Hi, the ICO and FSA consult each other about breaches by FSA regulated firms
and decide which of them is the best to pursue it - at the moment that
invariably means the FSA, as in comparison to the ICO it has very big teeth!
FSA and the ICO have confirmed that there'll be no "double jeopardy" for
financial services firms when the ICO finally gets its fining powers.
I suspect that because the FSA has a head start and has clearly indicated
that it will continue increasing fines for breaches for which it has already
taken enforcement action, it will continue to take the lead for some time
yet.
Chris
----- Original Message -----
From: "[log in to unmask]" [log in to unmask]
To: <[log in to unmask]>
Sent: Wednesday, July 22, 2009 12:37 PM
Subject: [data-protection] HSBC fined for data loss
see http://news.bbc.co.uk/1/hi/business/8162787.stm. What I find
interesting is that the FSA has imposed a hefty fine on HSBC. Has the IC
taken any action on the same matter? and what are the maximum fines it
could impose anyway?
Charles
Professor Charles Oppenheim
Head
Department of Information Science
Loughborough University
Loughborough
Leics LE11 3TU
Tel 01509-223065
Fax 01509 223053
e mail [log in to unmask]
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