The Financial Services Authority (FSA) is to increase the firepower of its enforcement division by hiring several lawyers from leading City firms, The Times has learnt.
The recruits will boost the watchdog's fight against insider dealing, with more than 80 staff dedicated to investigating so-called wholesale cases that involve financial institutions and their employees.
Although the lawyers' identities are not known, Margaret Cole, head of enforcement at the FSA, said that she had been allocated funding to increase manpower this year and had recently made some specialist hires.
“We're about to announce some people from really good places,” she said.
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