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FAIS Ombud Dealing with complaints submitted to the Ombud for FSPs
Under the General Code, when an FSP receives a client complaint, which of the following is the compliant way to handle it?
RE5 practice question with a worked answer. This is one of hundreds of FSCA RE5 questions in the RegulatoryExams question bank.
- a) Record the complaint, handle it through a proper internal complaints procedure, and keep the client informed of progress.Correct
- b) Resolve it informally and avoid creating any record so the FSP’s statistics stay clean.
- c) Refer the client straight to the courts without attempting internal resolution.
- d) Ignore it unless the client first escalates to the FAIS Ombud.
Why this is the answer
Providers must maintain a documented internal complaints procedure, record complaints, deal with them fairly and keep the client informed. Hiding complaints, pushing clients to court first, or ignoring them until the Ombud is involved all breach the Code.
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