Correspondence within FCA regarding sandbox technologies

Mae'r cais yn aros am eglurhad. Os Mr J. Recard ydych chi, os gwelwch yn dda, mewngofnodi i anfon neges ddilynol.

Dear FOI officer,

Thank you very much for handling my FOI request.

May I please request email correspondence, reports, letters, and attachments that refer to "virtual sandbox", "digital sandbox", or "industry sandbox" technologies between May 2017 and April 2019.

If you'd like me to be more specific, please let me know and can liaise.

Many thanks for your help.

Yours faithfully,
Jim Recard

The Financial Conduct Authority

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The FCA (or, if this email originates from the Payment Systems Regulator Limited, the FCA on behalf of the Payment Systems Regulator Limited / the Payment Systems Regulator Limited) reserves the right to monitor all email communications for compliance with legal, regulatory and professional standards.

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The Financial Conduct Authority (FCA) is registered as a limited company in England and Wales No. 1920623. Registered office: 25 The North Colonnade, Canary Wharf, London E14 5HS, United Kingdom

The Payment Systems Regulator Limited is registered as a limited company in England and Wales No. 8970864. Registered office: 25 The North Colonnade, Canary Wharf, London E14 5HS, United Kingdom

Switchboard 020 7066 1000

Web Site http://www.fca.org.uk (FCA); http://www.psr.org.uk (the Payment Systems Regulator Limited)

Freedom of Information, The Financial Conduct Authority

1 Atodiad

Our ref: FOI6458

 

Dear Mr Recard

 

 

Freedom of Information: Right to know request

 

Thank you for your request under the Freedom of Information Act 2000 (“the
Act”) dated 8 May 2019 for the following information:

 

“May I please request email correspondence, reports, letters, and
attachments that refer to "virtual sandbox", "digital sandbox", or
"industry sandbox" technologies between May 2017 and April 2019.”

 

Your request as currently framed is too broad.  This is because it
captures all FCA staff and their records.

 

Extensive searches would have to be undertaken in order to meet the terms
of the request as currently framed.  This would include manually reviewing
various repositories across the FCA, including Outlook repositories for
all FCA staff.  We estimate that to carry out this exercise would exceed
the cost limit provided for in the Freedom of Information and Data
Protection (Appropriate Limit and Fees) Regulations 2004, therefore
Section 12 (Cost of compliance exceeds appropriate limit) of the Act
applies.  For a detailed explanation as to why this exemption applies,
please refer to Annex A.

                                                                      

Please note that in reaching the conclusion that your request exceeds the
appropriate cost limit, we have not considered whether any other
exemptions under the Act apply.

 

When we refuse a request because the ‘appropriate limit’ has been
exceeded, it is our general policy to provide advice and assistance to the
applicant to indicate how the request could be refined or limited to come
within the cost limit. To this end, we may be able to consider the above
request refined to the business area within the FCA most likely to hold
this information.  If you wish us to proceed with this refinement, please
can you confirm in writing.

 

If you are unhappy with the decision made in relation to your request, you
have the right to request an internal review. If you wish to exercise this
right you should contact us within 40 working days of the date of this
response.

 

If you are not content with the outcome of the internal review, you also
have a right of appeal to the Information Commissioner at: Information
Commissioner's Office, Wycliffe House, Water Lane, Wilmslow, Cheshire, SK9
5AF. Telephone: 01625 545 700.  Website: [1]www.ico.org.uk

 

Yours sincerely

 

Information Disclosure Team

 

 

Annex A

 

• Section 12 (Costs of compliance exceeds appropriate limit)

 

The Act requires us to comply with a request, unless it would be too
expensive to do so, as estimated in accordance with the Freedom of
Information and Data Protection (Appropriate Limit and Fees) Regulations
2004 (“the Regulations”) made by the Ministry of Justice. The Regulations
provide that, for the FCA, the cost limit is £450, i.e. 18 hours at the
rate of £25 per person hour. The Regulations allow us to take into
account, when estimating the cost of complying with a request, time spent
determining whether we hold the information requested, locating and
retrieving it and extracting the information from the relevant
document(s).

 

As explained above, in order to identify whether information is held would
require various repositories of our records to be manually reviewed,
including Outlook repositories for all FCA staff. This exercise, we
believe, would take well in excess of 18 hours.  On that basis, we
estimate that the cost of retrieving the information you have requested
would far exceed the £450 limit.

 

On that basis, we estimate that the cost of complying with your request
would far exceed the £450 limit.

 

This communication and any attachments may contain personal information.
For more information about how and why we use personal information and who
to contact with any queries about this, please see our privacy notices:
FCA Privacy Notice (https://www.fca.org.uk/data-protection) and PSR
Privacy Notice
(https://www.psr.org.uk/cookies-privacy-a...).

This communication and any attachments contain information which is
confidential and may be subject to legal privilege. It is for intended
recipients only. If you are not the intended recipient you must not copy,
distribute, publish, rely on or otherwise use it without our consent. Some
of our communications may contain confidential information which it could
be a criminal offence for you to disclose or use without authority. If you
have received this email in error please notify [email address]
immediately and delete the email from your computer. Further information
on the classification and handling of FCA information can be found on the
FCA website
(http://www.fca.org.uk/site-info/legal/fc...).

The FCA (or, if this email originates from the Payment Systems Regulator
Limited, the FCA on behalf of the Payment Systems Regulator Limited / the
Payment Systems Regulator Limited) reserves the right to monitor all email
communications for compliance with legal, regulatory and professional
standards.

This email is not intended to nor should it be taken to create any legal
relations or contractual relationships. This email has originated from the
Financial Conduct Authority (FCA), or the Payment Systems Regulator
Limited.

The Financial Conduct Authority (FCA) is registered as a limited company
in England and Wales No. 1920623. Registered office: 12 Endeavour Square,
Stratford, London, E20 1JN, United Kingdom

The Payment Systems Regulator Limited is registered as a limited company
in England and Wales No. 8970864. Registered office: 12 Endeavour Square,
Stratford, London, E20 1JN, United Kingdom

Switchboard 020 7066 1000

Web Site http://www.fca.org.uk (FCA); http://www.psr.org.uk (the Payment
Systems Regulator Limited)

References

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1. http://www.ico.org.uk/