The UK Information Commissioner’s Office (ICO) has determined that former NatWest chief executive, Alison Rose, violated data protection laws twice when she discussed the closure of Nigel Farage’s bank account with a journalist. In a recent ruling, the ICO found that Rose shared Farage’s personal data in an inaccurate manner. This development comes at a critical time for NatWest, as the board is set to meet and release its third-quarter results.
The ICO has confirmed the verdict and issued a statement denouncing Rose’s actions as unacceptable. However, given that Rose resigned from her position and NatWest has initiated its own internal investigation, the ICO has decided not to pursue further regulatory action at this time.
The board of directors has yet to decide whether Rose will receive the £2.4 million pay due to her as part of her 12-month notice period, along with any additional bonuses. Farage has been an outspoken critic of the board’s inaction, describing it as a “sick joke” that the bank continues to compensate Rose.
In response to the ICO ruling, Farage voiced his belief that Rose not only breached data rules and the FCA rule book but also fostered a culture of political bias within NatWest. Nonetheless, NatWest has declined to comment on this specific case, maintaining that it cooperates fully with the ICO during any customer complaint assessment.
This incident follows Farage’s successful campaign in July to compel Rose’s resignation and prompt a regulatory review of the “debanking” of politicians in the UK. Farage had filed a complaint with the ICO after reports emerged that Rose had confirmed his status as a client of NatWest’s wealth management arm. Rose later admitted that she had misled the reporter, falsely depicting the decision to sever ties with Farage as solely a commercial matter unrelated to his political views.
The ICO ruling partly supported Farage’s grievances, emphasizing that NatWest should not have allowed its CEO to disclose his association with Coutts and asserting that his rights were infringed due to the inaccurate information provided regarding the bank’s justification for the account closure.
Farage retains the option to pursue his complaint in court if he remains dissatisfied with the resolution. Prior to her departure, Rose would have been eligible for a maximum pay package totaling £5.3 million for the period ending December, including salary, fixed share awards, variable pay, and unvested shares.
Frequently Asked Questions
1. What did the UK Information Commissioner’s Office (ICO) find regarding Alison Rose’s actions?
The ICO determined that Alison Rose, former CEO of NatWest, breached data protection laws when she discussed Nigel Farage’s bank account closure with a journalist. The ICO concluded that Rose shared Farage’s personal data inaccurately.
2. What consequences did Rose face for her actions?
Rose resigned from her position, and NatWest initiated its own internal investigation. While the ICO deemed Rose’s actions unacceptable, they chose not to pursue further regulatory action.
3. Will Rose receive her full pay and bonuses?
The board of directors has yet to decide if Rose will receive her £2.4 million pay due to her under her 12-month notice period, along with any additional bonuses.
4. What is Nigel Farage’s response to the ICO ruling?
Nigel Farage criticized Rose for breaching data rules, the FCA rule book, and allegedly promoting a culture of political bias within NatWest.
5. Can Farage take further legal action?
Farage has the option to present his complaint in court if he remains unsatisfied with the resolution.
6. What did the ICO ruling say regarding NatWest’s handling of the situation?
The ICO concluded that NatWest should not have allowed its CEO to disclose Farage’s association with Coutts, and emphasized that the bank provided inaccurate information regarding the justification for closing his account.