FOI1454 - FSA - responses to questionnaire to banks - Nov 09

[Amethyst]

Our ref: FOI1454

Dear Mr Siddle
Thank you for your request under the Freedom of Information Act 2000 (the Act), for the following information:

• • “.... I wish to request the replies you received following your letters, dated August 18th 2009 and attached questionnaires on compliance with section 13(13) of the bank charges waiver.
    I understand that firm specific information may not fall within the scope of the Act so in the alternative I would request the information received in relation to:
    Outcome 1, 1.4, Which different scenarios were presented to the FSA in relation to when the waiver ceases. This does not have to be firm specific but an outline or list of the different scenarios given.
    Outcome 1, 1.5, What range and/or average of timescales were given to respond to complaints under each of these scenarios.
    Outcome 2, 2.4, What range of dates were given and/or the earliest date given.
    Outcome 3, 3.6, What indication was given in relation to interest that may be due when calculating redress.
    Outcome 5, 5.4, What methods of repayment were presented to the FSA in relation to methods of redress. This does not have to be firm specific but an outline or list of the different methods given.
    Outcome 5, 5.5, What methods were presented to the FSA in relation to non standard cases. This does not have to be firm specific but an outline or list of the different methods given.
    Outcome 8, What other information was received.”

Further to my email of 29 October 2009 (in which we cited section 44 of the Act in relation to some of the information we hold), we considered that the remainder of that information may also be exempt under the Section 43 (Commercial interests) exemption. This is because some of the information requested, if disclosed, would, or would be likely to, prejudice the commercial interests of certain firms. We advised that we needed more time to balance the public interest in the use of this exemption.
Having now had the opportunity to review this information further and consulting with the firms concerned to obtain their views on disclosure, we are able to provide you with information in relation to Outcome 1 (1.4), Outcome 1 (1.5) and Outcome 5 (5.4) and this is set out below:

• Outcome 1, 1.4, Which different scenarios were presented to the FSA in relation to when the waiver ceases. This does not have to be firm specific but an outline or list of the different scenarios given.
  
  In summary, the scenarios firms presented can be grouped into two types:
  (a) scenarios where the waiver ceased to apply in the event of a banks win in the test case; and
  (b) scenarios related to an OFT win and the waiver ending as a result.
• Outcome 1, 1.5, What range and/or average of timescales were given to respond to complaints under each of these scenarios.
  
  In relation to the scenarios referred to in 1.4 above, of the firms who provided this data, the range of timescales given to respond to complaints were:
  (a) banks win – response times ranged from promptly to less than 12 weeks;
  (b) OFT win – response times ranged from 8 weeks – 18 months.
• Outcome 5, 5.4, What methods of repayment were presented to the FSA in relation to methods of redress. This does not have to be firm specific but an outline or list of the different methods given.
  
  The following methods of repayment were included:
  
  • Payment direct to customer's account;
  • Payment direct to another account;
  • Payment by cheque.
    

As explained to you in my email of 29 October 2009, we are not able to disclose the rest of the information to you because this is information which the FSA has received for the purpose of carrying out its regulatory function under the Financial Services and Markets Act 2000 ("FSMA"), and so section 44 (Prohibitions on disclosure) of the Act applies. The relevant firms have not given their consent for the information to be disclosed.
If you are unhappy with the decisions made in relation to your request you have the right to request an internal review. If you wish to exercise this right you should contact us within three months of the date of this email.
If you are not content with the outcome of the internal review, you also have a right of appeal to the Information Commissioner at:
Information Commissioner's Office
Wycliffe House
Water Lane
Wilmslow
Cheshire
SK9 5AF
Telephone: 01625 545 700
Website: www.ico.gov.uk
Yours sincerely

S. Spies (Mrs)
Information Access Team