Enforcement boss to take charge of new FSA unit
The FSA's director of enforcement Margaret Cole is to temporarily head the Financial Conduct Authority – one of two new regulatory bodies to be formed in April.
Details of Cole's role emerged when the FSA unveiled its 2011/12 business plan yesterday.
Cole will become managing director of the conduct division until September, before handing over responsibilities to new regulator Martin Wheatley, formerly of the Hong Kong regulator.
The FSA is splitting into the Prudential Regulatory Authority and the Financial Conduct Authority in April.
The FCA is expected to have about 3,000 staff and its functions include regulating insurance brokers.
Crrent FSA chief executive Hector Sants will head of the PRA, which will report to the Bank of England.
For more, read At-a-glance guide: The new financial regulation framework.
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