PRA fines insurer £4.165m for incorrect FSCS data submissions
The Prudential Regulation Authority has fined specialist insurer HDI Global SE £4,165,000 in connection with the submission of incorrect data to the regulator.
It revealed this occurred on “multiple occasions” between August 2021 and August 2024 and included errors in data provided to the PRA in purported remediation of previously incorrect submissions.
The information related to Financial Services Compensation Scheme liabilities and FSCS fee tariff data.
Firms must maintain effective systems and controls to ensure the integrity of data submissions. This is fundamental to achieving the PRA’s safety and soundness objective.Gareth Truran, PRA
The PRA said
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