Australian Securities Exchange (2014)

  • Analysis and advice on the potential regulation of the pricing of market data services (2015)

  • Advice to the States of Jersey on fiscal strategy, tax policy, population issues, micro-market conditions on the Island, and economic policy generally (2000–)

  • Acted as Chairman’s adviser for the Cruickshank review of UK retail banking (1998–2000)

Selected publications

  • Contributions to books such as In the Absence of Competition and Air Transport Regulation by the National Consumer Council.

  • Niels, G., Barnes, F. and Dijk, R. van (2003), ‘Unclear and Unsettled: The Debate on Competition in Clearing and Settlement of Securities Trades’, European Competition Law Review, 24:12, pp. 634–9.

Qualifications

  • MSc Advanced Architectural Studies, University College London

  • BSc Architecture, Planning and Environmental Studies, University College London