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FSA’s Cole to step down

The Financial Services Authority’s (FSA’s) interim managing director, Conduct Business Unit, Margaret Cole, is to step down later this year.

Ms Cole joined the regulator in 2005 as director of enforcement.

Managing a division of 450 people, she has responsibility for enforcement policy, intelligence gathering, forensic investigations, and civil and criminal proceedings, in areas that include market abuse and financial crime.

According to Ms Cole, the next 12 months will see more trials and more convictions as the pipeline of FSA cases comes to fruition in the courts.

Commenting on her departure, FSA chief executive, Hector Sants, says: “Margaret has been pivotal in transforming the FSA’s approach to enforcement and she leaves a substantial legacy, widely respected in legal, regulatory and international circles.”

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