ICO fines insurance company £150,000 for failure to keep customers’ information safe
Royal & Sun Alliance has been fined by the Information Commissioner’s Office following the theft of nearly 60,000 customers’ information. Peter Barratt reports.
All Articles in Financial services
ABI and BIBA publish vulnerable consumer code
Following concerns as to whether advantage was being taken of vulnerable consumers, the two leading UK insurance industry bodies have published a new Code of Practice on the treatment of vulnerable consumers on policy renewal. Chloe Dumoulin-Richet reports.
FCA to examine big data and insurance
Pricing and risk profiling are just two of the areas potentially impacted by use of big data in connection with retail general insurance products such as motor and home insurance. Georgina Graham reports on the Financial Conduct Authority’s new investigation.
Are you ready for ambush marketing?
Help Direct warned by ICO over spam texts
Following a fine for non-registration with ICO as a data controller, financial services call centre Help Direct UK were warned by ICO over numerous spam texts offering reviews of recipients’ pension arrangements. Barney Sich reports on ICO’s action.
FCA publishes social media guidance
Following consultation on a draft, the UK financial services watchdog has published the final version of its guidance on “Social media and Customer Communications.” Sadie Alo reports on the key takeaways for the financial promotions sector.
Online travel insurer Staysure.co.uk fined £175,000 for data lapse
Following an attack by hackers, three million customer records were put at risk and details of 5,000 payment cards were compromised. Had PCIDSS rules for processing credit card data been adhered to? Chloe Deng reports on the ICO’s findings.
FCA and ASA publish Memorandum of Understanding
Misleading financial promotions can fall within the remit of both the Financial Conduct Authority and the Advertising Standards Authority. This MoU provides a framework for co-operation and co-ordination between the two bodies. Sadie Alo reports.
Were Smart Alex and Alex trade marks confusing?
Alexander House Financial Services applied to register SMART ALEX for financial services. BinckBank N.V. challenged as they had registered ALEX for a wide variety of services in the same class. Could BinckBank knock back Alexander House’s application? Varuni Paranavitane reports.
Redress for Sureterm Direct insurance mis-selling leads to Capita/Andrew Wood indemnity battle
French authorities block UK operated financial services sites
FCA warning: we will take action against consumer credit ad compliance failings
