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City lawyer becomes FSA’s director of enforcement

The FSA has appointed City lawyer Margaret Cole as its new director of enforcement.

Cole, a 43-year-old partner in law firm White & Case, will take up the position in July.

She fills the gap left by the departure of previous director of enforcement Andrew Procter, who has joined Deutsche Bank.

Cole is expected to be fully involved in the FSA’s enforcement review, set up following recent criticisms of its handling of the Legal & General endowment case.

As a commercial dispute lawyer, she has particular experience in financial services litigation and insolvency matters.

She will head a team of 200 who conduct investigations into potentially significant regulatory failures by authorised firms or individuals.

FSA chief executive John Tiner says: “Margaret is one of the City’s most experienced and respected financial services litigators. I am delighted that she has agreed to lead this important element of the FSA’s operations.”

Cole says: “The FSA has a critical role to play in maintaining the standards which have made the UK the world’s leading international finan- cial centre. I am very much looking forward to joining the FSA and to working with the excellent team in the enforcement division.”


Cavanagh turnover doubles

Cavanagh Group has announced an operating loss of 2.5m in its final results for the year ending December 2004. This takes into account the acquisition of Ernst & Young Financial Management. Turnover more than doubled compared to 2003 reaching 10.4m.

Backwoodsmen of the PFS

I have just completed a four-year term as a director of Sofa. During my last year, I did privately voice my concerns that any merger between the LIA and Sofa may lead to a dilution of standards.

Can UK companies satisfy global appetites?

By Mark Martin, Manager of Neptune UK Mid Cap Fund

Rapid economic and income growth is leading to a dramatic shift in diet towards protein products right around the globe. UK companies such as Genus, the world’s largest livestock breeder, are benefiting from this increasing demand. Mark Martin, manager of the Neptune UK Mid Cap Fund, discusses this investment theme.


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