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FAIS Ombud Dealing with complaints submitted to the Ombud for FSPs
Which statement about the FAIS Ombud's service to complainants is correct?
RE5 practice question with a worked answer. This is one of hundreds of FSCA RE5 questions in the RegulatoryExams question bank.
- a) It can only refer matters to the criminal courts.
- b) It only assists FSPs, never their clients.
- c) It charges complainants a large fee per complaint.
- d) It is free to complainants and offers an accessible alternative to litigation for eligible complaints.Correct
Why this is the answer
The FAIS Ombud provides a free, accessible dispute-resolution service for eligible complaints against FSPs/representatives — an alternative to court. It assists complainants, not just FSPs.
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