Dear The Financial Conduct Authority,

I refer to yesterday's Financial Times article regarding the various problems affecting the FCA:
"UK Financial Conduct Authority chief faces backlash over reforms"
"Nikhil Rathi is struggling with a staff revolt and perceptions of ‘chaos’ as he rebuilds the regulator"

A. The FT article refers to:
"A report published last week by the FCA’s Staff Consultative Committee (SCC) said 56 per cent of the 1,852 respondents claimed they were considering leaving the regulator because of the changes. Almost half the respondents said the proposals “would not support the FCA in meeting its regulatory objectives”.

Q1: PLEASE PROVIDE THE SCC REPORT AND/OR ALL RELEVANT DETAIL REGARDING HOW THE 56% MAJORITY RESPONDENTS ARTICULATED THEIR POSITION OF CONSIDERING LEAVING AND HOW THIS MAJORITY VOTE WAS TAKEN AND ALSO HOW IT WAS COMMUNICATED TO THE FCA.

Q2: PLEASE ADVISE HOW MANY PEOPLE THERE ARE IN THE SCC AND WHETHER THESE ARE FULL-TIME OR PART-TIME UNION ROLES OR, IF NEITHER OF THESE, EXACTLY WHAT THESE SCC ROLES ARE AND THE TERMS AND REQUIREMENTS OF THE SCC ROLES.

B. The FT article refers to:
“This is a deep and necessary culture change which takes time and may feel uncomfortable for some colleagues and stakeholders,” the FCA added.

Q3: PLEASE PROVIDE FULL DETAILS SETTING OUT ALL ELEMENTS OF THE CULTURE CHANGE INCLUDING THE SOURCE ANALYSIS AND HOW THE CULTURE CHANGE WAS COMMUNICATED TO STAFF AND STAKEHOLDERS AND ALL THE (ANONYMISED) RESPONSES RECEIVED FROM STAFF AND STAKEHOLDERS.

Yours faithfully,

Matthew Banwell

Freedom of Information, The Financial Conduct Authority

Thank you for e-mailing the Financial Conduct Authority's Information
Disclosure Team.

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your email safely.

Please do not reply to this email.

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This communication and any attachments contain information which is
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The FCA (or, if this email originates from the Payment Systems Regulator
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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)

Freedom of Information, The Financial Conduct Authority

3 Atodiad

Our ref:        FOI9054

 

Dear Mr Banwell

 

Freedom of Information: Right to know request

 

Thank you for your email of 21 February 2022, in which you asked for
information in relation to FCA backlash and staff strikes. Full details of
your request can be found in Annex A below.

 

We are processing your email as a request in line with the provisions of
the Freedom of Information Act 2000 (FOIA).

 

Please accept our apologies for contacting you at this later stage. It is
not clear from your email exactly what information you require for
question 3. Where you ask us to “provide full details setting out all
elements of the culture change including the source analysis” we are not
sure what recorded information you are asking for. Can you please set out
in more detail what exact information you require?

 

Please note that under guidance issued by the Ministry of Justice and the
Information Commissioner's Office entitled "Freedom of Information &
Environmental Information Regulations - Hints for practitioners handling
FOI and EIR requests", the following advice has been given with regard to
the clarification of requests:

 

"The day after the clarification is received by the public authority the
20 working day period begins" (page 14).

 

A copy of the Guidance can be found [1]here.

 

The 20 working day period will therefore commence once we have received
sufficient clarification to allow us to deal with your request.  If we do
not receive the further information we have asked you for within 40
working days of the date of this response, we will close this request.

 

Yours sincerely

 

 

Information Disclosure Team / Operations Division

[2]Description: cid:image001.png@01D2A7C9.64DDD390

12 Endeavour Square

London

E20 1JN

 

[3]www.fca.org.uk

 

Follow us:

 

[4]Description: https://g.twimg.com/Twitter_logo_blue.pn...
image003

 

 

 

Annex A

 

I refer to yesterday's Financial Times article regarding the various
problems affecting the FCA:

 

"UK Financial Conduct Authority chief faces backlash over reforms"

"Nikhil Rathi is struggling with a staff revolt and perceptions of 'chaos'
as he rebuilds the regulator"

 

A. The FT article refers to:

"A report published last week by the FCA's Staff Consultative Committee
(SCC) said 56 per cent of the 1,852 respondents claimed they were
considering leaving the regulator because of the changes. Almost half the
respondents said the proposals "would not support the FCA in meeting its
regulatory objectives".

