All RE5 questions
FAIS Ombud Dealing with complaints submitted to the Ombud for FSPs
An FSP fails to respond to a client's internal complaint within six weeks (42 days) of receiving it. The client is now entitled to take which action?
RE5 practice question with a worked answer. This is one of hundreds of FSCA RE5 questions in the RegulatoryExams question bank.
- a) Automatically receive compensation.
- b) File a second complaint with the FSP.
- c) Refer the complaint directly to the FAIS Ombud.Correct
- d) Ask the FSCA to audit the FSP.
Why this is the answer
According to the Ombud Rules (Rule 7(1)), a client must wait for the FSP to provide a final response *or* for the six-week period to elapse. If the FSP fails to respond within six weeks, the client is entitled to refer the complaint directly to the Ombud.
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