Financial Advisory and Intermediary Services Act, 2002 (Act No. 37 of 2002)Board NoticesSpecific Code of Conduct for Authorised Financial Services Providers and Representatives conducting Short-term Deposit Business, 2004Part V : Complaint Resolution11. General |
| (1) | In this Part— |
means a complaint as defined in section 1(1) of the Act (excluding the reference to section 26(1)(a)(iii) thereof), submitted by a client to a provider for purposes of resolution by the provider;
in relation to a provider and a client, means the system and procedures established and maintained by the provider in accordance with this Code for the resolution of complaints by clients;
means the Ombud for Financial Services Providers referred to in section 20(2) of the Act;
"resolution" or "internal resolution"
in relation to a complaint and a provider, means the process of the resolving of a complaint through and in accordance with the internal complaint resolution system and procedures of the provider;
means the Rules on Proceedings of the Office of the Ombud for Financial Services Providers, as published in the Gazette.
| (2) | A provider must— |
| (a) | request that any client who has a complaint against the provider must lodge such complaint in writing; |
| (b) | maintain a record of such complaints for a period of five years; |
| (c) | handle complaints from clients in a timely and fair manner; |
| (d) | take steps to investigate and respond promptly to such complaints; and |
| (e) | where such a complaint is not resolved to the client’s satisfaction, advise the client in terms of the Act or any other law. |