NEW CHAIRMAN FOR THE CONSUMER PANEL

31 Jul 2003 12:45 PM

The FSA today announced that Ann Foster would take over as Chairman of the Financial Services Consumer Panel from 1 November 2003 succeeding Colin Brown who is moving to a senior post at the Office of Fair Trading. Ann Foster has been Vice-Chairman of the Panel since 1 January 2001.

FSA Chairman Howard Davies said:

"We wish Colin very well in his new and important role at the OFT. He has provided dedicated and effective leadership for the Panel since his appointment as Chairman two and half years ago at the start of 2001. His personal understanding of the retail financial services market is second to none. I am delighted that Ann will be taking over as Chairman. She and the other members will ensure that the Panel continues to act as a strong, independent consumer voice to the FSA."

NOTES TO EDITORS:

1. Colin Brown's term as Chairman of the Panel was to have run until 31 March 2004 with Ann Foster taking over then - see FSA Press Notice 101/2002.

2. Details of Colin Brown's new post can be found in an OFT Press Release issued today and available on their website www.oft.gov.uk

3. Biographies:

Ann Foster
Ann is an independent consumer affairs consultant and formerly Director of the Scottish Consumer Council. She is a member of Postwatch, the Consumer Council for Postal Services, and a member of the Health Professions Council. She was appointed Vice-Chairman of the Panel in January 2001.

Colin Brown
Colin is a consultant specialising in consumer affairs, working with consumer organisations throughout the EU and in Central and Eastern Europe. He was previously Deputy Director of Research at the Consumers' Association and Senior Fellow at the Policy Studies Institute. He joined the Panel in December 1998 and was appointed Chairman in January 2001.

4. The other members of the Consumer Panel are Jean Gaffin, Yvonne Gallacher, Harriet Hall, Dianne Hayter, John Howard, Vinod Kumar, Nick Pearson, Paul Salvidge, Richard Smethurst Jane Vass and Dave Watts. Brief biographical details for these members can be found on the Panel's website: www.fs-cp.org.uk

5. The Financial Services and Markets Act requires the FSA to establish a panel of persons to represent consumers as part of the arrangements it must make for consulting consumers on its general policies and practices. The Financial Services Consumer Panel was established by the FSA in December 1998, ahead of this legislation.

6. The Consumer Panel receives an annual budget and staff support from the FSA but is independent of the FSA in its views.

7. The FSA regulates the financial services industry and has four objectives under the Financial Services and Markets Act 2000: maintaining market confidence; promoting public understanding of the financial system; securing the appropriate degree of protection of consumers; and fighting financial crime.

8. The FSA aims to maintain efficient, orderly and clean financial markets and help retail consumers achieve a fair deal.

ENQUIRIES:
Public: Consumer Helpline 0845 606 1234
Website: http://www.fsa.gov.uk

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