1. Content
i. Introduction
ii. Our complaints procedure
iii. Other Ombudsman and Regulatory Contact Details
2. Introduction
FAIS is aimed at protecting consumers by ensuring that the rendering of intermediary services and/or the giving of advice in relation to a financial product is done in a competent and transparent manner. Consumers of financial products have the right to complain about any inappropriate advice or services rendered.
Currency Assist SA (Pty ) Ltd (“Currency Assist”) is committed to maintaining these standards of competency and transparency when dealing with prospective and existing customers.
3. Our Complaints Procedure
Who may lodge the complaint?
The complaint may be lodged by you as a client, a nominated beneficiary or a lawful successor.
What constitutes a complaint?
A complaint may be lodged by you against Currency Assist or any of its representatives if you have:
- Been treated unfairly, suffered prejudice or damages as a result of Currency Assist or its representative fails to comply with the provisions of FAIS.
- Suffered prejudice or damages as a result of the wilful or negligent financial service rendered by Currency Assist or its representative.
How to complain – the first step:
3.1 It is advisable to complain directly to Currency Assist or its representative first.
i. Phone our S43 Compliance Officer on: 0871 355 978
ii. Email: info@currencyassist.com
3.2 Our complaints procedure:
I. 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 3 (three) days working days of the communication. II. Please include 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 email).
III. 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 (five) 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.
IV. The complaint will immediately be allocated to a trained and skilled person who is able to properly respond to your complaint (i.e. the S43 Compliance Officer). V. The complaint will be investigated and we will revert to you with our preliminary findings within 7 (seven) working days from the date of receipt of the complaint. In all instances, we will advise you of the reasons for our decisions.
VI. 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) working days. In all instances, we will advise you of the reasons for our decisions.
VII. If you are not satisfied with our solution, you may refer the complaint to our external compliance agency, Moonstone Compliance (Pty) Ltd. The Moonstone Compliance Officer may amend the solution or confirm it.
Name of Moonstone Compliance Officer: André Knobel E-mail address: aknobel@moonstonecompliance.co.za Telephone number: 082 445 9486 Physical address: 25 Quantum Street; Technopark, Stellenbosch, 7600
3.3 Our complaint form:
i. Complainant needs to sign the complaint form and return to us.
3.4 Complaint forms will be directed to the relevant departmental Manager.
3.5 Complaints regarding unusual or suspicious transactions and fraud will be forwarded to Currency Assist’s Compliance Officer.
Receipt of the complaint:
Once you have lodged your complaint we will:
- Acknowledge receipt of the complaint in writing
- Investigate the complaint in a timely and fair manner
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Deal with your complaint in confidence.
- Respond to you with the outcome of our investigation
3.6 If, after having referred the complaint to the Moonstone Compliance Officer, 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.
3.7 In instances where we have not been able to arrive at a resolution within 6 (six) weeks after you have submitted your complaint, you may refer the matter to the Ombud. The Ombud acts independently and objectively and has jurisdiction in respect of complaints relating to advice or intermediary services, which has arisen after 15 November 2002.
3.8 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.
3.9 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 Financial Advisory and Intermediary Services Act 2002 and the rules promulgated in terms of that section.
4.0 The Ombud – Mr. Naresh Tulsie – may be contacted at his offices in Pretoria at the following
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
Facsimile: +27 12 470 9097 / +27 12 348 3447
Postal Address: P.O. Box 74571, Lynwood Ridge, 0040
E-mail Address: info@faisombud.co.za
Website: www.faisombud.co.za