View more on these topics

FSA appoints board directors for compensation scheme

The Financial Services Authority has appointed three non-executive directors to the board of the Financial Services Compensation Scheme.

The new non-executive directors are Liz Barclay, a national journalist and broadcaster and ambassador for the Money Advice Trust, Jayne Nickalls, former chief executive of Directgov, and David Weymouth, former chief information officer at Barclays and currently a member of RSA’s group executive committee.

Lord Turner, chairman of the FSA, says: “We are pleased that Barclay, Nickalls and Weymouth have been appointed to the FSCS Board as non-executive directors.  

“They bring with them valuable experience in their fields which will greatly benefit the FSCS.”

David Hall, chairman of the FSCS, adds: “They have outstanding experience in financial services and consumer issues that is highly relevant to our work and will help us tremendously as we continue developing the FSCS.

“They are a great addition to a team that includes significant depth and expertise. We look forward them joining us.”

The announcement comes after Sandy Kinney, Chris Woodburn and Terry Connor completed their terms on the FSCS Board.

Hall says the three played a major role in shaping the scheme and the handling of the bank failures and he is grateful to them for their contribution to financial services and the FSCS.  

Recommended

FSA is right when it says underwriters have no experience

The FSA finally got something right last week when it criticised lenders’ underwriters for being overstretched and underqualified. As a broker who has worked at a major bank and as an underwriter, I know many underwriters and all they say confirms they have little experience. They are just taught to complete a checklist. This is […]

Customer benefits may not be so good for shareholders

The regulator must understand every action it takes has consequences. If a lender lets a borrower off a few payments, or changes the terms of the loan to one that makes it more risky for the lender, that is all fine and dandy for the borrower. But isn’t it ruining shareholder value, a group that […]

Mark Blackwell

Hacker puts focus on security hazards

Hacking group LulzSec has ensured data security has been in the news recently with its raids on global giants Sony and Nintendo. “From a single injection, we accessed everything,” the hacking group was quoted as saying. They seemed aghast to find customers rely on such flimsy security and this begs the question: why do we […]

Newsletter

News and expert analysis straight to your inbox

Sign up