Margaret Cole, the new head of enforcement at the U.K.'s Financial Services Authority, says she means business when indicating the regulator will get tougher, penalty wise, on companies and individuals that violate agency rules. Financial Times reports that Cole made her comments after the FSA was criticized for the way it handled recent cases and upon learning that many companies view the current level of fines as mere the "cost of doing business". Cole, at a speech before the Securities and Investment Institute's Compliance Forum, also indicated that companies that made a good-faith effort in handling individual violators could see a reduction in penalties.