| (1) | For the purposes of this Part— |
"complaint" means a complaint submitted by an investor to a manager for purposes of resolution the manager;
"internal complaint resolution system procedures", in relation to a manager and an investor, means the system and procedures established and maintained by the manager in accordance with this paragraph for the resolution of complaints by investors; and
"resolution" or "internal resolution" in relation to a complaint and a manager means the process of resolving a complaint through and in accordance with the internal complaint resolution system.
| (a) | request that any investor who has a complaint against the manager must lodge such complaint in writing; |
| (b) | maintain record of complaints for a period of five years; |
| (c) | handle complaints from investors in a timely and fair manner; |
| (d) | take steps to investigate and respond promptly to complaints; and |
| (e) | where a complaint is not resolved to the investor's satisfaction, advise the investor of any further steps which may be available to the investor in terms of any other law. |
| (3) | A manager must maintain an internal complaint resolution system procedures based on the following: |
| (a) | Maintenance of a comprehensive complaints policy outlining the manager's commitment to, and system and procedures for, internal resolution of complaints; |
| (b) | transparency and visibility: ensuring that investors have full knowledge of the procedures for resolution of complaints; |
| (c) | accessibility of facilities: ensuring the existence of easy access to such procedures at any office or branch of the manager open to investors, or through ancillary postal, fax, telephone or electronic helpdesk support; and |
| (d) | fairness: ensuring that a resolution process be effected which is fair to both investors and the manager and its staff. |
| (4) | The internal complaint resolution system procedures of the manager must be designed to ensure the existence and maintenance of at least the following for purposes of effective and fair resolution of complaints: |
| (a) | availability of adequate manpower and other resources; |
| (b) | adequate training of all relevant staff, including imparting and ensuring full knowledge with regard to resolution of complaints; |
| (c) | delegation of responsibilities and mandates to facilitate complaints resolution of a routine nature; |
| (d) | provision for the escalation of non-routine serious complaints and the handling thereof by staff with adequate expertise; and |
| (e) | internal follow-up procedures to ensure avoidance of occurrences giving rise to complaints, or to improve services and complaint systems and procedures where necessary. |
| (5) | The internal complaint resolution system procedures of a manager must contain arrangements which must— |
| (i) | reduce the details of the internal complaint resolution system procedures of the manager, including all subsequent updating or upgrading thereof, to writing; and |
| (ii) | provide that access to the procedures is at all times available to investors at any relevant office or branch of the manager, or by electronic medium, and that such availability is appropriately made known by public press or electronic announcements or separate business communications to existing investors. |
| (b) | stipulate that complaints must, if possible, be submitted in writing and must contain all relevant information, and that copies of all relevant documentation must be attached thereto; |
| (c) | provide that the receipt of complaints is promptly acknowledged in writing to the investor, with communication particulars of contact staff to be involved in the resolution of the complaint, are properly internally recorded by the relevant staff; |
| (d) | make provision that after the receipt and recording of a particular complaint, the complaint will as soon as practically possible be forwarded to the relevant staff appointed to consider its resolution, and that— |
| (i) | the complaint receives proper consideration; and |
| (ii) | appropriate management controls are available to exercise effective control and supervision of the consideration process. |
| (6) | In any case where a complaint is resolved in favour of an investor, the manager must ensure that a full and appropriate level of redress is offered to the investor without any delay. |
