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FAIS Ombud Dealing with complaints submitted to the Ombud for FSPs
A client complains in writing about poor advice. What is the FSP's first proper step under its complaints process?
RE5 practice question with a worked answer. This is one of hundreds of FSCA RE5 questions in the RegulatoryExams question bank.
- a) Record the complaint and handle it through the documented internal complaints procedure, keeping the client informed.Correct
- b) Discard the letter to keep complaint statistics low.
- c) Tell the client to go straight to court.
- d) Refuse to acknowledge receipt.
Why this is the answer
Complaints must be logged and processed through a documented internal procedure, with the client kept informed. Discarding or ignoring complaints, or pushing the client to litigation first, breaches the Code.
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