Complaint means an expression of dissatisfaction by a person to a provider or, to the knowledge of the provider, to the provider's service supplier relating to a financial service provided or offered by that provider which indicates or alleges, regardless of whether such an expression of dissatisfaction is submitted together with or in relation to a client query, that -
(a) the provider or its service supplier has contravened or failed to comply with an agreement, a law, a rule, or a code of conduct which is binding on the provider or to which it subscribes;
(b) the provider or its service supplier's maladministration or wilful or negligent action or failure to act, has caused the person harm, prejudice, distress or substantial inconvenience; or
(c) the provider or its service supplier has treated the person unfairly;
means a person who submits a complaint and includes a -
(b) person nominated as the person in respect of whom a product and/or service supplier should meet financial product and/or financial service benefits or that persons' successor in title;
(c) person that pays a premium or an investment amount in respect of a financial product and/or financial service;
(d) any person whose dissatisfaction relates to the approach, solicitation marketing or advertising material or an advertisement in respect of a financial product, financial service, or related service of the provider, who has a direct interest in the agreement, financial product or financial service to which the complaint relates, or a person acting on behalf of a person referred to in (a) to (f);
1.3 Client query
Client query means a request to the provider or the provider's service supplier by or on behalf of a client, for information regarding the provider's financial product and/or financial services or related processes, or to carry out a transaction or action in relation to any such product and/or service.
1.4 Compensation payment
Compensation payment means a payment, whether in monetary form or in the form of a benefit or service, by or on behalf of a provider to a complainant to compensate the complainant for a proven or estimated financial loss incurred as a result of the provider's contravention, non-compliance, action, failure to act, or unfair treatment forming the basis of the complaint, where the provider accepts liability for having caused the loss concerned, but excludes any -
(a) goodwill payment;
(b) payment contractually due to the complainant in terms of the financial product or financial service concerned; or
(c) refund of an amount paid by or on behalf of the complainant to the provider where such payment was not contractually due;
and includes any interest on late payment of any amount referred to in (b) or (c);
1.5 Goodwill payment
Goodwill payment means a payment, whether in monetary form or in the form of a benefit or service, by or on behalf of a provider to a complainant as an expression of goodwill aimed at resolving a complaint, where the provider does not accept liability for any financial loss to the complainant as a result of the matter complained about.
Rejected in relation to a complaint means that a complaint has not been upheld and the provider regards the complaint as finalised after advising the complainant that it does not intend to take any further action to resolve the complaint and includes complaints regarded by the provider as unjustified or invalid, or where the complainant does not accept or respond to the provider's proposals to resolve the complaint.
1.7 Reportable Complaint
Reportable complaint means any complaint other than a complaint that has been -
(a) upheld immediately by the person who initially received the complaint;
(b) upheld within the provider's ordinary processes for handling client queries in relation to the type of financial product or financial service complained about, provided that such process does not take more than five business days from the date the complaint is received; or
(c) submitted to or brought to the attention of the provider in such a manner that the provider does not have a reasonable opportunity to record such details of the complaint as may be prescribed in relation to reportable complaints.
Upheld means that a complaint has been finalised wholly or partially in favour of the complainant and that--
(a) the complainant has explicitly accepted that the matter is fully resolved; or
(b) it is reasonable for the provider to assume that the complainant has so accepted; and
(c) all undertakings made by the provider to resolve the complaint have been met or the complainant has explicitly indicated its satisfaction with any arrangements to ensure such undertakings will be met by the provider within a time acceptable to the complainant.
1.9 Internal Complaints Review and Escalation Process
Internal Complaints Review and Escalation Process means the system and procedures established and maintained by the Company in accordance with the General Code of Conduct for the resolution of reportable complaints lodged against its FSP by complainants.
Complaint Dispute Facilitator refers to an impartial external FAIS Compliance Officer, senior functionary within the provider, or who has been appointed by the provider, to manage the internal complaints escalation and review process.
2. PURPOSE OF A COMPLAINTS POLICY
In terms of section 17(1)(a) of the General Code of Conduct for Authorised Financial Services Providers and Representatives (“the General Code of Conduct”) a provider must establish, maintain and operate an adequate and effective complaints management framework, in order to ensure the effective resolution of complaints and the fair treatment of complainants.
