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data on uk regulated firms lost by regulator

28 Oct 13

Data on UK-regulated firms has gone missing because Financial Conduct Authority staff have been victims of crime, the regulator has revealed.

Data on UK-regulated firms has gone missing because Financial Conduct Authority staff have been victims of crime, the regulator has revealed.

On one occasion, the information lost was linked to a recent investigation, it was confirmed, after the City watchdog released information about the data it had lost over the last five years.

The FCA said that over six occasions, close to 20 paper documents had gone missing, adding that each time the records were stolen from members of staff rather than being mislaid by the regulator.

“In all of the instances, the members of staff were victims of crime with bags being stolen in public places,” an FCA spokesman said.

“In one instance the lost information did relate to a recent investigation. The firm was notified of the loss in accordance with our procedures.”

According to the FCA’s security guidelines, the information the regulator holds is split into three categories according to its sensitivity. Information deemed “restricted” would “cause embarrassment” to the FCA or a regulated firm or person if it got into public hands, but the watchdog said that none of information lost was “particularly sensitive”.

 

Tags: FCA

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