Baigrie Davies director Amanda Davidson has been appointed to the FSA board as a non-executive director. She will be resigning from her role as deputy chair of Aifa to prevent potential conflicts of interest.
Advisers have welcomed the move as offering the IFA community much needed representation at the FSA.
Davidson has been a director of Baigrie Davies since 2005 and deputy chair of Aifa since 2006. Her career includes being a director of Holden Meehan, where she was involved in the sale of the business to Bradford & Bingley, and she was also a founding director of Chase de Vere.
She gained regulatory experience from serving on the board of the Personal Investment Auth ority from 1999 to 2000 and was a member of the
FSA’s regulatory decisions committee from 2001 to 2006.
She is a current member of the FSA’s financial capabilitysteering group.
Cambridge University professor of management Dame Sandra Dawson has also been appointed an FSA non-executive director.
Both Davidson and Dawson take up their positions in May. FSA chairman Adair Turner says: “Amanda’s strong background in independent financial advice and regulation will bring a vital extra dimension and balance to the board.”
Aifa director general Chris Cummings says he is pleased that the regulator has listened to Aifa’s concerns over lack of representation.
He says: “This appointment is a welcome recognition by FSA that the intermediary sector has not been adequately represented on its board.”
Church Hill Finance principal Anthony Badaloo welcomes the appointment but adds: “We are probably weeks from a general election with an opposition that intends to scrap the FSA, so it does possibly seem to be too little too late.”
Consilium Financial Planning managing director Kevin Morgan says: “Davidson will be able to convey the points of view for the IFA community
good and bad. She is fairminded, so I would not expect any favours but at least there is somebody who actually understands the impact that
regulation has on member firms and that has got to be welcomed.”