9 July 2013
New Financial Services Consumer Panel Chair Sue Lewis has pledged to fight for a better deal for consumers as she takes over from Adam Phillips. Sue has praised her predecessor for his nine years’ service and pledged to continue his hard work in building the Panel’s role as a consumer advocate.
Sue has a longstanding interest in financial services and in addition to her Panel role Sue is currently a Consumer Advocate Member on the Chartered Insurance Institute’s Professional Standards Board, and is a Trustee of the Personal Finance Education Group (pfeg) and of StepChange, debt advice charity.
Sue Lewis, Consumer Panel Chair commented:
“Financial products and services are essential to everyday life. People should be able to buy the products they need, and do so with confidence the seller is acting in their best interests. The FCA’s new remit is a big step in the right direction. I’m looking forward to supporting and encouraging the regulator to put good consumer outcomes at the heart of its work.
I would like to thank my predecessor Adam Phillips, who has served on the Panel since 2004, the past four years as Chair. As Panel Chair, Adam has steered the Panel through a period of significant change, in particular exerting influence on the Financial Services Act 2012 and the future shape of conduct regulation in the UK. Under Adam’s leadership the Panel has gained a reputation as a credible, well informed, consumer advocate. He will be a hard act to follow.”
Notes to editors
- Biographical details for Sue Lewis and photographs in a range of resolutions are available on our website[1]
- The decision to appoint the Chair of the Panel was made by the FCA Board and approved by HM Treasury effective from the 1 July 2013.
- 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 and reports on the FCA's performance in meeting its objectives.
- 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 here[2].