The complaints management framework must be based on the following outcomes:
Is proportionate to the nature, scale and complexity of the provider’s business and risks;
Is appropriate for the business model, policies, services, and clients of the provider;
Enables complaints to be considered after taking reasonable steps to gather and investigate all relevant and appropriate information and circumstances, with due regard to the fair treatment of complainants;
Does not impose unreasonable barriers to complainants; and
Must address and provide for the matters as contained in Part XI of the General Code of Conduct.
To achieve the abovementioned outcomes, the Company has adopted this Policy which outlines the Company’s commitment towards the fair, transparent and effective resolution of complaints. The Company will also ensure that the Complaints Management Framework is regularly reviewed to ensure the effectiveness of same.
3. ESTABLISHING A COMPLAINTS MANAGEMENT FRAMEWORK
The Company is committed towards rendering financial services with the proper due skill, care and diligence and in the best interests of its clients.
Despite the company’s high service standards there may be instances where a client nevertheless prefers to submit a formal complaint against the Company. In such instances the Company will follow the complaints management framework as outlined below.
The Company is committed towards a transparent and accessible complaints resolution process that is fair to all parties involved. To achieve these outcomes, the Company undertakes as follows:
The Company’s complaints management framework incorporates the following features, which the Company is committed to enforcing at all times:
Relevant objectives, key principles and the proper allocation of responsibilities for dealing with complaints across the business of the Company;
Appropriate performance standards and remuneration and reward strategies (internally and where any functions are outsourced) in order for complaints management to ensure objectivity;
Documented procedures for the appropriate management and categorisation of complaints which include expected timeframes and provides for circumstances under which these timeframes may be extended;
Documented procedures which clearly define the escalation, decision-making, monitoring, oversight and review processes within the complaint’s management framework;
Appropriate complaint record keeping, monitoring and analysis of complaints, and reporting to executive management, the board of directors and any relevant committee of the board on –
Identified risks, trends and action taken in response thereto; and
The effectiveness and outcomes of the complaint’s management framework.
Appropriate communication with complainants and persons representing complainants on the complaints and the complaints processes and procedures;
Appropriate engagement between the Company and the relevant Ombud;
Compliance with requirements for reporting to the Regulator and public reporting in accordance with part XI of the General Code of Conduct.
A process for managing complaints relating to the Company’s representatives and service suppliers, insofar as such complaints relate to services provided in connection with the Company’s financial products, financial services or related services, which process will:
Enable the Company to reasonably satisfy itself that the representative or service supplier has adequate complaints management processes in place to ensure the fair treatment of complainants;
Provide for the monitoring and analysis by the Company of aggregated complaints data in relation to the complaints received by its representatives and service suppliers and their outcomes;
Include effective referral processes between the Company and its representatives and service suppliers for handling and monitoring complaints that are submitted directly to either of them and require referral to the other for resolution; and
Include processes to ensure that complainants are appropriately informed of the process being followed and the outcome of the complaint.
The Company will regularly monitor the complaints management framework.
The Company will resolve client complaints by means of a practical resolution process that is managed effectively.
The Company will train and empower all relevant employee members to facilitate and resolve complaints impartially.
The Company will deal with complaints in a timely and fair manner, with each compliant receiving proper due consideration.
The Company will take the necessary steps to investigate and respond promptly to a complainant.
Where deemed necessary, the Company will appoint an independent mediator to resolve the complaint.
Where the complaint is resolved in favour of the complainant, the Company will offer the appropriate level of redress to the complainant without delay.
The Company will maintain a record of all complaints for a period of 5 years together with an indication of whether or not the complaint has been resolved.
The Company will investigate, and where necessary, take appropriate action to avoid and prevent similar circumstances which gave rise to the complaint.
The Company will ensure the recording of complaints and complaints-related information in an accurate, efficient and secure manner, and will establish and maintain appropriate processes for reporting of complaints related information to its board of directors.
The Company is committed to ensuring that its complaints processes and procedures are transparent, visible, and accessible through channels that are appropriate to the Company’s clients.
4. ALLOCATION OF RESPONSIBILITIES
The board of directors of the Company is responsible for effective complaints management. In the absence of a board of directors, the key individual of the Company will be responsible.
The board of directors and the key individual of the Company will therefore oversee and approve the effectiveness and implementation of the Company’s complaints management framework.
The internal complaint review and escalation process may be delegated to the FAIS Compliance Officer, and any queries relating to the process must be directed to same.
