Relevant information for intermediaries needs to be trawled from a wide range of institutions and this week’s edition is a prime example with information from not only the FSA but also CML, FOS (2), ABI (2), the Treasury and the ICO (3).

The FSA information is with a rash of enforcement issues but one of particular interest to Directors is the first article on page 1. All Directors must keep themselves well informed, not only for their particular area of responsibility but also all the firm’s activities as a whole. This article is a salutary lesson for us all.

The Council of Mortgage Lenders’ (CML) article on page 3 is relatively good news so worth a read and the following Financial Ombudsman Service (FOS) piece with the case studies is extremely interesting and a relatively light read which may even bring a smile.

Page 6, second article, is interesting for firms that offer any form of credit to their clients and the second article from the Information Commissioner (ICO) page 7 is a ‘must read’ for all firms. We all hold client sensitive information and the Commissioner has had his enforcement powers enhanced and can now impose penalties up to £500,000 but we are assured that the Commissioner will be ‘pragmatic and proportionate’. We’ve all heard that before. The 3rd ICO article on page 8 is along the same theme but a very relevant case study of which all staff should be made aware.

If we can be of further service with these or any other regulatory matters please remember your helpline 08456 12 12 11 for a without obligation conversation or email admin@ifact.co.uk.

Kind regards

John Derry-Collins
FInst SM AMITD Fcol MInstD MIoD
Director
IFAct Services Ltd
Tel. No. 08456 121 211

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