What

No breach.

How much

None.

Why

FSA thematic visit.

Regulator

FSA

Regulatory action

Monetary penalty – £77,000

Reason for action

• Inadequate risk assessment.
• Poor control over backup media.

When

13 June 2008

Links

View the press release relating to Merchant Securities Group on the FSA website

View PDF of the Merchant Securities Group Final Notice (via FSA website)

View PDF of the Merchant Securities Group Final Notice (Breachwatch archive)