Financial Advisory and Intermediary Services Act, 2002 (Act No. 37 of 2002)
Specific Code of Conduct for Authorised Financial Services Providers and Representatives conducting Short-term Deposit Business, 2004
Part V : Complaint Resolution
|(1)||In this Part—|
"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.|