Rachel Kent, a accomplice at monetary companies regulation agency Hogan Lovells, has been appointed because the monetary regulators complaints commissioner.
Kent will start a five-year time period within the function on 1 January 2024, taking up from present commissioner Amerdeep Somal.
Kent’s appointment marks the primary time that the Treasury has appointed the commissioner. Beforehand, the function was crammed by the monetary companies regulators.
“I’m happy to have been appointed to this necessary function which supplies vital impartial oversight of how the monetary companies regulators perform, or fail to hold out, their features,” mentioned Kent.
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“The monetary companies regulators have a big impression on tens of millions of shoppers and companies and it’s important that they’re topic to efficient scrutiny.
“I look ahead to working with the regulators to make sure that complaints are dealt with effectively and that there’s transparency round how they function.”
Kent is an skilled monetary companies lawyer and a accomplice on the monetary companies regulatory group at regulation agency Hogan Lovells. Earlier this yr, she was made chair of the impartial Funding Analysis Assessment launched by the federal government. She additionally acted as vice-chair of the coverage and regulation chapter of Ron Kalifa’s FinTech Strategic Assessment.
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“I’m delighted to announce that Rachel Kent has been appointed because the monetary regulators complaints commissioner,” mentioned Bim Afolami, financial secretary to the Treasury.
“This function is prime in guaranteeing that the regulators are accountable for his or her actions and that complaints made about them are independently investigated.
“Rachel brings a wealth of expertise and knowledgeable information of economic companies regulation to this function. I’m assured that she’s going to present sturdy and impartial scrutiny of the way in which the monetary companies regulators have carried out their roles.”
The monetary regulators complaints commissioner is chargeable for independently reviewing complaints in regards to the UK’s monetary companies regulators and the Financial institution of England. They’ve the facility to make suggestions to the regulators and encourage applicable cures.
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