Financial Times FT.com

FSA push to use criminal charges

By Brooke Masters, chief regulation correspondent

Published: September 11 2009 02:39 | Last updated: September 11 2009 02:39

The Financial Services Authority plans to use its criminal prosecution powers far more regularly as part of its drive to serve as a credible deterrent to financial crime, Margaret Cole, enforcement director, warned on Thursday.

Criminal charges are no longer the last option, Ms Cole told the annual meeting of the Fraud Advisory Panel charity just hours after the City regulator announced its first ever criminal prosecution of an executive for failing to notify authorities about a change in control at a regulated firm.

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