 

Q1:  Please provide the SCC report and/or all relevant detail regarding
how the 56% majority respondents articulated their position of considering
leaving and how this majority vote was taken and also how it was
communicated to the FCA.

 

Q2:  Please advise how many people there are in the SCC and whether these
are full-time or part-time union roles or, if neither of these, exactly
what these SCC roles are and the terms and requirements of the SCC roles.

 

B. The FT article refers to:

"This is a deep and necessary culture change which takes time and may feel
uncomfortable for some colleagues and stakeholders," the FCA added.

 

Q3:  Please provide full details setting out all elements of the culture
change including the source analysis and how the culture change was
communicated to staff and stakeholders and all the (anonymised) responses
received from staff and stakeholders.

 

 

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

Visible links
1. https://assets.publishing.service.gov.uk...
3. http://www.fca.org.uk/
4. https://twitter.com/TheFCA
5. https://www.linkedin.com/company/financi...

Dear Freedom of Information,

FCA BACKLASH AND STRIKES

I am unhappy with your very poor service and the fact that it has taken you a full month to even ask for clarification.

Also, whilst you are asking for clarification on question 3, you have not provided the information requested relating to questions 1 and 2.

I'm sorry but this isn't acceptable. If something was unclear to you why did you not write when you received my request? In the circumstances, I will withdraw my question 3. This means that the due date for questions 1 and 2 remains today and you have failed to meet the due date as recorded by WhatDoTheyKnow.

For information, I have to say it is ridiculous that you do not understand the question 3 as it relates to the FCA's OWN QUOTE as reported in the FT, and is simply asking for the details and initial analysis. However, as noted I am withdrawing my question 3 due to your lack of understanding and I wish you to complete questions 1 and 2 FROM THE ORIGINAL SUBMISSION DATE ON WhatDoTheyKnow.

I will be raising a complaint about your inability to answer question 3 and the fact that it has taken you 20 working days to even ask for clarification.

Again, for the sake of clarity, you are expected to respond to questions 1 and 2 without further delay.

Thank you

Mr M Banwell

Freedom of Information, The Financial Conduct Authority

Thank you for e-mailing the Financial Conduct Authority's Information
Disclosure Team.

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your email safely.

Please do not reply to this email.

We will be in touch in due course.

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This communication and any attachments contain information which is
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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)

Freedom of Information Appeals, The Financial Conduct Authority

4 Atodiad

Our Ref: FOI9054

Dear Mr Banwell

Freedom of Information: Right to know request

I refer to your email received on 21 March 2022 about the Financial
Conduct Authority’s  (“the FCA”) handling of Q3 of your information
request under the Freedom of Information Act 2000, with the above
reference. 

Please find attached the FCA's response.

For ease of reference, we also include below the hyperlinks provided in
our reply:

[1]https://ico.org.uk/media/for-organisatio...

 

[2]https://ico.org.uk/for-organisations/gui...

 

[3]https://ico.org.uk/media/2617613/ico-reg....

 

Yours sincerely

 

Information Disclosure Team / Operations Directorate

 

[4]Description: cid:image001.png@01D2A7C9.64DDD390

12 Endeavour Square

London

E20 1JN

 

Tel:    +44 (0)20 7066 1000

[5]www.fca.org.uk

 

Follow us:

 

[6]Description: https://g.twimg.com/Twitter_logo_blue.pn...
image003

 

 

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

Visible links
1. https://ico.org.uk/media/for-organisatio...
2. https://ico.org.uk/for-organisations/gui...
3. https://ico.org.uk/media/2617613/ico-reg...
5. http://www.fca.org.uk/
6. https://twitter.com/TheFCA
7. https://www.linkedin.com/company/financi...

Dear The Financial Conduct Authority,

Whilst I appreciate your letter, I have to say that the service you provide to the public is appalling, especially considering it is a legal requirement. You treat the public with obvious disrespect and disdain.

Your office seems to have little understanding of proper customer service and keeping people updated. It is unacceptable by any standards to take a month to query basic information and I have noticed others raising concerns about this practice by the FCA on What Do They Know. Would it be acceptable to yourselves to receive this kind of "service"? You raised problems with one of my questions and entirely failed to respond to the other two, even after a month.

