back to article Financial Conduct Authority wastes £3.2m on unnecessary Oracle licences

The banking regulator responsible for ensuring good behaviour in the world of finance may need to get its own house in order, at least when it comes to software licensing. The Financial Conduct Authority has admitted to wasting £3.2m on Oracle licences it did not need, according to This is Money. Oracle offered the FCA …

  1. Anonymous Coward
    WTF?

    Expensive

    I don't think this is entirely the government at fault. Examine what would have happened if they were out of compliance as adjudged by Oracle.... I'm waiting...

    1. Terry 6 Silver badge

      Re: Expensive

      Yes, to be fair. If they'd been caught using dodgy software the poo would have entered the air conditioning and no mistake.

  2. Anonymous Blowhard

    Whatever Oracle are lacking on the technical front is more than made up for by their sales people and lawyers.

    Better tell Larry that the Southampton Boat Show starts tomorrow, he might have cash to spend...

    http://www.southamptonboatshow.com

    1. coxse

      If he's in the market for a tender...

      Southampton Boat Show is good but the boats are pocket change for Larry.

      http://www.bizjournals.com/pacific/blog/2015/03/billionaire-larry-ellisons-musashi-mega-yacht.html

  3. Anonymous Coward
    Anonymous Coward

    PostgreSQL

    How is it not cheaper for large organizations to use PostgreSQL or other really good free software?

    1. David Lewis 2
      Holmes

      Re: PostgreSQL

      Simple. You don't get "Back Handers" for using free software!

    2. boboM

      Re: PostgreSQL

      It is, but they are unaware or too scared to make the decision as it often doesn't have the support / backup when something goes wrong.

      Yes you can buy good support for open source, but this is government, they don't know / care / don't want to stick their neck out.

      This is how outdated software like MS and Oracle stays in business.

      1. Roo
        Windows

        Re: PostgreSQL

        "It is, but they are unaware or too scared to make the decision as it often doesn't have the support / backup when something goes wrong."

        Times have changed, vendors have worked out that customers are more afraid of migrating away from a product than over-spending on worthless support. In IT it's also common practice for customers to endorse busted products rather than admit they've bought a very expensive lemon.

        1. Mark 65

          Re: PostgreSQL

          Whether you can get enterprise level support or not is absolutely irrelevant. As I have witnessed with the plague-like advance of Oracle throughout Government and quasi-Government organisations, I can only assume that the Oracle client entertainment is second to none throughout the deal-making process and the Oracle legal team is second to none when it comes to license renewal time.

  4. Mayhem

    No general taxpayers money was wasted

    Only the money of the firms who the FCA regulates - it is funded by a levy on the financial sector.

    And given the level of corruption that has been going on in the City, I'm really not complaining all that hard about them all having to pay a few more pennies...

    But yes, nice work by the oracle salesfolk ... they're almost more predatory than the lawyers.

    1. Anonymous Coward
      Anonymous Coward

      Re: No general taxpayers money was wasted

      Almost?! Have ever been severely audited by Oracle? Having Freddie Kruger give you a rectal exam would be more pleasant than an Oracle license audit, and you'd have less scars at the end too!

      1. BearishTendencies

        I used to handle these as a consultant on a regular basis

        In one case, they tried to pursue my client for a settlement. Turned out the licences weren't theirs. They were the outsourcers. And they didn't expect it to be noticed....

    2. LucreLout Silver badge

      Re: No general taxpayers money was wasted

      @Mayhem

      Unfortunately, while we in the financial sector do fund the FCA (and others) rather than the general tax payer, from where is it you think we are funded?

      Either from corporates, who are funded by the tax payer, or in the case of retail banks, from the tax payer directly. Tax payers being the public, who are either our customer or our customers customers.

      This wasted money has come from all of our pockets via one route or another.

      1. Andy Bell

        Re: No general taxpayers money was wasted

        I'm very interested to hear how the US owned corporate that employs a thousand UK taxpayers and spends over £50 million a year in the UK on IT infrastructure is a net recipient of UK tax money.

        1. LucreLout Silver badge

          Re: No general taxpayers money was wasted

          @Andy Bell

          I too work for a large foreign owned bank. We too spend £BNs here every year. We also make magnitudes more revenue than our costs, which we lovingly term Our Profit.

          Some of that profit, more than was used to fund the FCA, is from our profits made in Britain. We're not a charity and we'd not be here were it not profitable for us to be so: in short, we make money for and from our British clients, and they make their money from British tax payers (their customers).

          All of our FCA fee and a lot more profit besides, comes indirectly from British people. Any waste by the FCA is indirectly wasting money taken from them. How could it be otherwise?

  5. CAPS LOCK Silver badge

    All Oracle licences are unnecessary...

    ... I think you'll find.

    1. Mikel

      Re: All Oracle licences are unnecessary...

      Redundant headline redundant. More on your news at 10.

  6. Anonymous Coward
    Anonymous Coward

    I always reckoned.......

    ....ANY money spent on Oracle was a waste.

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