The Financial Services Authority has announced that Margaret Cole, managing director and board member, will leave the organization later this year, after having served for nearly 7 years.

Cole will remain in her current position and on the board until the end of March.

She joined the organization as director of enforcement in July 2005, following 20 years in private practice, specializing in commercial litigation. She had responsibility for enforcement policy, intelligence gathering, forensic investigations, and civil and criminal proceedings in the areas of abuse and financial crime.

Cole was appointed to the board as managing director of enforcement and financial crime in September 2010. In April 2011, she became the first managing director of the conduct business unit, which will become the Financial Conduct Authority under the new regulatory structure.