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FAIS Ombud Dealing with complaints submitted to the Ombud for FSPs
A client submits a written complaint to an FSP on 1 February (not a leap year). The FSP does not respond at all. From when may the client refer the complaint 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.
- a) From mid-March, once six weeks have passed without the complaint being resolved.Correct
- b) Not at all, because a referral requires a written final response from the FSP.
- c) From 1 August, once six months have passed without the complaint being resolved.
- d) Immediately, because the failure to acknowledge a complaint entitles the client to go to the Ombud.
Why this is the answer
The FSP has six weeks from receipt to resolve a complaint. If it does not, the client may refer the matter to the Ombud, with or without a final response. Six weeks from 1 February ends in mid-March. Six months is the period within which the client must then refer the complaint, not a waiting period.
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