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Board member to leave in FSA shake-up

16th February 2012

There is to be upheaval at the Financial Services Authority soon, as Managing Director Margaret Cole has announced that she will shortly be stepping down from her role. In a statement, she revealed plans to leave the organisation at the end of March after nearly seven years of involvement.

Cole was bullish when summarising her time at the FSA, citing her pride in the number of difficult cases that had resulted in prosecution and imprisonment during her tenure.

A former commercial litigator for multinational firm White & Case, Cole joined the FSA in 2005 as Director of Enforcement before later progressing to board level and Managing Director of the Conduct Business Unit – widely seen as one of the most important legal jobs in the country.

The announcement will signal further change at the Financial Services Authority, which is already in the process of preparing to be split into two separate bodies in April. Cole will apparently take gardening leave up to 31st August, but it remains to be seen whether she will return to the private sector.