2017年-FCA英国金融行为监管局_complaints_2009_h2_9页_118kb

AGGREGATE COMPLAINTS STATISTICS: 2006 to 2009 Summary

Core Content Overview

This document provides a detailed analysis of complaints received by the Financial Services Authority (FSA) from 2006 to 2009, focusing on the number of complaints, their causes, resolution speed, upheld complaints, and the redress paid. The data is segmented by product group, firm type, and cause of complaint.

Main Sections and Key Points

1. Complaints by Product Group and Cause (2009 H2)

• Total complaints in 2009 H2: 2,654,195

• Complaints by cause:

  • Advising, selling and arranging: 1,572,133 (60% of total complaints)
  • Terms and disputed sums/charges: 80,230 (3%)
  • General admin/customer service: 44,872 (1.7%)
  • Arrears related: 50,004 (1.9%)
  • Other: 484 (0.02%)

• Key Note:

  • The increase in complaints in 2009 H2 is largely due to the resumption of reporting for unauthorised overdraft charges after the Supreme Court's judgment on 25 November 2009.
  • The 'Other' category is only available for reporting up to 31 July 2009 due to reporting requirement changes on 1 August 2009.

2. Volumes of Complaints

2.1 Number of Complaints by Product Group

• Banking: 300,022 (11.3% of total)
• Decumulation, life and pensions: 92,870 (3.5%)
• General insurance & pure protection: 626,280 (23.6%)
• Home Finance: 812,819 (30.7%)
• Investments: 1,352,873 (51.0%)
• Other: 484 (0.02%)

2.2 Number of Complaints by FSA Firm Type

• Bank (inc e-money issuers) and Building Society: 1,397,077 (52.6%)
• General Insurance Intermediary: 1,329,565 (49.7%)
• Investment Management: 2,015,462 (76.0%)
• Life Insurer: 1,396,370 (52.6%)
• Mortgage Business: 1,426,642 (53.7%)
• Other Insurer: 1,476,183 (55.6%)
• Personal Investment: 1,510,886 (57.0%)
• Professional firms: 1,075,400 (40.5%)
• Securities & Futures: 1,599,833 (60.3%)

2.3 Number of Complaints by Cause of Complaint

• Advising, selling and arranging: 2,014,371 (76.0%)
• Arrears related: 50,004 (1.9%)
• General admin/customer service: 626,280 (23.6%)
• Terms and disputed sums/charges: 1,572,133 (60%)
• Other: 105,756 (4.0%)

2.4 Number of Closed Complaints by Firm Type

• Bank (inc e-money issuers) and Building Society: 1,219,843
• General Insurance Intermediary: 561,154
• Investment Management: 2,015,462
• Life Insurer: 1,426,642
• Mortgage Business: 1,476,183
• Other Insurer: 1,510,886
• Personal Investment: 1,075,400
• Professional firms: 1,599,833
• Securities & Futures: 1,398,501
• Other: 1,352,181

2.5 Number of Closed Complaints by Type of Product

• Banking: 1,398,501
• Decumulation, life and pensions: 1,329,565
• General insurance & pure protection: 2,015,462
• Home Finance: 1,426,642
• Investments: 1,476,183
• Other: 1,510,886

3. Speed of Resolution (2009 H2)

• Total closed complaints in 2009 H2: 1,398,501

• Proportion closed within 8 weeks:

  • Banking: 91%
  • Decumulation, life and pensions: 91%
  • General insurance & pure protection: 86%
  • Home Finance: 91%
  • Investments: 87%
  • Other: 89.3%

• Notes:

  • The FSA updated reporting to focus on complaints resolved within 8 weeks rather than those taking longer.
  • 2009-H1 data was revised due to firm resubmissions to align with new product categories.

4. Complaints Upheld (2009 H2)

• Total upheld complaints in 2009 H2: 707,744

• Proportion upheld:

  • Banking: 46%
  • Decumulation, life and pensions: 37%
  • General insurance & pure protection: 47%
  • Home Finance: 49%
  • Investments: 35%
  • Other: 45.2%

• Notes:

  • The percentage of upheld complaints varies significantly by firm type.
  • The 'Other' category is only available for reporting up to 31 July 2009.

5. Redress (2009 H2)

• Total redress paid in 2009 H2: £283,556,863

• Redress by firm type:

  • Bank (inc e-money issuers) and Building Society: £202,633,825
  • General Insurance Intermediary: £20,447,326
  • Investment Management: £877,832
  • Life Insurer: £16,711,102
  • Mortgage Business: £5,059,837
  • Other Insurer: £15,077,646
  • Personal Investment: £14,966,977
  • Professional firms: £75,983
  • Securities & Futures: £2,111,109
  • Other: £5,595,226

• Redress by type of product:

  • Banking: £46,272,467
  • Decumulation, life and pensions: £46,718,947
  • General insurance & pure protection: £143,813,028
  • Home finance: £11,003,089
  • Investments: £35,749,332
  • Total: £283,556,863

Notes and Additional Information

• The 'Other' product group was only available for reporting up to 31 July 2009 due to reporting requirement changes on 1 August 2009.
• The FSA had suspended reporting of unauthorised overdraft charges in 2007 due to a test case in court. After the Supreme Court's judgment in November 2009, firms resumed reporting these complaints, leading to an increase in new complaints in 2009 H2.
• Cause of complaint categories from 1 August 2009 were mapped back to 2006 data for consistency.
• Data for 2009 H1 was updated due to firm resubmissions to match new product categories.

Conclusion

The document highlights a significant rise in complaints in 2009 H2, primarily due to the resumption of reporting on unauthorised overdraft charges. It shows that investments and banking are the most common product groups involved in complaints, with investments having the highest number of complaints (1,352,873) and the highest proportion of complaints upheld (35%). The speed of resolution was generally high, with most complaints being closed within 8 weeks. Redress was highest for banks and building societies, indicating a higher financial impact on these sectors.