Margaret Cole is to leave the Financial Services Authority this year after almost seven years with the regulator.

Ms Cole currently works as managing director of the Conduct of Business unit and is on the FSA Board.

Previously she worked as director of enforcement from July 2005 to September 2010, then as managing director of enforcement and financial crime until April 2011.

Within her role at the Conduct of Business unit, she has led work in establishing the set-up of the Financial Conduct Authority, the new regulator which will take over much of the FSA’s work next year.

Ms Cole said: “I joined the FSA to help with the fight against wrongdoing within the financial services industry and I believe a lot has been achieved in my time here.

“It has been a challenging but rewarding few years and I believe, with the help of a team of quality people, I have created a successful enforcement platform to take into the UK’s new regulatory authorities.”

Hector Sants, chief executive of the FSA, said: “Margaret has been pivotal in transforming the FSA’s approach to enforcement and she leaves a substantial legacy, widely respected in legal, regulatory and international circles.

“She has been a strong leader and advocate of the importance of delivering a credible deterrent to those that attempt to commit wrongdoing, as well as being an invaluable member of my executive team.”

Ms Cole will remain at the FSA until the end of March prior to the ‘twin peaks’ system being implemented in April before going on gardening leave until the end of August.