Complaints Policy
1. Purpose
The purpose of this Complaints Policy is to outline the procedures and principles to be followed by FBK Online Services (Pty) Ltd(FBK Online Services), a juristic representative of Sithundhi Group (Pty) Ltd, which is an authorised Financial Services Provider(FSP) (hereinafter referred to as "the Company") in addressing and resolving complaints from clients in accordance with the requirements of the Financial Advisory and Intermediary Services (FAIS) Act in South Africa.
2. Definitions
- · Complaint: Any expression of dissatisfaction made by a client in relation to the Company's services or activities.
· Compliance Officer :The individual designated by the Company to oversee compliance with FAIS requirements.
· FAIS Act: The Financial Advisory and Intermediary Services Act, 2002 (Act No. 37 of 2002) as amended. Representative Any natural person who provides financial services on behalf of the
Company and is authorized in terms of the FAIS Act.
· Complaint: Any expression of dissatisfaction made by a client in relation to the Company's services or activities.
· Compliance Officer: The individual designated by the Company to oversee compliance with FAIS requirements.
· FAIS Act: The Financial Advisory and Intermediary Services Act, 2002 (Act No. 37 of 2002) as amended. Representative Any natural person who provides financial services on behalf of the Company and is authorized in terms of the FAIS Act.
3. Scope
This policy applies to all complaints received from clients, regardless of the nature of the financial service provided.
4. Complaints Handling Procedure
4.1 Receipt of Complaint
· All complaints should be submitted in writing, either electronically or in hard copy.
· Clients can submit complaints to the Company's designated complaints email address, postal address, or through any other prescribed channel.
· The Complaints team is responsible for acknowledging receipt of the complaint within five (5) business days.
4.2 Investigation and Resolution
· The appointed designated person will investigate the complaint promptly.
· A written response addressing the complaint will be provided to the client within thirty (30) business days, unless exceptional circumstances warrant an extension, in which case the client
will be informed of the delay.
· The response will include an explanation of the Company's findings and any proposed remedies or corrective actions.
4.3. Escalation
· If the client is not satisfied with the response received, they may escalate the complaint to the relevant Ombudsman or regulatory authority as prescribed by the FAIS Act.
5. Engagement with Ombud and reporting
Should your complaint be referred to the Ombud, the following must be kept in mind:
· The FSP is required to be provided with a six-week period within which to resolve any complaint, before the FAIS Ombud will have jurisdiction.
The FAIS Ombud will not adjudicate matters exceeding R3.5 million
· If you already instituted an 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 that has the same legal status of a civil court judgement.
· An award of costs may be made against the person complained against.
· 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 Tel: 012 762 5000 / 012 470 9080 E-mail: info@faisombud.co.za
125 Dallas Avenue
Menlyn,
Waterkloof Glen,
Pretoria
0010
Postal address
P.O Box 74571
Lynnwood Ridge
0040
6. Record Keeping
· The Company will maintain a comprehensive record of all complaints received, including details of the investigation, resolution, and communication with the client.
· Records will be retained for the duration specified by the FAIS Act.
7. Training and Awareness
All representatives and
staff involved in handling complaints will receive training on the Company's
complaints policy and relevant FAIS Act provisions..
8. Regular Review
This Complaints Policy will be reviewed
periodically to ensure its continued effectiveness and compliance with the FAIS
Act.
9. Contact Information
Clients will be provided with contact
information for the Company's designated complaints contact person. Should you
want to submit a complaint, please send your complaint with all supporting
documentation to support@fbkmarketdirection.com