FCA appoints new chair for Financial Services Consumer Panel
The UK’s Financial Conduct Authority (FCA) has appointed 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.
This 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.
Charles Randell, FCA chair, comments: “The Consumer Panel plays a vital role in ensuring that the FCA hears the voice of consumers.”
Goldwag adds: “I am excited about the challenge of exerting influence on the future shape of financial conduct regulation in the UK.”
She will be the “public face” of the panel, leading and giving direction by representing its views to the FCA board and to the senior staff within the FCA and represent the panel outside the FCA.
Goldwag succeeds Sue Lewis, who was chair for a total of five and a half years.
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 Queen’s Counsel (QC) appointments panel.
The Financial Services Consumer Panel says it meets formally twice a month to review policy developments, question FCA staff on their policy developments and develop opinions on proposals for change in the regulation of financial services. A summary of its work and opinions is provided in its annual report which is usually published in June or July.