Sue Lewis has been appointed the new Chair of the independent Financial Services Consumer Panel. The Panel advises the FCA on the interests and concerns of consumers providing constructive challenge to its policymaking process.
Sue will take over as Consumer Panel Chair on 1 July 2013. Most recently Sue has been working as a non-executive director and independent policy consultant. Sue is currently the Consumer Advocate Member on the Chartered Insurance Institute’s Professional Standards Board, and is a Trustee of the Personal Finance Education Group and of Stepchange, a debt advice charity. As a consultant, Sue has advised Which? on consumers and financial services, and worked with the Organisation for Economic Cooperation and Development (OECD) on financial education. Previously Sue held a variety of senior policy roles in the Civil Service across a range of departments including HM Treasury, the Department for Education and the Cabinet Office.
John Griffith-Jones, chairman designate of the FCA said:
"I am pleased to have been able to make such a strong appointment as Consumer Panel Chair. Sue Lewis has a passionate interest in consumer issues coupled with vast experience in financial services policy. I look forward to working closely with her and the Panel.
"I am particularly grateful to the previous Chair Adam Phillips both for his valuable contribution to the success of the Panel and his long service. Adam joined the Panel in March 2004 and has been Consumer Panel Chair since December 2008. Under his leadership the Panel has gained a respected track record for advising the FSA and provided constructive input during the transition to the FCA."
Notes for editors
- Under Financial Services Act 2012, the FCA is required to set up a Consumer Panel as well as three practitioner Panels, the FCA Practitioner Panel, FCA Smaller Business Practitioner Panel and FCA Markets Practitioner Panel. The panels represent the interests of their constituents and provide independent views to the FCA. The majority of the current members of the Consumer Panel transferred from the FSA Consumer Panel.
- The decisions to appoint the Chair of the Panel has been made by the FCA Board and approved by HM Treasury effective from the 1 July 2013.
- The Consumer Panel is a statutory body under the Financial Services Act 2012. It was initially established by the Financial Services Authority in December 1998. The Panel advises the FCA on the interests and concerns of consumers.
- The Panel’s membership is drawn from a broad range of backgrounds with expertise including market research, law, financial services industry, financial inclusion, European Regulation, financial regulation, consumer advice, campaigning, communications, compliance and later-life issues.
- The emphasis of the Panel's work is on activities that are regulated by the FCA, although it may also look at the impact on consumers of activities outside but related to the FCA's remit. More information about the Panel's work is available on its website: www.fs-cp.org.uk
- You can find more information about the FCA, as well as how it is different to the PRA.