FSA determined to stamp out financial fraud

Enforcement director says regulator will not flinch from using criminal prosecutions

The UK Financial Services Authority (FSA) is determined to stamp out fraud and abuse, and will use all its powers to “clean up” the UK’s financial markets, said Margaret Cole, director of enforcement at the FSA, in a speech at the Fraud Advisory Panel’s annual general meeting on Tuesday.

“We are committed to using all our tools, our powers and resources to fight fraud in the UK,” she said. That means using not only the FSA’s regulatory powers but also its capacity to prosecute offenders.

Cole said

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