Margaret Cole becomes managing director of enforcement and financial crime
The Treasury has shaken up the FSA board by promoting Margaret Cole to managing director of enforcement and financial crime.
Financial secretary to the Treasury, Mark Hoban, who this morning announced the appointment of Cole, said: "I welcome the appointment of Margaret Cole to the FSA board. Her credentials mean that she will bring valuable insight and experience to enhance further the strength of the FSA board."
Cole, who was formerly FSA director of enforcement and financial crime, joined the FSA in 2005.
She has led the FSA’s drive to deliver its credible deterrence strategy, which last year led to three criminal convictions for insider dealing, 102 fines and prohibitions, with fines levied totalling £33.6m.
FSA chairman, Adair Turner, 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.”
FSA chief executive, Hector Sants, 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.”