The Bank of England (BoE) and Financial Conduct Authority (FCA) have appointed Antony Townsend as Complaints Commissioner, replacing Sir Anthony Holland whose term of office ends this month after almost a decade.
Appointed in 2004 for a three-year term, Holland was the first financial services Complaints Commissioner. He has since been re-appointed twice, in 2007 and 2010.
The role of Complaints Commissioner, which is independent of the Bank and FCA, was created by the Financial Services and Markets Act 2000 to provide an independent means by which the regulated community could have an independent adjudication on complaints against the then-Financial Services Authority (FSA).
The FSA was split into two regulatory bodies - the FCA and the Prudential Regulatory Authority - in April last year.
Holland has been critical of the regulator in the past. In his annual report, published in July last year, Holland suggested the FSA did not always provide it with access to the documentation it needed to carry out its function.
Townsend, who begins his role on 1 May, was the first CEO of the Solicitors Regulation Authority, and is currently Chair of the UK and Ireland Regulatory Board of the Royal Institution of Chartered Surveyors.
FCA chief executive Martin Wheatley said: "The role of the Commissioner is an important one and I welcome Antony to the role. I look forward to working with the new Commissioner going forward to ensure that the system works for those who feel they have been treated unfairly by the regulators."
Antony Townsend added: "I'm delighted to be taking up this role. It is essential that people can have confidence in how the regulation of financial services is undertaken. I want to continue the work of Sir Anthony Holland in ensuring and demonstrating that serious complaints are fully investigated and a fair outcome achieved."
