The Financial Conduct Authority (FCA), the Prudential Regulation Authority (PRA) and the Bank of England have today announced the appointment of Amerdeep Somal as Complaints Commissioner.
The Commissioner oversees the final stage of investigations into complaints against the FCA, PRA and the Bank. The role is independent from the three organisations.
Amerdeep will replace current Commissioner Antony Townsend on 1 November and will serve an initial term of three years.
Christopher Woolard, Interim Chief Executive of the FCA, said: ‘Independent scrutiny is vital to the transparency and standards of the UK regulatory system.
‘We are pleased to see Amerdeep appointed to the role of Complaints Commissioner and we look forward to working with her.
‘We would also like to thank Antony Townsend for his dedication and commitment over the last six years.’
Sam Woods, Deputy Governor for Prudential Regulation and Chief Executive Officer of the Prudential Regulation Authority, said: ‘The role of Complaints Commissioner is key to upholding a fair regulatory system and making sure we improve our effectiveness through time.
‘I would like to congratulate Amerdeep on her appointment, and look forward to working with her in the future.’
Amerdeep Somal, Complaints Commissioner, said: ‘I am delighted to be appointed to this important role.
‘The Complaints Commissioner plays a critical role – not only in providing people who are unhappy with the financial regulators with recourse to an independent review but also in helping them focus more widely on where they could improve the experience of all their customers.
‘I will ensure these important institutions are held accountable and open to rigorous scrutiny.’
Before taking her role, Amerdeep will step down from positions as the independent assessor of the Financial Ombudsman Service, a council member on the General Medical Council, and as a senior independent panel member for public appointments at the Cabinet Office.
She will retain her positions as a judge of the Asylum and Immigration Tribunal and as Chief Commissioner at the Data and Marketing Commission.
The FCA, PRA and the Bank last month launched a joint consultation[1] on the Financial Regulators’ Complaints Scheme.
Notes to editor
- Read the Complaints Scheme Consultation Paper[1]
- The appointment of the Complaints Commissioner is overseen by the FCA, PRA and the Treasury. The final approval for the appointment is given by the Treasury in line with statutory requirements.