FCA to autodelete “unnecessary” staff emails after a year

First reported in the Financial Times, the news came from an intranet article from the regulator last week – which discussed how the new policy “reduces the legal and reputational risk we face”. 

Someone at the organisation told the news outlet that the move could affect Freedom of Information request and pose risks to the FCA carrying out its duties, as some enforcement cases can go on for a number of years.  
They went on to say: “This may also affect any potential future investigation into the FCA like that previously performed by Dame Gloster.  

“You will recall the chair of the FCA was recently investigated for forwarding emails received from whistleblowers. Additionally, the FCA was subject to requests for information in relation to de-banking via Subject Access Request.” 

A FCA spokesperson, however, to the Financial Times important emails will be kept. They explained: “This is about deleting unnecessary emails, which means we will be able to retrieve information more efficiently.  
“Any emails that should be retained to comply with regulatory and legal requirements, including the Freedom of Information act, will be saved.”  

Its understood the new policy aims to enhance record management and mitigate risks associated with prolonged email retention.

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