Ex-TSB CIO fined £82k for SMCR failings during platform disruption

The former chief information officer of TSB has been penalised based upon 15 per cent of his gross compensation during the 2018 transfer of 5.2 million customers onto a new IT platform.

By Neasa MacErlean

Over a third (1.9m) of those clients were locked out of their accounts - leading to the imposition of £48.6m in fines on the bank in December 2022 by the Financial Conduct Authorityand Prudential Regulation Authority.