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Survey identifies weak spots in SFC

Most are satisfied with the overall performance of the SFC but there is room for improvement.


The survey, conducted by the Nielsen Company on behalf of the SFC, found an overall satisfaction rate of 73%, including a 73% rate of satisfaction for staff quality and 65% rate of satisfaction for the regulator’s clarity of communication.

However, while the overall rating for the regulator was generally good there were some areas picked out for improvements by respondents. Within the ‘satisfaction with efficiency’ component of the survey there was a clear divergence of views on the regulator’s timeliness of processes, which scored 67%, and accessibility of relevant information, which scored 57%  and accessibility of staff, which scored only 55%. There were also calls from 35% of the intermediary community for improvements in the interactive phone system for intermediaries.

Another weak spot identified by the survey was in its communication as, while the regulator was given an overall 64% satisfaction rating for its communicativeness, 43% said they were not satisfied it provided ‘constructive and helpful information’.

Despite scoring 66%, the body’s overall professionalism also showed areas for improvement with 52% of respondents saying it did not understand their specific needs and 45% saying it did not understand international comparable standards on compliance standards.

Other key areas key areas highlighted for improvement were its consultation process which only scored a total rate of satisfaction of 48% and clarity of rules and regulations which scored only 55%.

To complete the survey Nielsen interviewed 586 randomly selected representatives from firms directly regulated by the SFC, professional bodies which have dealings with it and listed companies which may deal with the SFC in takeover or other securities matters.

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