Margaret Cole has been appointed to the Financial Services Authority (FSA) Board as managing director of enforcement and financial crime. The announcement has been made by HM Treasury and takes effect from today, 7 September 2010.
Margaret Cole joined the FSA in 2005 following 20 years in private practice, specialising in commercial litigation. 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. She has led the FSA’s drive to deliver its credible deterrence strategy, which last year saw three criminal convictions for insider dealing, 102 fines and prohibitions, with fines levied totalling £33.6m.
Adair Turner, FSA chairman, said:
“Margaret brings a wealth of regulatory, legal and commercial experience. I am delighted to announce she is joining the FSA Board. Her credentials ensure that we further strengthen the breadth of knowledge, experience, insight and quality of judgement the Board provides.”
Hector Sants, FSA chief executive, said:
“Margaret has driven the FSA’s strategy of credible deterrence over the last three years, building the in-house expertise, intelligence gathering tactics and litigation specialism, used to ensure we achieve our statutory objectives in respect of protecting consumers, market integrity and financial crime. Her leadership and management skills have been critical to the strong progress we have made.”
