The comments were from nine firms and individuals investigated by the FSA in the past 12 months, the regulator said in its Enforcement Annual Performance Account for 2010/11.
Respondents did raise concerns about the length of some of the regulator’s enforcement investigations, and also the technical knowledge of the FSA staff conducting them.
The level of staff turnover on some of the FSA case teams was another problem raised in the feedback.
Opinions were also “mixed” on the nature and level of communications from the FSA during the enforcement process, the paper states.
The FSA said it has taken on board any comments and concerns encountered by the firms and individuals being investigated.
“Our staff were considered to be helpful, flexible and courteous at all stages of the enforcement process and many positive comments were made about their professionalism,” the annual enforcement report stated.
“Some comments were made which have reinforced our commitment to continuing to develop the level of technical knowledge of our staff on the case teams.”
On “concerns raised about the level of staff turnover on some of the case teams”, the FSA said staff changes are “to some degree inevitable in long running investigations, but we endeavour to keep this to a minimum and continue to focus on this”.
According to the report, the FSA has fewer enforcement cases open than the same time a year earlier.
For the period to the end of March, the total number of open enforcement cases was 155, down from 173 in 2010.
The settlement rate among closed cases was approximately 75% for firms, 38% for individuals and 44% for cases involving both firms and individuals, the FSA said.
