We consult on our work with 6 independent statutory panels. Find out more about what each panel covers.
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We work with these 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.
Cost Benefit Analysis Panel
The Cost Benefit Analysis Panel is in the early stages of creation and recruitment has started with the expectation that it will be fully operational by the end of the 2023.
The Financial Services and Markets Act 2023 requires us to establish and maintain a new Cost Benefit Analysis (CBA) Panel to provide advice to Financial Conduct Authority and Payment Systems Regulator in relation to cost-benefit analysis (CBA).
If you are currently working at an FCA-authorised firm (or for a payment system operator), have a background in economics and an interest in CBA, please see the attached role description with details on how to apply.
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.
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
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.