Consumer Panel welcomes the appointment of Hector Sants as Chief Executive of the FSA

13 July

The Financial Services Consumer Panel today welcomed the appointment of Hector Sants as Chief Executive of the FSA.

Commenting on the appointment, Panel Chairman John Howard said, "Although Hector Sants' previous role was mainly concerned with the wholesale markets, we are confident that he will be keen to give due regard to the concerns of the ordinary consumers of financial services. It is the Panel's view that the greatest challenges for the FSA in the next few years lie in the retail sector with the outcome of the Retail Distribution Review, the move to more principles-based regulation and retail banking being top of the list. We wish Hector well in his new role."

 

Notes to editors

1. The FSA established the independent Financial Services Consumer Panel in December 1998 to advise its Board on the interests and concerns of consumers and to report on the FSA’s performance in meeting its objectives. The Consumer Panel has statutory status.
   

2. The emphasis of the Panel’s work is on activities that are regulated by the FSA, although it may also look at the impact on consumers of activities outside but related to the FSA’s remit. More information about the Panel's work is available on this website.
   

3. The Consumer Panel brings together a wide range of relevant experience. This includes financial services regulation, working with vulnerable consumers, consumer protection, consumer education, front-line money advice, legal expertise, competition policy, public policy analysis, market research and media.
   

4. There are currently twelve members of the Panel as listed below.

   John Howard (Chairman)
   Adam Phillips (Vice Chairman)
   Kay Blair
   Michael Chapman
   Stephen Crampton
   Caroline Gardner

   Jenny Hamilton
   Tony Hetherington
   Nick Lord
   David Metz
   Lindsey Rogerson
   Carol Stewart