The appointments of Kay Blair, Stephen Crampton and Lindsey Rogerson take effect from 1 September 2006, while Michael Chapman and Jenny Hamilton will join the Panel on 1 January 2007.
The members fill existing vacancies and replace three members of the Panel who will be standing down over the next few months: Robert Skinner, who leaves in September when he becomes chief executive of the Banking Code Standards Board; and Harriet Hall and Paul Salvidge who leave in November and December respectively on completion of six years' service.
FSA chairman, Callum McCarthy said: "I am delighted that Kay, Stephen and Lindsey are joining the Panel and look forward to welcoming Michael and Jenny in January. They and the existing members will ensure that the Panel continues to provide a strong, independent consumer voice to the FSA.
"I would also like to thank Robert, Harriet and Paul for their dedication and commitment to the Panel during their time as members."