FSA’s Cole to Depart; Helped Oversee UK’s Transition from ‘Light Touch’ to ‘Be Frightened’

During Cole’s seven years with the regulator, the FSA exhibited a notable shift in its approach enforcement. For many years, the FSA prided itself on its philosophy of “light touch,” principle-based regulation…. By 2009, however, the FSA, like the SEC, was under intense scrutiny stemming from the financial crisis, and decided it needed to make a dramatic change.

via FSA’s Cole to Depart; Helped Oversee UK’s Transition from ‘Light Touch’ to ‘Be Frightened’ – Compliance Week.