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Financial Advisory and Intermediary Services Act, 2002 (Act No. 37 of 2002)

Board Notices

Specific Code of Conduct for Authorised Financial Services Providers and Representatives conducting Short-term Deposit Business, 2004

Part V : Complaint Resolution

11. 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;


"internal complaint resolution system and procedures"

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.