Cole: FCA will be more interventionist than FSA

Jessica Meek
22 Jun 2011

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The UK's planned Financial Conduct Authority (FCA) will be "a much more interventionist and proactive regulator" than the Financial Services Authority (FSA), according to a senior FSA regulator. Margaret Cole, interim managing director of the FSA's conduct business unit, which will form the core of the new FCA, said a change in culture within the regulatory bodies would allow for a much wider use of regulatory powers after the transition, due to take place over the next two years.

"There will be

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