AGGREGATE COMPLAINTS STATISTICS: 2006 to 2009 (H1) Summary
1. Core Content Overview
This document provides an overview of complaints received by the Financial Services Authority (FSA) from 2006 to 2009, with a specific focus on the first half of 2009 (H1). It includes statistics on complaints by product group and cause, volumes by firm type, resolution speed, and upheld complaints.
2. Main Points and Key Information
2.1 Complaints by Product Group and Cause (2009 H1)
| Cause of Complaint |
Banking & Loans |
GI & Pure Protection |
Home Finance |
Investments |
Life & Pensions |
Other |
Total |
| Arrears Handling |
27,053 |
1,127 |
3,655 |
42 |
883 |
39,181 |
3% |
| Breach of Contract |
14,606 |
9,369 |
703 |
193 |
714 |
1,670 |
2% |
| Delays |
57,762 |
28,108 |
5,982 |
5,008 |
14,945 |
5,969 |
8% |
| Dispute over sums/amounts |
92,920 |
52,770 |
14,445 |
2,722 |
14,160 |
7,909 |
12% |
| Failure to carry out instructions |
84,773 |
21,643 |
3,475 |
4,578 |
6,960 |
6,199 |
8% |
| Misleading Advertising |
16,631 |
5,965 |
935 |
625 |
2,014 |
1,599 |
2% |
| Misleading Advice |
38,339 |
105,560 |
5,080 |
6,778 |
41,747 |
10,463 |
14% |
| Other Admin |
139,952 |
18,968 |
10,864 |
3,441 |
7,334 |
8,293 |
13% |
| Overcharging |
184,215 |
9,229 |
8,179 |
1,318 |
669 |
3,283 |
14% |
| Poor Customer Service |
118,623 |
43,910 |
9,914 |
7,365 |
15,867 |
27,953 |
15% |
| Switching/Churning |
166 |
412 |
29 |
19 |
102 |
164 |
0% |
| Other (category does not match) |
79,213 |
37,382 |
7,619 |
5,099 |
10,289 |
14,768 |
10% |
| Total |
854,253 |
334,443 |
70,880 |
37,188 |
115,684 |
94,691 |
1,507,139 |
- Misleading Advice had the highest number of complaints (207,967) and proportion (14%) among all product groups.
- Overcharging was the most common cause in Banking & Loans (22% of complaints).
- Other Admin had the highest proportion in GI & Pure Protection (11%).
- Switching/Churning had very few complaints (892 total) and no significant proportion.
2.2 Number of Complaints by FSA Firm Type (2009 H1)
| Firm Type |
Number of Complaints |
| Bank (inc e-money issuers) |
1,013,601 |
| Building Society |
60,825 |
| General Insurance Intermediary |
144,751 |
| Investment Management |
10,892 |
| Life Insurer |
63,448 |
| Mortgage |
11,755 |
| Other Insurer |
149,953 |
| Personal Investment |
17,160 |
| Professional firms |
417 |
| Securities & Futures |
12,147 |
| Other |
22,190 |
| Total |
1,507,139 |
- Banks had the highest number of complaints (1,013,601).
- Other Insurer and Life Insurer had relatively high complaint numbers (149,953 and 63,448 respectively).
- Professional firms and Securities & Futures had the lowest numbers of complaints (417 and 12,147).
2.3 Number of Complaints by Cause of Complaint (2009 H1)
| Cause of Complaint |
Number of Complaints |
| Misleading Advice |
207,967 |
| Poor Customer Service |
223,632 |
| Dispute over sums/amounts |
184,926 |
| Delays |
117,774 |
| Overcharging |
206,893 |
| Other Admin |
188,852 |
| Arrears Handling |
39,181 |
| Breach of Contract |
27,255 |
| Misleading Advertising |
27,769 |
| Switching/Churning |
892 |
| Total |
1,507,139 |
- Misleading Advice was the most frequent cause of complaints (207,967).
- Poor Customer Service was the second most frequent cause (223,632).
- Overcharging and Dispute over sums/amounts were also significant with 206,893 and 184,926 complaints respectively.
2.4 Number of Closed Complaints by Firm Type (2009 H1)
| Firm Type |
Number of Closed Complaints |
| Bank (inc e-money issuers) |
1,015,915 |
| Building Society |
71,650 |
| General Insurance Intermediary |
146,597 |
| Investment Management |
11,301 |
| Life Insurer |
65,705 |
| Mortgage |
11,214 |
| Other Insurer |
140,687 |
| Personal Investment |
16,977 |
| Professional firms |
404 |
| Securities & Futures |
12,235 |
| Other |
22,310 |
| Total |
1,514,997 |
- Banks had the highest number of closed complaints (1,015,915).
- Other Insurer and Life Insurer had relatively high numbers of closed complaints (140,687 and 65,705 respectively).
- Professional firms had the lowest number of closed complaints (404).
3. Speed of Resolution (Closed after 8 weeks)
| Firm Type |
Proportion of Complaints Closed after 8 Weeks |
| Bank (inc e-money issuers) |
12% |
| Building Society |
7% |
| General Insurance Intermediary |
10% |
| Investment Management |
12% |
| Life Insurer |
7% |
| Mortgage |
8% |
| Other Insurer |
6% |
| Personal Investment |
22% |
| Securities & Futures |
11% |
| Other |
4% |
| Total |
11.0% (as a percentage of all closed complaints) |
- Personal Investment had the highest proportion of complaints closed within 8 weeks (22%).
- Securities & Futures had the second highest (11%).
- Building Society and Life Insurer had the lowest (7% and 7%).
4. Complaints Upheld
| Firm Type |
Proportion of Complaints Upheld |
| Bank (inc e-money issuers) |
35% |
| Building Society |
54% |
| General Insurance Intermediary |
32% |
| Investment Management |
48% |
| Life Insurer |
42% |
| Mortgage |
34% |
| Other Insurer |
50% |
| Personal Investment |
36% |
| Securities & Futures |
20% |
| Other |
62% |
| Total |
37.7% (as a percentage of all closed complaints) |
- Other had the highest proportion of upheld complaints (62%).
- Building Society and General Insurance Intermediary also had high upheld complaint rates (54% and 32% respectively).
- Securities & Futures and Mortgage had the lowest (20% and 34%).
5. Summary of Key Trends
- Misleading Advice and Poor Customer Service were the leading causes of complaints.
- Banks and Other Insurers had the highest number of complaints.
- Personal Investment had the fastest resolution speed (22% closed within 8 weeks).
- Other had the highest proportion of upheld complaints (62%).
- There was a general trend of increasing complaints over the reporting period, with a notable peak in 2007-H1.
