In a report by FTAdviser’s parent paper the Financial Times, Nutmeg said due to a fault with the code running its service, the company had emailed more than 30 investment suitability reports to the wrong people.
Nutmeg has spoken to all of those involved and all 32 customers affected by the incident this autumn. The breach was cause by a system coding error and was reported to the Information Commissioner’s Office.
Nick Hungerford, co-founder and chief executive of Nutmeg and a member of the FCA’s Financial Advice Market Review expert panel, said in a statement: “Due to a technical error on September 1, a small number of customer suitability reports were sent to the wrong people. This was identified and rectified immediately, and all customers affected were contacted directly to inform them of the issue and apologise.
“At Nutmeg we put our customers first, and take the security of customer data very seriously; we have conducted a thorough investigation and can assure our customers this will not happen again.
“Thirty two customers were affected by the wrong suitability reports being issued via our secure email platform.”
“This is the first time this has happened to Nutmeg; we spoke to affected customers immediately and have since introduced further development procedures and testing.”