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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

12. Basic principles of systems and procedures


A provider, excluding a representative, must maintain an internal complaint resolution system and procedures based on the following:


(a) Maintenance of a comprehensive complaints policy outlining the provider’s commitment to, and system and procedures for, internal resolution of complaints;


(b) transparency and visibility: ensuring that clients have full knowledge of the procedures for resolution of their complaints;


(c) accessibility of facilities: ensuring the existence of easy access to such procedures at any office or branch of the provider open to clients, or through ancillary postal, fax, telephonic or electronic helpdesk support; and


(d) fairness: ensuring that a resolution of a complaint can during and by means of the resolution process be effected which is fair to both clients and the provider and its staff.