FSA Icon Steps Down

Margaret Cole, a senior FSA executive is to step down “to seek fresh challenges”.

Ms. Cole joined the FSA in 2005 having practised as a lawyer for 20 years. She led the enforcement division as it developed its strategy of credible deterrence focusing on insider trading and market abuse and hitting banks for client money transgressions.

Her last position was to lead the conduct business unit which will become the Financial Conduct Authority.

Ms. Cole is thought to have lost out in the battle to lead this new regulator whose first CEO will be Martin Wheatley.

It will be interesting to see if any other key figures depart from the FSA as it splits itself into two regulators.