Data Protection

Under the Data Protection Act all firms have a duty to abide by the Act. This includes holding information about a client and ensuring that this information is not disclosed to third parties (including other companies within the same group) without prior consent from the client.

The consequences of failing to comply with the Act can be severe. Any breach whether deliberate, accidental or unknowing when entering data can lead to enforcement action, prosecution or a fine and may call into doubt whether you are ‘fit and proper’ for the purposes of the Financial Conduct Authority. Unlimited fines in the Crown Court can also be levied not only on the firm in breach, but also on the Directors, Managers and Officers.

This section includes information on the DPA and how you register in an easy to use guide.