FSA strengthens enforcement with new appointment

07 September 2010 at 15:20

FSA strengthens enforcement with new appointment The Financial Services Authority (FSA) has announced that Margaret Cole has been appointed to the position of managing director of enforcement and financial crime at the regulator.

Ms Cole has served as director of enforcement for five years and been an outspoken critic of firms attempting to commit financial fraud, promising harsh penalties for those who fail to observe FSA compliancy.

She has also spearheaded the FSA's drive to deliver its credible deterrence strategy, which resulted in three criminal convictions for insider dealing and 102 fines and prohibitions totalling £33.6 million in 2009.

Commenting on the appointment, Lord Adair Turner, chairman of the watchdog, said Ms Cole will continue to prosecute those who fail to observe FSA compliance and set a deterrent.

"Margaret brings a wealth of regulatory, legal and commercial experience. Her credentials ensure that we further strengthen the breadth of knowledge, experience, insight and quality of judgement the board provides," he explained.

Posted by James Harrison ADNFCR-3006-ID-800055170-ADNFCR

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