5. RESPONSIBLE AND ADEQUATE DECISION-MAKING
Any person in the Company that is responsible for making decisions or recommendations in respect of complaints generally or a specific complaint must –
Be adequately trained;
Have an appropriate mix of experience, knowledge and skills in complaints handling, fair treatment of clients, the subject matter of the complaints concerned and relevant legal and regulatory matters;
Not be subject to a conflict of interest; and
Be adequately empowered to make impartial decisions or recommendations.
6. CATEGORISATION OF COMPLAINTS
The Company categorises reportable complaints in accordance with the following nine categories:
Complaints relating to the design of a financial product, the set-up of a financial service or related service, including the fees, premiums or other charges related to that financial product or financial service;
Complaints relating to information provided to clients;
Complaints relating to intermediary services (N/A to our current business);
Complaints relating to financial product or financial service performance;
Complaints relating to service to clients, including complaints relating to premium or investment contribution collecting or lapsing of a financial product and/or financial service;
Complaints relating to financial product and/or financial service accessibility, changes or switches, including complaints relating to redemptions of investments;
Complaints relating to complaints handling;
Complaints relating to insurance risk claims, including non-payment of claims ((N/A to our current business); and
Where the Company considers it necessary to add additional categories relevant to its financial products, financial services and / or client base, it will do so in order to support the effectiveness of the Company’s complaints management framework, and by doing so enhancing improved outcomes and processes for its clients.
The Company will categorise, record and report on reportable complains by identifying the category of complaint to which the complaint most closely relates and group complaints accordingly.
7. INTERNAL COMPLAINT ESCALATION & REVIEW PROCESS
Through the adoption of this Policy, the Company establishes an appropriate internal complaints escalation and review process.
The Company is committed to ensuring that the procedures within the complaints escalation and review process is not overly complicated and does not impose unduly burdensome paperwork or other administrative requirements on complainants.
The internal complaint escalation and review process –
follows a balanced approach, which bears in mind the legitimate interests of all parties involved, including the fair treatment of complainants;
provides for the internal escalation of complex or unusual complaints at the request of the initial complaint handler;
provides for complainants to escalate complaints not resolved to their satisfaction;
as specified previously, is allocated to the FAIS Compliance Officer, who is an impartial, senior functionary within the Company, and is appointed by the Company to manage the internal escalation and review process.
8. DECISIONS RELATING TO COMPLAINTS
Where a complaint is upheld, any commitment by the Company to make a compensation payment, goodwill payment or to take any other action, must always be carried out without undue delay and within the agreed timeframes.
Where a complaint is rejected, the Company will provide the complainant with clear and adequate reasons for the decision and will also inform the complainant of the Company’s escalation or review process. The Company will also inform the complainant of any time limits relevant to the escalation or review process.
The Company will clearly and transparently communicate the availability and contact details of the relevant Ombud to complainants at the start of the relationship, and in relevant periodic communications. The Company will also display and make available information regarding the relevant Ombud on its premises and website.
9. ENGAGEMENT WITH THE OMBUD & REPORTING
The Company is committed to transparent engagement with any relevant Ombud in relation to its complaints.
Considering the above, the Company will monitor determinations, publications and guidance issued by any relevant Ombud with a view to identifying failings or risks in the Company’s policies, services, or practices
The Company will maintain open and honest communication and co-operation between itself and any Ombud with which it deals.
The Company is also committed to resolving a complaint before a final determination or ruling is made by an Ombud, or through the Company’s internal escalation process, without impeding or unduly delaying a complainant’s access to an Ombud.
The Company will ensure that it has the appropriate processes in place to ensure compliance with any prescribed requirements for reporting complaints related information to any designated authority, or to the public as may be required by the Regulator.
This Policy is owned by GoGetta Limited, a duly authorised Financial Services Provider (“FSP”),
As Key Individual of the aforementioned FSP, I, Jeffrey Wayne Miller, hereby confirm the adoption of this Complaints Policy.
COMPLAINANT PROCEDURE COMMUNICATION
PURPOSE OF THIS DOCUMENT
The Company is an authorised Financial Services Provider (FSP), and as such we have certain specific duties towards you – our valued client. One of these duties is the establishment of a formal complaint management and resolution framework, which will enable you to exercise your rights as provide for in the Financial Advisory and Intermediary Services Act, 2002 (FAIS Act).
