FCA’s GDPR bill to hit almost £4m

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The Financial Conduct Authority (FCA) will have spent around £4m by the end of this financial year to ensure it is compliant with the General Data Protection Regulation (GDPR), Insurance Age can reveal.

A Freedom of Information (FOI) request showed that as of 1 May 2018 the regulator had already spent £1,842,401.40 getting ready for the new rules that came into force on 25 May.

Legal advice
A breakdown of the figures showed that IT system changes cost the watchdog £264,000 while staff training

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