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U.K. Treasury Names Cole to FSA Board as Enforcement Director

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Sept. 7 (Bloomberg) -- Margaret Cole, the head of enforcement at the U.K. Financial Services Authority, was appointed to its board as a managing director.

Cole joins FSA Chairman Adair Turner, Chief Executive Hector Sants and 13 others on the agency’s board. She will serve as managing director for enforcement and financial crime, U.K. Treasury minister Mark Hoban said in a statement today.

“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,” Sants said in a separate statement on the FSA’s website.

The U.K. government plans to abolish the FSA by 2012 to create a Prudential Regulatory Authority at the Bank of England and an independent consumer protection and markets agency. Part of the FSA’s enforcement powers may be transferred to a new economic crime agency, the coalition government has said.

To contact the reporter for this story: Lindsay Fortado in London at lfortado@bloomberg.net.

To contact the editor responsible for this story: Anthony Aarons at aaarons@bloomberg.net.

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