OE-M09: Overall satisfaction of firms based on interactions with FCA
Description:
Overall satisfaction of firms based on interactions with FCA and satisfaction based on FCA communications.
Fixed firms are a small population of firms that require the highest level of supervisory attention. These firms are allocated a named individual supervisor. (42 respondents in 24/25 compared to 47 respondents in 23/24).
Flexible firms are supervised proactively. These firms use the FCA Supervision Hub as their first point of contact (over 5,300 respondents in 24/25 compared to 6,561 respondents in 23/24).
Taking into account all of your firm’s dealings with the FCA, how satisfied are you with the relationship? (Score out of 10)
Fixed Firms | Flexible Firms | |||||
|---|---|---|---|---|---|---|
| Satisfaction Score | 2022 | 2023/24 | 2024/25 | 2022 | 2023/24 | 2024/25 |
| Satisfied (≥7) | 65% | 84% | 76% | 70% | 74% | 74% |
| Mixed (4-6) | 32% | 16% | 24% | 24% | 22% | 21% |
| Dissatisfied (≤3) | 3% | 0% | 0% | 6% | 4% | 4% |
| Mean satisfaction score | 6.9 | 7.4 | 7.2 | 7.2 | 7.4 | 7.4 |
Overall, the FCA's communications to my firm are:
Clear | ||||||
|---|---|---|---|---|---|---|
Fixed Firms | Flexible Firms | |||||
| Response | 2022 | 2023/24 | 2024/25 | 2022 | 2023/24 | 2024/25 |
| Strongly Agree/Agree | 85% | 83% | 71% | 70% | 73% | 73% |
| Neither Agree nor Disagree | 10% | 15% | 17% | 18% | 17% | 17% |
| Strongly Disagree/Disagree | 5% | 2% | 12% | 12% | 10% | 9% |
Consistent | ||||||
Fixed Firms | Flexible Firms | |||||
| Response | 2022 | 2023/24 | 2024/25 | 2022 | 2023/24 | 2024/25 |
| Strongly Agree/Agree | 70% | 74% | 65% | 74% | 78% | 78% |
| Neither Agree nor Disagree | 22% | 18% | 20% | 19% | 17% | 16% |
| Strongly Disagree/Disagree | 8% | 8% | 15% | 7% | 5% | 5% |
| Relevant | ||||||
Fixed Firms | Flexible Firms | |||||
| Response | 2023/24 | 2024/25 | 2023/24 | 2024/25 | ||
| Strongly Agree/Agree | 77% | 79% | 69% | 68% | ||
| Neither Agree nor Disagree | 23% | 11% | 22% | 23% | ||
| Strongly Disagree/Disagree | 0% | 10% | 9% | 9% | ||
Source: FCA and Practitioner Panel Survey
The statement on relevance was not asked in 2022/23 so is benchmarked against 2023/24.
The question on relevance of communications in previous surveys asked firms whether they thought communications were relevant: to a great extent, to some extent, not very much, not at all, or don’t know. In 2022/23, 98% of fixed firms and 89% of flexible firms agreed that communications were relevant to a great/some extent.