The FSA has appointed Mark Rothery as chairman of the Smaller Businesses Practitioner Panel.
He succeeds Ruthven Gemmell who having served a two year term as chairman, stands down and assumes the role of deputy chairman for one year.
The Panel was established by the FSA in 1999 to represent the views and interests of smaller regulated firms.
Mark Rothery, said: "My priority for the next twelve months is to build on the good work that Ruthven has done and to ensure that the FSA continues to address the interests of smaller firms, which now constitute over 90% of all regulated firms.
"I am sure that the Panel and the FSA will continue to engage with each other in an open and collaborative way, thereby putting our expertise to best use, and helping to ensure that the FSA adopts a pragmatic, proportionate, risk-based approach to the treatment of smaller firms.
"The main aspiration I have is to ensure that the engagement happens consistently at an early stage and that the Panel can assist the FSA's understanding of the industry's position sooner in its thought process.
"This is especially important as we move towards a more principles based approach to regulation, and all that that entails for smaller firms."
