Investors in collapsed investment schemes, including former peer-to-peer property platform Lendy, have urged the government to give them a say on who is hired to lead the City regulator.
Representatives of investors in Lendy, mini-bond issuer London Capital & Finance and collective investment scheme Connaught, have teamed up with Whistleblowers UK, which campaigns for better treatment of those who report misconduct in the City, according to a report in The Times.
The group has penned a joint letter to the new Chancellor of the Exchequer Rishi Sunak.
The Treasury is set to name the new boss of the Financial Conduct Authority (FCA), as chief executive Andrew Bailey is leaving to become governor of the Bank of England next month.
Mark Bishop from Connaught Action Group, who co-ordinated the letter, said that the combined group represented more than 20,000 people.
The group said that confidence in the FCA is at its lowest since the financial crisis.
The Treasury was approached for comment and the FCA declined to comment.