Roy Leighton has taken over as chairman of the Financial Services Practitioner Panel at the FSA.
Leighton succeeds Jonathan Bloomer, who stands down and assumes the role of deputy chairman for one year.
The Panel was established under the Financial Services and Markets Act 2000 as a statutory body that represents the broad spectrum of regulated firms and the interests of practitioners within the regulatory framework.
Leighton said: "The Panel's agenda will be as busy as ever going forward. The FSA's commendable principles versus rules-based approach will be one of the greater challenges for both regulator and regulated alike, but should ultimately lead to a more flexible and pragmatic regime.
"Consumer confidence remains an important issue, part of which is being addressed through the Treating Customers Fairly initiative. I also plan to keep the Panel focussed on EU and other international issues, and the way in which UK efforts are organised to achieve the best possible results for practitioners in regulatory fora abroad."