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View the article online at http://citywire.co.uk/wealth-manager/article/a761239

FOI requests cost FCA £853k in 2013/14

by James Phillipps on Jul 10, 2014 at 12:10

FOI requests cost FCA £853k in 2013/14

The Financial Conduct Authority (FCA) received 748 Freedom of Information (FOI) requests in its last accounting year, which cost the regulator £853,000 to process.

In its annual report, released today, the FCA said it closed 445 of these requests, or 87%, by the statutory deadline, disclosing material 50% of the time.

The 748 requests marked a 3% increase from 2012/2013 and consumers were the largest source, submitting 164. Financial advisers submitted 54 requests, legal advisers made 70, the media 87 and MPS made two.

The most frequent topics included information about complaints, mortgages, the Co-Operative Bank, whistleblowing and Keydata, the FCA said.

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