FSA Annual Report 2006/07 - Better Regulation Ltd
FSA Annual Report 2006/07 - Better Regulation Ltd
FSA Annual Report 2006/07 - Better Regulation Ltd
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Section three – Improving our business capability and effectiveness<br />
<strong>FSA</strong> <strong>Annual</strong> <strong>Report</strong> <strong>2006</strong>/<strong>07</strong><br />
41<br />
During the year our Firm Contact<br />
Centre received 111,558 calls and<br />
59,983 items of correspondence<br />
(compared with 149,172 and 48,901<br />
in 2005/06). As Chart 3.2 shows,<br />
the most common queries related to<br />
regulatory reporting and Firms<br />
Online, the electronic system we use<br />
to collect returns from mortgage and<br />
general insurance firms. The RMAR<br />
and MLAR returns accounted for<br />
over half of the calls in this category,<br />
while the Firms Online system<br />
accounted for a further 30%.<br />
Queries on our Handbook fell<br />
considerably from 45,947 in<br />
2005/06 to 12,520 in <strong>2006</strong>/<strong>07</strong>,<br />
following improvements to make it<br />
more accessible and easier to<br />
understand.<br />
Consumer Contact Centre<br />
During the year the Consumer<br />
Contact Centre received a total of<br />
182,989 telephone calls and 28,254<br />
items of correspondence (see Charts<br />
3.3 and 3.4).<br />
Chart 3.3 shows the number of<br />
telephone queries received on three<br />
broad subject areas. The number of<br />
queries about the mis-selling of<br />
mortgage endowment policies has<br />
nearly halved during the last year<br />
(59,033 compared with 100,594 in<br />
2005/06). This may be the result of<br />
our work with firms during the year<br />
to improve the speed and quality of<br />
their mortgage endowment<br />
complaints handling (see Section<br />
two) and our work to raise<br />
consumers’ awareness of how they<br />
can take action in this area.<br />
Chart 3.2: Telephone calls received in the Firm Contact Centre split by topic<br />
1 April <strong>2006</strong> to 31 March 20<strong>07</strong><br />
60,000<br />
50,000<br />
40,000<br />
30,000<br />
20,000<br />
10,000<br />
0<br />
Chart 3.3: Telephone calls received in the Consumer Contact Centre split by topic<br />
1 April <strong>2006</strong> to 31 March 20<strong>07</strong><br />
100,000<br />
90,000<br />
80,000<br />
70,000<br />
60,000<br />
50,000<br />
40,000<br />
30,000<br />
20,000<br />
10,000<br />
0<br />
3,500<br />
3,000<br />
2,500<br />
2,000<br />
1,500<br />
1,000<br />
500<br />
0<br />
8,368<br />
Authorisation<br />
queries<br />
3,477<br />
Credit<br />
unions<br />
92,006<br />
Other investment<br />
26,256<br />
General<br />
queries<br />
2,228<br />
Fees<br />
invoices<br />
59,033<br />
Mortgage endowments<br />
56,528<br />
Firms Online<br />
& regulatory<br />
reporting<br />
12,520<br />
Handbook<br />
queries<br />
31,950<br />
2,181<br />
Revenue<br />
queries<br />
Mortgage and general insurance<br />
Chart 3.4: Correspondence received in the Consumer Contact Centre split by topic<br />
1 April <strong>2006</strong> to 31 March 20<strong>07</strong><br />
Authorisation enquiry<br />
Boiler room project<br />
Charges<br />
Company affairs<br />
Consumer credit<br />
Customer service/administration<br />
Financial advice<br />
Firm complaints procedure<br />
Fraud<br />
<strong>FSA</strong> rules<br />
<strong>FSA</strong> website<br />
Insurance claim<br />
Mis-selling<br />
Other (Specify)<br />
Outside CCC remit<br />
Publications request<br />
Register<br />
Register check<br />
Tracing firms<br />
Training & competence<br />
Unauthorised firm