The purpose of this document is to inform you of the procedure which will be followed in order to provide a resolution for the complaint which you have submitted.
COMPLAINT MUST BE RELEVANT
In terms of the FAIS Act, a “complaint” means, a specific complaint relating to a financial service rendered by a financial services provider or representative to the complainant on or after the date of commencement of this Act, and in which complaint it is alleged that the provider or representative -
has contravened or failed to comply with a provision of this Act and that as a result thereof the complainant has suffered or is likely to suffer financial prejudice or damage;
has willfully or negligently rendered a financial service to the complainant which has caused prejudice or damage to the complainant or which is likely to result in such prejudice or damage; or
has treated the complainant unfairly;
The financial services environment is complex. We will endeavour to address all reasonable requests from our clients but may also refer you to a more appropriate facility. Where the complaint relates to any aspect of our service, or any disclosures that ought to be made by us, we will endeavour to address those complaints in writing, within seven business days.
In instances where the complaint relates to any matter that is not within our control, such as business information or investment performance, we will forward the complaint to the business concerned. Please be advised that we reserve the right to recover costs or damages that we may suffer as a result of clients making frivolous, vexatious or unreasonable claims.
Our internal complaints resolution process is intended to provide for the fair and effective resolution of complaints. The time periods set out in this procedure will be adhered to as strictly as possible but may be varied if necessary. The following step by step guideline sets out the procedures we will adopt and demonstrates how a complaint will be dealt with, once received by us:
Your complaint and all communications in connection with your complaint must be in writing. All verbal communications made in connection with the complaint must be confirmed in writing within three calendar days of the communication.
Please indicate the following information:
Your name, surname and contact details;
A complete description of your complaint and the date on which the financial service which led to your complaint was rendered;
The name of the person who furnished the financial advice or rendered the intermediary service that led to your complaint; and
How you would prefer to receive future communications regarding your complaint (i.e. via fax or e-mail).
The complaint will be entered into our Complaints Register on the same day that it is made, and written confirmation of receipt will be forwarded to you. We will keep record of the complaint and maintain such record for 5 years as required by legislation. Please take into consideration that the method of communication chosen by you will determine how quickly we will respond to your complaint.
The complaint will immediately be brought to the attention of the Key Individual of the FSP for allocation to a trained and skilled person who is able to properly respond to your complaint (i.e., the Complaint Dispute Facilitator.
The complaint will be investigated, and we will revert to you with our preliminary findings within 7 (seven) business days from the date of receipt of the complaint. In all instances we will revert back to you regarding the reason for our decision.
The preliminary findings will be discussed with all internal parties concerned, and a proposed solution will be communicated to you within a further 7 (seven) business days. In all instances we will advise you of the reasons for our decisions.
If you are not satisfied with our solution, you may refer the complaint to the COO regarding the Business. The COO may amend the solution or confirm it. Please be informed that certain decisions may have to be approved by the board of the FSP. In such a case we will communicate that fact to you, as well as the date on which a decision relating to your complaint will be made.
If, after having referred the complaint to the COO, you are still not satisfied with the outcome, we will regard the complaint as being unsatisfactorily resolved. In such a case, you may approach the office of the Ombud for Financial Services Providers or take such other steps as may be advised by your legal representatives.
The Ombud is appointed by the Financial Services Conduct Authority (the “FSCA”) to act as an adjudicator in disputes between clients and financial services providers. The referral to the offices of the Ombud must be done in accordance with the provisions of section 27 of the FAIS Act and the rules promulgated in terms of that section.
In instances where we have not been able to arrive at a resolution within 6 (six) weeks after you have submitted your complaint, the matter will automatically be referred to the Ombud. The Ombud acts independently and objectively and has jurisdiction in respect of complaints relating to intermediary services, which has arisen after 15 November 2002.
You must, if you wish to refer the matter to the Ombud, do so within 6 (six) months from the date of the notice in which we inform you that we are unable to resolve your complaint to your satisfaction. The Ombud will not adjudicate in matters exceeding a value of R800 000.
The Ombud – may be contacted at his offices in Pretoria at the following address:
Physical Address : Kasteel Park Office Park, Orange Building, 2nd Floor, Cnr of Nossob and Jochemus Street, Erasmuskloof, Pretoria
Telephone: +27 12 762 5000 / +27 12 470 9080
Postal Address: P.O. Box 74571, Lynwood Ridge, 0040