The Irish Financial Services Regulatory Authority (IFSRA) received 11,000 calls to its consumer help-line and handled over 2,500 specific issues raised by consumers, of which 97 per cent were resolved, during its first year of operations.
"We have introduced and are developing new industry codes of practice to protect consumers in their dealings with financial services providers," chief executive, Mr Liam O'Reilly said.
"The size and scale of the task we face can never be underestimated and it was vital that we became effective from our first day of operation," he added.
According to its first annual report launched today ISFRA produced and distributed 18 separate publications and hosted more than 85,000 separate visits to its website since it was launched in December.
ISFRA also authorised 665 new financial services firms and funds, received and analysed almost 51,000 returns from the firms it regulates and conducted 437 review meetings and on-site inspections. It also met with more than 600 representatives of 244 credit unions at regional meetings throughout the country.
"The financial services industry is an integral component of Irish society and it is therefore in all of our interests that it remains competitive and that we continue to work to maintain public confidence in it," Mr O'Reilly said.
He also noted that the new consumer information centre was opened on the anniversary of their first year of operation.