Sue Lewis said:
“The need for a strong, independent, consumer voice has never been greater. I am pleased to have the opportunity to carry on leading the Panel’s work. Andrew Bailey faces a tough task maintaining the FCA’s consumer focus in light of the turmoil caused by the outcome of the EU referendum. Those who appear to have forgotten the financial crisis will put him under a lot of pressure to make regulation more ‘industry friendly’. The Panel is a strong team, with wide ranging expertise. We will do all we can to support Andrew and his colleagues to make financial services markets work well for individual and small business consumers.”
John Griffith-Jones, Chairman of the FCA added:
“I am pleased to be able to re-appoint Sue as Consumer Panel Chair. Her passion for consumer issues and hard work over the past three years meant she was the natural choice to continue in the role.”
Notes for editors
- Biographical details for Sue Lewis and photographs in a range of resolutions are available from the Financial Services Consumer Panel[1].
- Under Financial Services Act 2012, the FCA is required to set up a Consumer Panel as well as three practitioner Panels, the FCA Practitioner Panel, FCA Smaller Business Practitioner Panel and FCA Markets Practitioner Panel. The panels represent the interests of their constituents and provide independent views to the FCA. The majority of the current members of the Consumer Panel transferred from the FSA Consumer Panel.
- The Consumer Panel is a statutory body under the Financial Services Act 2012. It was initially established by the Financial Services Authority in December 1998. The Panel advises the FCA on the interests and concerns of consumers.
- The Panel’s membership is drawn from a broad range of backgrounds with expertise including market research, law, financial services industry, financial inclusion, European Regulation, financial regulation, consumer advice, campaigning, communications, compliance and later-life issues.
- The emphasis of the Panel's work is on activities that are regulated by the FCA, although it may also look at the impact on consumers of activities outside but related to the FCA's remit. More information about the Panel's work is available from www.fs-cp.org.uk[2].