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FSA’s Cole Wants Stiffer Penalties for Insider Dealing, FT Says

May 16 (Bloomberg) -- U.K. Financial Services Authority Business Conduct Unit’s Interim Head, Margaret Cole asked the government to increase the maximum sentence for dealing from 7 years to 10 years, the Financial Times reported, citing an interview. “A longer sentence is important because a lot of enforcement work is about sending messages that this is serious,” Cole said, according to the FT.

To contact the reporter on this story: Blanche Gatt in London at bgatt@bloomberg.net

To contact the editor responsible for this story: Colin Keatinge at ckeatinge@bloomberg.net.

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