The Financial Conduct Authority (FCA) has today announced the appointment of Wanda Goldwag as the new Chair of the independent Financial Services Consumer Panel. The appointment, effective from 1 March 2019 for an initial three-year term, has been confirmed by HM Treasury.
Wanda will be the public face of the panel, leading and giving strategic direction by representing the Panel’s views to the FCA board and to the senior staff within the FCA and represent the Panel outside the FCA. In addition to this, she will lead the development of the Panel’s work and ensure that performance goals are met. Wanda succeeds Sue Lewis, who was Chair for a total of five and a half years.
Charles Randell, FCA Chair, said:
'The Consumer Panel plays a vital role in ensuring that the FCA hears the voice of consumers. I am sure that Wanda will continue the important work of the Panel and I look forward to working with her in her new role. I would like to thank Sue for her contribution to the work of the Panel and also Mark Chidley, who stood in as interim Chair for two months.'
Wanda Goldwag, the incoming Chair of the Financial Services Consumer Panel, said:
'The Panel plays a significant part in ensuring the FCA meets its objectives – and particularly to secure an appropriate degree of protection for consumers – and I’m looking forward to meeting regularly with the Chair and Chief Executive of the FCA to promote consumer interests. Sue Lewis was a very strong consumer champion and will be a hard act to follow but I am excited about the challenge of exerting influence on the future shape of financial conduct regulation in the UK.'
The Financial Services Consumer Panel is an independent statutory body set up to represent the interests of consumers in the FCA’s development of policy. It works to advise and challenge the FCA from the earliest stages of its policy development to ensure the regulator takes into account the consumer interest.
Notes to editors
- The FCA has a statutory requirement, as set out in the Financial Services and Markets Act 2000, to consult independent panels representing consumers and practitioners (as amended).
- Appointments of the Chairs of the Statutory Panels are made by the FCA Board and are approved by HM Treasury.
- Wanda Goldwag is currently Chair of the Office of Legal Complaints, the board that controls the legal ombudsman service for England and Wales. She is also a Non-Executive Director of The Royal Free London NHS Trust and a lay member of the QC appointments panel.
- More details about the Financial Services Consumer Panel[1].
- The FCA has an overarching strategic objective of ensuring the relevant markets function well. To support this it has three operational objectives: to secure an appropriate degree of protection for consumers; to protect and enhance the integrity of the UK financial system; and to promote effective competition in the interests of consumers.