Lord David Lipsey will take over from John Howard as chairman of the Financial Services Consumer Panel on June 2.
During his career, Lipsey’s journalism roles included deputy editor of the Times, Sunday Correspondent and New Society magazine and political editor of The Economist.
He also has a wide range of experience as a regulator, including at the Personal Investment Authority where he was a member of the Pensions Review Committee and the Advertising Standards Authority.
Lord Lipsey has taken public policy roles including chair of the Social Market Foundation think tank and membership of three official government enquiries.
As a condition of his appointment, Lipsey is resigning the Labour whip in the Lords.
FSA chairman Callum McCarthy says: “I am very pleased that David Lipsey has agreed to become chairman of the Consumer Panel. He brings a wealth of experience in regulation, financial services and communications and will no doubt provide challenging ideas on behalf of consumers to the development of policy at the FSA.
“We look forward to David building on the work carried out under the previous Chairman John Howard, who has ensured that the Panel has continued to provide a strong independent consumer voice to the FSA.”
The FSCP is established according to the Financial Services and Markets Act 2000, to represent the interests of consumers and is independent of the FSA in its views.
The FSA Board appoints Panel members, with the Treasury’s approval in the case of the Chairman. Lord Lipsey was recruited through open competition according to Nolan principles. His predecessor Howard chaired the Panel from October 2005 to March 2008.IFAonline
'Right thing to do'
£69m spent on upgrades
European fintech market 'underserved'