Also, you don't appear to have understood the content accessed via the links you have provided and you have failed on numerous counts including the overlong period you took to query Q3, the lack of urgency, exactly why you couldn't understand it in the first place, and why you didn't process the two other questions - especially AS YOU KNEW you were writing back a whole month later. Fortunately we have What Do They Know and I have to check every single piece of information I receive from yourselves on their site and also the ICO site. I'm sorry but it seems that, like many other members of the public, I have no confidence at all in your service.

Yours faithfully,

Matthew Banwell

Freedom of Information, The Financial Conduct Authority

Thank you for e-mailing the Financial Conduct Authority's Information
Disclosure Team.

This is an automatic acknowledgement to tell you that we have received
your email safely.

Please do not reply to this email.

We will be in touch in due course.

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)

Dear The Financial Conduct Authority,

I submitted my request on 21 February and it was legally due on 21 March 2022.

You wrote to me on 13 April advising that you would provide your response by 19 April. Regrettably you have failed to meet that deadline too.

Please respond without any more delays.

Yours faithfully,

M Banwell

Freedom of Information, The Financial Conduct Authority

Thank you for e-mailing the Financial Conduct Authority's Information
Disclosure Team.

This is an automatic acknowledgement to tell you that we have received
your email safely.

Please do not reply to this email.

We will be in touch in due course.

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)

Gadawodd Matthew Banwell anodiad ()

ICO complaint notified 07-05-22. FCA to respond within 10 days.

Freedom of Information, The Financial Conduct Authority

1 Atodiad

Our ref: FOI9054

 

 

Dear Mr Banwell

 

Freedom of Information: Right to know request

 

Thank you for your emails of 22 February and 21 March 2022 concerning FCA
backlash and staff strikes. Please see Annex A for full details of your
request.

 

We have processed your emails in line with the provisions of the Freedom
of Information Act 2000 (FOIA) and our response is below.

 

For question 1, we can confirm that such a survey was conducted by the
SCC. Among our total workforce of over 4,000, it gathered feedback from
1,852 respondents, and 56% of these respondents (1,037 employees)
confirmed in the electronic survey that they were thinking of leaving the
FCA in the next three years.

 

For question 2, there are currently 14 members of our Staff Consultative
Committee. Their roles in this capacity are neither full time nor
union-related, but rather are carried out alongside their other work for
the FCA. These individuals are either (i) elected members, each for a
two-year period, or (ii) appointed temporarily until the next election
point.

 

Your right to complain under FOIA

 

If you are unhappy with this response, you have the right to request an
internal review.  To do so, please contact us within 40 working days of
the date of this response at [1][email address].

 

If you are not content with the outcome of the internal review, you also
have a right of appeal to the Information Commissioner by phone or on
their website at:

 

Telephone: 0303 123 1113

Website: [2]www.ico.org.uk

 

Yours sincerely

 

 

Information Disclosure Team

 

12 Endeavour Square

London

E20 1JN

 

 

 

 

 

Annex A

 

Email received on 21 February 2022:

 

I refer to yesterday's Financial Times article regarding the various
problems affecting the FCA:

 

"UK Financial Conduct Authority chief faces backlash over reforms"

 

"Nikhil Rathi is struggling with a staff revolt and perceptions of ‘chaos’
as he rebuilds the regulator"

 

A. The FT article refers to:

 

"A report published last week by the FCA’s Staff Consultative Committee
(SCC) said 56 per cent of the 1,852 respondents claimed they were
considering leaving the regulator because of the changes. Almost half the
respondents said the proposals “would not support the FCA in meeting its
regulatory objectives”.

 

Q1: Please provide the SCC report and/or all relevant detail regarding how
the 56% majority respondents articulated their position of considering
leaving and how this majority vote was taken and also how it was
communicated to the FCA.

 

Q2: Please advise how many people there are in the SCC and whether these
are full-time or part-time union roles or, if neither of these, exactly
what these SCC roles are and the terms and requirements of the SCC roles.

 

B. The FT article refers to:

 

“This is a deep and necessary culture change which takes time and may feel
uncomfortable for some colleagues and stakeholders,” the FCA added.

 

Q3: Please provide full details setting out all elements of the culture
change including the source analysis and how the culture change was
communicated to staff and stakeholders and all the (anonymised) responses
received from staff and stakeholders.

 

We wrote to you on 21 March 2022 to clarify question 3 of your request and
you responded the same day to advise you wished to proceed with questions
1 and 2 but would withdraw question 3.

 

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

Visible links
1. file:///C:/Users/sali3/AppData/Roaming/OTLocal/PRODRM/Workbin/3E7676D.0/[email address]
2. http://www.ico.org.uk/