The Complaints Commissioner has urged the Financial Services Authority (FSA) to review its record keeping after it found the regulator was unable to provide a complainant with details of a phonecall.
Commissioner Anthony Holland said it was 'unacceptable' that when the FSA complaints team asked for details of a call made to its consumer contact centre,they were not retrieved.
'The FSA must take steps to improve its ability to retrieve call records,' he said.
The FSA was only able to provide details of the call once they were requested by the Commissioner, but the notes taken were 'wholly inadequate' he said.
'Whilst I accept that a five-minute conversation could be summarised briefly... the notes in this case do not appear to record accurately the whole or indeed the nature of what was discussed,' he said.
The complaint related to a call made to the FSA for reassurance over a money transfer firm. The complainant passed £20,000 to the firm to be transferred into dollars and sent to their US bank account, only for the firm to go into administration.
But the Commissioner found that the answers provided to the complainant were 'factually correct and were the only ones that the person could provide'.