FNB Manager Debarred for Misappropriating Client Data

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In a significant breach of financial ethics, Christo Wiesner, a former manager at First National Bank (FNB), has been debarred from the financial sector for transferring sensitive client information to his personal email account.

Wiesner, who had been with FNB since 2010, resigned in January 2024 to join a competing financial institution. During his notice period, he sent two emails from his work account to his private Gmail account.

One email contained confidential client information, while the other included a list of high-earning customers, detailing their sources of funds and wealth.

In July 2024, Wiesner was debarred from working in the financial sector. He sought relief at the Financial Service Tribunal (FST) to overturn the bank’s decision.

During the hearing, the FST determined that Wiesner’s actions breached the Financial Advisory and Intermediary Services Act requirements (FAIS) and indicated a lack of integrity.

The tribunal concluded that his argument of sending the emails “in error” was unconvincing and upheld the debarment.

This case underscores the critical importance of safeguarding client information and adhering to confidentiality agreements within the financial sector.

Financial institutions are reminded of their responsibility to protect client data and maintain trust in the industry.

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