Hogan Lovells’ Rachel Kent named regulatory complaints commissioner
Rachel Kent, a partner at financial services law firm Hogan Lovells, has been appointed as the financial regulators complaints commissioner.
Kent will commence a five-year term in the role on 1 January 2024, taking over from current commissioner Amerdeep Somal.
Kent’s appointment marks the first time that the Treasury has appointed the commissioner. Previously, the role was filled by the financial services regulators.
“I am pleased to have been appointed to this important role which provides critical independent oversight of how the financial services regulators carry out, or fail to carry out, their functions,” said Kent.
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“The financial services regulators have a significant impact on millions of consumers and firms and it is important that they are subject to effective scrutiny.
“I look forward to working with the regulators to ensure that complaints are handled efficiently and that there is transparency around how they operate.”
Kent is an experienced financial services lawyer and a partner at the financial services regulatory team at law firm Hogan Lovells. Earlier this year, she was made chair of the independent Investment Research Review launched by the government. She also acted as vice-chair of the policy and regulation chapter of Ron Kalifa’s FinTech Strategic Review.
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“I am delighted to announce that Rachel Kent has been appointed as the financial regulators complaints commissioner,” said Bim Afolami, economic secretary to the Treasury.
“This role is fundamental in ensuring that the regulators are accountable for their actions and that complaints made about them are independently investigated.
“Rachel brings a wealth of experience and expert knowledge of financial services regulation to this role. I am confident that she will provide robust and independent scrutiny of the way the financial services regulators have carried out their roles.”
The financial regulators complaints commissioner is responsible for independently reviewing complaints about the UK’s financial services regulators and the Bank of England. They have the power to make recommendations to the regulators and encourage appropriate remedies.
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