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."

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