FSA overhauls its internal structure
Internal reorganisation of FSA sees the body ready itself for international responsibility
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
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.’