The Financial Services Authority created its own email security breach on Friday as it revealed confidential details of around 100 financial intermediaries.
Information obtained by IFAonline reveals the FSA sent out a reminder email to around 100 firms, who have registered for mortgage authorisation but have yet to send FSA officials the necessary paperwork to ensure they can continue trading from M-Day or October 31st.
However, a mistake was made somewhere along the chain of sending out that email and a breach of confidentiality was inadvertently created when an FSA official failed to hide individuals’ names under the “BCC” address list, so the personal details of around 100 firms were revealed to all those on the list.
Advisers who received the email and note their details were revealed to other firms have reacted angrily to the error and accused the FSA of being unable to effectively regulate the mortgage market when it cannot even send out an email without maintaining confidentiality.
Robin Gordon-Walker, spokesman for the FSA confirmed the FSA did make an error and pointed out “it shouldn’t have happened but very quickly came to the FSA’s attention”.
As soon as the mistake was noted, the FSA recalled all emails, says Gordon-Walker, and a new message was issued, revealing only the details of the firm to the person listed.IFAonline
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