The Financial Conduct Authority chairman, John Griffith-Jones, has announced the appointments of new chairs for the FCA’s independent Practitioner Panel and Markets Practitioner Panel.

The FCA Practitioner Panels are part of the system that the FCA set up to make and maintain effective arrangements for consulting practitioners on the extent to which its general policies and practices are consistent with its general duties, as set out in the Financial Services and Markets Act 2000 (as amended).

The panels are independent statutory bodies that represent the interests of the financial services industry within the UK’s regulatory framework. Panel members are recruited to represent both their own sector and the industry as a whole, rather than individual firm.

Anne Richards, chief executive of M&G, becomes chair of the FCA Practitioner Panel from 1 August 2017. She has been a member of the panel since 2013. She succeeds António Simões, chief executive officer of HSBC Bank.

John Trundle, chief executive officer of Euroclear UK & Ireland, becomes chair of the FCA Markets Practitioner Panel from 1 July. He has been a member of the panel since 2013 and succeeds Robert Mass, senior advisor in global compliance at Goldman Sachs.

Griffith-Jones said: “Both Anne and John appreciate the important role that the panels play in ensuring the regulator and financial services industry can have a dialogue that is both constructive and challenging.

“I am sure that they will continue the excellent work of their predecessors and I look forward to working with them both in their new roles.

“I would also like to thank António and Robert for their contribution to the work of the Panels as both members and chairs.”