The FCA Practitioner Panel received statutory status under the Financial Services Act 2012
We have an important statutory role in providing early input and challenge to the policies and practices of the Financial Conduct Authority (FCA), whose job is to ensure that financial markets function well.
Our Panel is part of the system that the FCA has to set up to make and maintain effective arrangements for consulting practitioners and consumers on the extent to which its general policies and practices are consistent with its general duties, as set out in the Financial Services Act 2012.
Panel members are senior executives from across the different sectors of the financial services industry in the UK. Our work is supported by a small secretariat provided by the FCA.
In addition to the Practitioner Panel, the FCA has the following other statutory Panels:
- FCA Markets Practitioner Panel - there is some overlap in membership between the Markets Practitioner Panel and Practitoner Panel
- FCA Smaller Business Practitioner Panel - the Chairman of the Smaller Business Practitioner Panel is also an ex officio member of the Practitioner Panel
- Financial Services Consumer Panel
The Prudential Regulation Authority is also required to set up its own PRA Practitioner Panel.