Cole leaves City regulator
ONE of the City’s top regulators will step down from her role next month, ahead of the Financial Services Authority’s planned split into two separate bodies.
Margaret Cole, who joined the City watchdog as head of enforcement in 2005, will leave at the end of March.
Having been appointed to the board in 2010, Cole was made managing director of the FSA’s newly established conduct business unit last year and has been instrumental in planning its transition to become the Financial Conduct Authority (FCA) – one of the new regulatory bodies.
But she has been markedly absent from future plans for the new body, with former Hong Kong regulatory boss Martin Wheatley named as head of the FCA early in 2011.
Cole did not say where she would move, but will be on hand to help the FSA with ongoing cases until August.
“I joined the FSA to help in the fight against wrongdoing within the financial services industry and I believe a lot has been achieved in my time here,” she said yesterday.