The Financial Services Consumer Panel received statutory status this Monday
(June 18).

The Financial Services Authority (FSA) established the panel in December 1998 to give advice on the interests of consumers and to assess the FSA's success in meeting its objectives.

On Monday, the relevant sections of the Financial Services and Markets Act 2000 came into effect, and it became a statutory duty for the FSA to maintain the panel and consider its representations.

The Practitioner Panel, which represents the interests of financial practitioners, also received statutory status on Monday.