FSA overhauls its internal structure

The Financial Services Authority is to overhaul its internal organisation later this year to take into account the growing responsibility of the body - including international regulatory engagement and consumer financial education.

Jon Pain, managing director of the FSA, will head up retail and wholesale supervision; Sally Dewar, the former MD of wholesale, will assume responsibility for risk management and identification while Margaret Cole, currently head of enforcement will manage the merged financial crime and enforcement office The Financial Times reported.

Hector Sants, chief executive FSA, said: 'The actions we have taken since the crisis began have shown the effectiveness of this model. This reorganisation will ensure our changing working practices and the way we make our judgements are successfully institutionalised.'

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