Notes to editors
1. Ron Sandler was commissioned by The Chancellor, Gordon Brown MP in June 2001, to undertake a review of the medium and long term retail investment market. His report has been published today, 9th July 2002.
2. The Financial Services Consumer Panel has published two responses to the FSA's consultation on polarisation (CP121). Its second response entitled "Chapter 5 – complementary initiatives in the retail marketplace, from ‘CP121: reforming polarisation" was published on 10 June 2002, and sets out the Panel's views on generic advice in more detail.
3. The Financial Services Authority (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. Following the commencement (on 18 June 2001) of certain sections of the Financial Services and Markets Act 2000, the Consumer Panel now has statutory status. The FSA must consider its representations and, if it disagrees with a view expressed or proposal made in the representation, it must give the Panel a statement in writing of its reasons for disagreeing.
4. The Financial Services Consumer Panel also has a responsibility to keep under review developments in financial services generally, insofar as they impact on consumers, and so has made representations to Ron Sandler during the course of his review.
5. 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.
6. There are currently thirteen members of the Panel as listed below (for further information on individual members, see the Panel's Web site at www.fs-cp.org.uk):-
Colin Brown (Chairman)
Ann Foster (Vice Chairman)
Jean Gaffin
Harriet Hall
John Howard
Jane Vass
Richard Smethurst
Dave Watts
Paul Salvidge
Dianne Hayter
Nick Pearson
Vinod Kumar
Yvonne Gallacher
Enquiries
Media: 020 7066 0902
Publications: 020 7066 3298
Back to release |
