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FSA report on data security in financial services urges firms to change attitude to data security

  • Shepherd & Wedderburn LLP
  • -
  • United Kingdom
  • -
  • June 11 2008

On the back of a number of recent high profile news stories in both the public and private sectors about data security, the FSA issued a report on 24 April urging regulated firms to change their attitude to data security and to do more to help prevent their customers falling victim to financial crime

Data security breaches: more penalties

  • Shepherd & Wedderburn LLP
  • -
  • United Kingdom
  • -
  • July 27 2009

The Financial Services Authority (FSA) has imposed its heaviest fine to date in relation to data security failures by a financial organisation

Data retention: three issues for attention

  • Shepherd & Wedderburn LLP
  • -
  • United Kingdom
  • -
  • April 1 2009

Issues around retention of communications and on-line data have been receiving much attention in recent weeks with the UK government finalising new data retention regulations, the coming into force of new data retention requirements for certain Financial Services Authority (FSA) authorised businesses and privacy concerns over Facebook seeking to amend its user terms

FSA has powers to deal with data security breaches

  • Shepherd & Wedderburn LLP
  • -
  • United Kingdom
  • -
  • June 20 2007

In February the Financial Services Authority (FSA) issued a Final Notice to Nationwide Building Society (Nationwide) regarding enforcement action taken in relation to a data security breach

Financial services industry receives another privacy warning

  • Shepherd & Wedderburn LLP
  • -
  • United Kingdom
  • -
  • June 20 2007

On Tuesday 13 March the financial services industry received another warning to take data protection compliance seriously 11 banks and other financial institutions were publicly named and shamed for failures to adequately protect the personal data of their customers