MPs slam FCA's 'draconian and opaque' email deletion plans

Policy said to present 'inevitable, illogical and irrational risks'

Linus Uhlig
clock • 2 min read

Leaked plans from the Financial Conduct Authority to automatically delete employees’ emails after 12 months would threaten the transparency and accountability of the financial regulator, an All-Party Parliamentary Group (APPG) has warned.

In a letter from the APPG on Investment Fraud and Fairer Financial Services to the chair of the Treasury Committee Meg Hillier, the group of cross-party MPs said "the FCA's planned automatic deletion of emails presents inevitable, illogical and irrational risks to its performance and accountability".  The politicians added they "cannot think of any other statutory body that employs such a Draconian and opaque policy in respect of its email correspondence", and that the proposed changes would "make the FCA a noticeable outlier, deviating from established good governance standards".  In...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Regulation

FCA considers softer SDR rules for index-tracking funds

FCA considers softer SDR rules for index-tracking funds

Amid ‘challenging’ requirements

Cristian Angeloni
clock 16 September 2025 • 1 min read
FCA: Consumer investment product disclosure system 'not working'

FCA: Consumer investment product disclosure system 'not working'

FCA rules are expected in late 2025

Michael Nelson
clock 11 September 2025 • 2 min read
FCA social media crackdown: Three 'finfluencers' make first court appearance

FCA social media crackdown: Three 'finfluencers' make first court appearance

Case brought as part of FCA-led global crackdown on illegal promotions

Jenna Brown
clock 10 September 2025 • 2 min read