Complaints Resolution Policy


1. INTRODUCTIONS

Quoin Wealth (Pty) Ltd is a licensed Financial Services Provider and have representatives with authority to provide financial advice and intermediary services in terms of the Financial Advisory and Intermediary Services Act (FAIS Act). As such, we have certain specific duties to you, our clients. One of these duties is to offer you formal complaints resolution system, which will enable you to exercise your rights as provided for in the FAIS Act. The purpose of this document is to inform you of how you can make use of our complaints resolution system, to your advantage.

2. DEFINITIONS OF COMPLAINT

Compliant: means a specific compliant relating to a financial service rendered by the FSP or Representative to the client on or after the 30th of September 2004, being the commencement of FAIS, alleging that the FSP or Representative:

  1. Has contravened or failed to comply with a provision of the FAIS Act and that as a result thereof the complainant has suffered or is likely to suffer financial prejudice or damage;
  2. Has wilfully or negligently rendered a financial service to the complainant which caused prejudice or damage to the complainant or which is likely to result in such prejudice or damage;
  3. Has treated the complainant unfairly.

The complaint must not be about investment performance of the product unless the financial performance was guaranteed or the financial performance was deficient that it creates the presumption that there has been misrepresentation, negligence or mal administration.

3. COMPLAINTS MANAGEMENT MISSION

We are committed to providing our clients with quality service and undertake to manage the affairs of our clients in such a way that it would not be necessary to have a complaint about our service, integrity and commitment. However, should it happen that a client does have a complaint, we undertake to:

  • Resolve client complaints in such a way that is fair to our clients, our FSP and our staff.
  • We undertake to inform all our clients of the procedures established for the internal resolution of their complaints, details of which can be given in writing.
  • We undertake to ensure easy access to our complaints resolution process at our offices, or by way of post or email.
  • Empower and properly train the employees in our FSP to deal with complaints, as we; as with the escalation of non-routine complaints.
  • If necessary, appoint an independent mediator to resolve the complaint to the benefit of both the client and our FSP.
  • Deal with complaints in a timely and fair manner, with every complaint receiving proper consideration in a process that is managed appropriately and effectively by the responsible employee.
  • Offer appropriate remedy in all cases where a complaint is resolved in favour of a client.
  • Inform client of their right to refer their complaint(s) to the FAIS Ombud, should a complaint not be resolved to their satisfaction within 6 weeks from the date the complaint is received.
  • Maintain records of all complaints received for a period of 5 years, which will specify the outcome of all the complaints lodged.
  • If so required, implement follow-up procedures to:
    • Implement remedial actions to prevent similar complaints from occurring.
    • Improve services and procedures where necessary within the FSP.

4. SUBMITTING YOUR COMPLAINT

Should you wish to lay a complaint with us please follow the procedure outlined below:

Submit your complaint in writing and forward it to our contact details indicated on the cover page of this document. Please indicate the following on your complaint:

  • Your name, surname and contact details;
  • A complete description of your complaint;
  • The name of the person who provided you with financial advice or intermediary service;
  • The date on which the matter complained about occurred;
  • All documents relating to your complaint;
  • How you prefer to receive your communication from us regarding your complaint; by email, fax or post and please provide us with the email address, fax number or address where you would prefer to receive communication.

5. OUR COMPLAINTS PROCEDURE

As soon as we receive your complaint, we will send you an acknowledgement of receipt. Please take into consideration that the method of communication chosen by you will determine how quickly we will receive and respond to your complaint.

We will investigate and attempt to resolve your complaint to your satisfaction within 6 weeks of receipt of your complaint.

If we are unable to resolve your complaint within 6 weeks, or are unable to resolve the complaint to your satisfaction, you have the right to refer your complaint to the Ombud appointed specifically for this purpose.

The contact details of the Ombud is as follows:

The Office of the Ombud for Financial Services Providers

Email:  info@faisombud.co.za
Address:  P.O. Box 74571, Lynwoodridge, 0040
Telephone number:  012 762 5000
Fax number:  012 348 3447

Please remember however that you must refer the complaint to the Ombud within 6 months from the date of the notice in which we inform you that we cannot resolve the complaint to your satisfaction.

Please download the complaints registration form for submission if you would like to lodge a complaint.