He succeeds Donald Brydon, who stands down and assumes the post of Deputy Chairman for one year. The Practitioner Panel is established under the Financial Services and Markets Act 2000 to represent the broad spectrum of regulated firms and the interests of practitioners generally.
Mr Bloomer said:
“Firstly, I would like to thank Donald Brydon for his considerable efforts in helping to ensure that the Panel served as an influential and authoritative voice for the regulated community, and provided an effective channel of communication at a senior level with the FSA. I am pleased to accept the important responsibilities that this role brings, and aim to maintain and build upon Donald’s period of strong and enthusiastic leadership. Many challenges lie ahead. In particular, it is important that the industry has confidence in the FSA to deliver an efficient and effective regime, and I believe that the Panel has a lot to offer in this regard. I therefore intend to forge firm links with the new FSA Chairman and Chief Executive so that the Panel and the regulator can continue to enjoy a suitably open and constructive relationship.”
FSA Chairman, Callum McCarthy said,
"I would like to thank Donald Brydon for his major contribution for sustaining the Panel as a highly authoritative and effective body over the last two years. Jonathan Bloomer, who has been a Panel member for the last two years, is admirably qualified to take over. The FSA looks forward to continuing to benefit from the Panel's input as we move into the crucial next phase of regulatory development including establishing the new regime for mortgage and general insurance firms and implementing the Financial Services Action Plan. The Panel plays an important role in the FSA's accountability procedures which are an essential part of the organisation’s legitimacy."
