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FAIS Ombud Dealing with complaints submitted to the Ombud for FSPs

A client receives the FSP’s final written rejection of their complaint on 1 March. By when must they refer the matter to the FAIS Ombud?

RE5 practice question with a worked answer. This is one of hundreds of FSCA RE5 questions in the RegulatoryExams question bank.

  1. a) Within 30 days of 1 March.
  2. b) Within one year of the original advice.
  3. c) Within five years of the transaction.
  4. d) Within six months of 1 March.Correct

Why this is the answer

The client has six months from the FSP's final response (or from expiry of the six-week period) to take the complaint to the Ombud. Thirty days is too short; the one-year-from-advice and five-year-from-transaction options misstate the rule.

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