Document History
| Date | Version & Status | Reviewer(s) | Action/ Comments |
| 28/08/2017 | 1.1 | Elzabe | New |
Document Governance and Owner
| Implementation | |
| Effective Date | Immediate |
| Update Frequency | Annually |
| Next Review Date | 28/08/18 |
| Owned by | Elzabe Volschenk |
Contents
Document History………………………………………………………………………………………………………………. 1
Document Governance and Owner…………………………………………………………………………………………. 1
Aim…………………………………………………………………………………………………………………………………….. 3
Scope………………………………………………………………………………………………………………………………….. 3
Complaint…………………………………………………………………………………………………………………………….. 3
Commitment………………………………………………………………………………………………………………………… 4
Procedure……………………………………………………………………………………………………………………………. 4
Our Procedure………………………………………………………………………………………………………………………. 5
FAIS Ombud Rules………………………………………………………………………………………………………………….. 5
Aim
It is the aim of this document to give clear and concise guidelines when receiving a complaint and the successful resolution of complaints in terms of the General Code of Conduct.
Scope
It is a requirement in terms of the General Code of Conduct as set out in Board Notice 80 of 2008 that each FSP must have a complaints policy which must be available to each client on requested. It is important that each Key Individual and representative acquaints himself/herself with the contents of this document.
Complaint
Definition of a complaint
A complaint can be defined as an event where a client is of the opinion that we or any of our Representatives provided financial advice or intermediary services where it is felt:
- that we or our representatives did not comply with FAIS and that you suffered/ will suffer financial prejudice or damage as a result
- that we intentionally or negligently gave financial advice or rendered an intermediary service which caused you prejudice or damage or is likely to cause damage; or
- that we treated you unfair
Commitment
- Our Complaints Policy and Procedures will be made available to you on request
- We will attend to, and resolve any complaint timeously and fairly by first logging the complaint and providing you with a
- All relevant staff are trained with regard to the resolution of complaints in accordance with the relevant provisions of
- Records of all complaints will be kept for a minimum period of 5 It is a statutory recordkeeping requirement in terms of FAIS, and as such, all your personal information (as per the Protection of Personal Information Act – POPI) submitted will similarly be held for this period. The information will be made available to/processed by our staff where required, as well as our compliance officer for audit purposes, the Regulator (FSB) and any Ombud who has jurisdiction. It is our business practice to retain records indefinitely so that we can identify possible trends and avoid similar complaints going forward, therefore we will keep this information in accordance with our internal policies.
- Corrective measure will be taken to ensure that problems and shortcomings identified will not happen again
Procedure
You need to ensure that your complaint is lodged to us in writing and can be sent either by email to:
Telephone Number – 051 430 4503
E-mail Address – elzabe@creation-capital.com
(This is the person responsible for resolving all FAIS complaints)
The following information must be provided in order for us to assist:
- Your name, surname and contact details;
- A complete description of your complaint;
- Details of where the transaction took place;
- The name of the person who provided you with the financial service;
- The date on which the event occurred;
- All documentation relating to your complaint; and
- Method of preferred
Our Procedure
When we receive your complaint, we will:
- Acknowledge receipt, in writing, within 48 hours and add your complaint to our internal complaints register
- Your complaint will be allocated to an appropriate person for further investigation
- We may ask for additional information if needed;
- We will investigate, attempt to resolve and respond within 21 days of receiving your complaint, or after receiving any additional information we require;
- If we require further time to investigate the complaint, this will be communicated to you in writing
- We will let you have our response in writing with full Please note that certain decisions may have to be approved by the Managing Body of the organisation. In such a case, we will communicate that fact to you, as well as the date on which a decision will be taken.
- In the event of us not being able to resolve the complaint or if you are not satisfied with our response, the complaint may be pursued, within a six (6) month’s period, with the FAIS Ombud, or any other Ombud who has jurisdiction, contact details Alternatively, you may approach your own legal counsel.
NOTE: We are required to be provided with a six week period within which to resolve any complaint, before the FAIS Ombud will have jurisdiction
FAIS Ombud Rules
Should your complaint be referred to the Ombud, the following must be kept in mind
- The FAIS Ombud will not adjudicate in matters in excess of R800 000
- If you already instituted action in a court of law in respect of this complaint the Ombud will not consider the complaint
- If the complaint was not resolved through conciliated settlement, the Ombud may make a determination which has the same legal status of a civil court judgement.
- An award of costs may be made against the person complained
- An award of costs may be made against a complainant if the conduct of the complainant was improper or unreasonable, or if the complainant caused an unreasonable delay in the finalisation of the investigation
The FAIS Ombud
Telephone No: 0860 FAISOM (0860 324 766)
E-mail: info@faisombud.co.za www.faisombud.co.za
Long term Ombud
Private Bag X 45, Claremont, 7735
Telephone No: (021) 657 5000
Facsimile No: (021) 674 0951 E-mail: info@ombud.co.za
Short Term Ombud
Tel. 011 726-8900 | Fax. 011 726-5501 | Sharecall: 0860 726 890 |
E-mail. info@osti.co.za
Pension Funds Adjudicator
Tel: 012 3461738, 012 748 4000 Fax: 0866937472
E-Mail:Enquiries@pfa.org.za Website: www.pfa.org.za
In the event of us not reverting to you within the time periods indicated above, kindly contact