Transparency Task Force calls for diverse assessment panel for FCA chair

Open letter with over 40 signatories

The Transparency Task Force has written an open letter to John Glen, economic secretary to the Treasury, calling for half of the assessment panel that chooses the next chair of the Financial Conduct Authority to be comprised of consumer champions.

The letter, which is co-signed by over 40 individuals, said the "successful candidate really must enjoy the unqualified support of stakeholders beyond the Square Mile". It includes a list of individuals that "have the kind of background and track record that demonstrates they can authentically reflect the consumer interest". Among others, these are victims of scams and other "regulatory failures" and those that have "first-hand experience of advocating for consumer interests in financial services". Industry questions 'unusual' departure of Charles Randell from FCA The signator...