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FAIS Ombud Dealing with complaints submitted to the Ombud for FSPs
Under FAIS, what is a 'complaint' for the purposes of the complaints-handling rules?
RE5 practice question with a worked answer. This is one of hundreds of FSCA RE5 questions in the RegulatoryExams question bank.
- a) A specific allegation by a client that an FSP or representative caused harm by contravening a duty, acting unfairly, or failing to render an agreed service.Correct
- b) Any general comment a member of the public makes about the financial industry.
- c) A marketing enquiry about product pricing.
- d) An internal HR grievance between two employees.
Why this is the answer
A FAIS complaint is a client's specific grievance that the FSP/representative has caused (or is likely to cause) prejudice by breaching a duty, acting unfairly, or failing to provide a service — not a general public comment or an internal staff dispute.
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