Amerdeep Somal has been appointed as complaints commissioner for The Financial Conduct Authority, the Prudential Regulation Authority and the Bank of England.
The commissioner oversees the final stage of investigations into complaints against the three financial regulators and the role is independent from these organisations.
Somal will replace current commissioner Antony Townsend on November 1, serving an initial term of three years.
Before taking up the role, Somal will step down from positions as the independent assessor of the Financial Ombudsman Service, a council member on the General Medical Council, and as a senior independent panel member for public appointments at the Cabinet Office.
She will retain her positions as a judge of the Asylum and Immigration Tribunal and as chief commissioner at the Data and Marketing Commission.
The FCA, PRA and the Bank last month launched a joint consultation on the Financial Regulators’ Complaints Scheme.
FCA interim chief executive Christopher Woolard says: “Independent scrutiny is vital to the transparency and standards of the UK regulatory system.
“We are pleased to see Amerdeep appointed to the role of complaints commissioner and we look forward to working with her.
“We would also like to thank Antony Townsend for his dedication and commitment over the last six years.”
Bank of England deputy governor and PRA chief executive Sam Woods: “The role of complaints commissioner is key to upholding a fair regulatory system and making sure we improve our effectiveness through time.
“I would like to congratulate Amerdeep on her appointment, and look forward to working with her in the future.”
Somal adds: “The complaints commissioner plays a critical role – not only in providing people who are unhappy with the financial regulators with recourse to an independent review but also in helping them focus more widely on where they could improve the experience of all their customers.
“I will ensure these important institutions are held accountable and open to rigorous scrutiny.”
