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Consumer Panel calls for more consumer representation on FSA board

The Financial Services Consumer Panel has called for greater consumer representation on the board of the FSA.

Consumer Panel acting chairman Adam Phillips has called for an improved voice on the board for the “ordinary consumer” in light of Sir James Crosby’s resignation yesterday.

Phillips says: “I made the point in my evidence to the Treasury Committee in December that the level of understanding of consumers and the consumer interest on the FSA board needed to be improved.

“The resignation of Sir James Crosby provides the ideal opportunity for the Treasury to appoint someone to the board who can do just that. The FSA board needs people who understand the industry, but also those who identify with the consumers that regulation is there to protect.”

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