Financial Services Consumer Panel

Treasury written question – answered on 24th May 2021.

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Photo of Angela Eagle Angela Eagle Labour, Wallasey

To ask the Chancellor of the Exchequer, what recent discussions he has had with members of the Financial Services Consumer Panel on the appointment of members of that panel who are nominated by trade associations.

Photo of John Glen John Glen Minister of State (Treasury) (City), The Economic Secretary to the Treasury

The FCA is an operationally independent non-governmental body and is solely responsible for everyday operational decisions. Appointments to the FCA’s statutory panels, including the Consumer Panel, are a matter for the FCA. The Treasury does not make those appointments although its role is to approve the decision taken by the FCA regarding the appointment or dismissal of the Panel’s Chair. It would not be appropriate for the Treasury to otherwise intervene in the FCA’s appointment process, beyond its statutory role in approving the appointment or dismissal of the Chair.

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