Reference Case Number: FOI11415
Freedom of Information: Right to know request:
How many occasions and the amount per year (over the last 5 years), have external consultants/consultancies reported a material breach on their client to the FCA, relating to safeguarding client funds under the PSRs or EMRs.
FCA response:
Please note that the numbers below are derived from notifications the FCA has received from its [email protected] mailbox – which on our website is how auditors are instructed to report certain information to the regulator. The FCA can receive notifications about safeguarding breaches in a number of ways, for example, from auditors who complete annual financial statement audits or notifications directly from the firms, neither of these methods have been included in the numbers below.
Please also note that the way we record this data on our systems has changed over the years. Consequently, there may be discrepancies between the numbers below and other relevant data previously provided.
| Year | Number of notifications |
|---|---|
| 2020 | 0 |
| 2021 | 0 |
| 2022 | 1 |
| 2023 | 5 |
| 2024 | 1 |
| Total | 7 |