Statutory panels

We consult on our work with four independent statutory panels. Find out more about what each panel covers.

We work with four statutory panels when developing our policies and other regulatory decisions.

Statutory panels represent the interests of consumers and practitioners, including smaller regulated firms and financial market participants.

The panels play an important role in advising and challenging us. They bring experience, support and expertise in identifying risks to the market and to consumers. 

Financial Services Consumer Panel

The Financial Services Consumer Panel checks how far we fulfil our objectives in relation to consumers. It’s an independent panel and can publish its views on our work, and commission research on consumer views.

Practitioner Panel

The Practitioner Panel gives us external and independent input from the point of view of the industry.

Members are senior level representatives from each of the major regulated sectors. The Practitioner Panel has a close relationship with the Markets Panel, with some members sitting on both to help provide a coordinated industry view.

Smaller Business Practitioner Panel

The Smaller Business Practitioner Panel represents smaller regulated firms that may not have a strong voice in policymaking.

The panel is made up of senior level representatives of eligible practitioners. This includes practitioners representing firms of small or medium size within their sector, whether by:

  • market capitalisation
  • funds under management
  • size of balance sheet
  • employees

The Chair of the panel is also an ex-officio member of the Practitioner Panel. This helps to coordinate industry views and ensures that the smaller firm perspective is considered during Practitioner Panel discussions.

Markets Practitioner Panel

The Markets Practitioner Panel gives us external and independent input from the point of view of financial market participants.

Members of the panel are senior level representatives of sectors participating in financial markets. There are some specific requirements for membership listed in the legislation.

Page updates

19/07/2022: Editorial amendment General plain language updates.