The International Financial Consumer Protection Organization (FinCoNet), the global umbrella group for consumer financial protection authorities, has named Lucie Tedesco, commissioner of the Financial Consumer Agency of Canada (FCAC), as its next chairwoman.

Tedesco, who has been vice chairwoman of FinCoNet since 2013, was appointed to a three-year term at the organization’s annual general meeting in Jakarta earlier this month.

FinCoNet represents government agencies and other organizations from more than 60 countries, serving as a forum for research, discussion and promoting supervisory standards and practices.

“The complexity and variety of financial products and services available to consumers are growing at a rapid rate. It is more important than ever that regulators share experiences and keep each other informed of emerging trends,” says Tedesco in a statement. “As FinCoNet chair, I will work with my counterparts around the world to ensure consumers are protected at the same time as they benefit from innovation and flexibility in financial services.”

FinCoNet also announced that Maria Lucia Leitão, head of banking conduct supervision at the Banco de Portugal, will take over as vice chairwoman.

“The need for supervisory authorities to work together to help protect the interests of consumers has never been greater,” said Tedesco at FinCoNet’s AGM. “I look forward to leading FinCoNet through this important period and to bringing my experience as commissioner of the FCAC to help deliver on our consumer protection agenda.”

Photo copyright: FinCoNet/CNW