Cole: FCA will be more interventionist than FSA


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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