MPs slam FCA's 'illogical and irrational' plan to delete emails

Issue is 'urgent'

Leaked plans from the Financial Conduct Authority to automatically delete employees’ emails after 12 months would threaten the transparency and accountability of the financial regulator, an All-Party Parliamentary Group (APPG) has warned.

In a letter from the APPG on Investment Fraud and Fairer Financial Services to the chair of the Treasury Committee Meg Hillier, the group of cross-party MPs said "the FCA's planned automatic deletion of emails presents inevitable, illogical and irrational risks to its performance and accountability".  The politicians added they "cannot think of any other statutory body that employs such a Draconian and opaque policy in respect of its email correspondence", and that the proposed changes would "make the FCA a noticeable outlier, deviating from established good governance standards".  FC...