All RE5 questions
FAIS Ombud Dealing with complaints submitted to the Ombud for FSPs
On receiving a written complaint, within what time must an FSP acknowledge receipt to the client?
RE5 practice question with a worked answer. This is one of hundreds of FSCA RE5 questions in the RegulatoryExams question bank.
- a) There is no need to acknowledge receipt at all.
- b) Within a reasonable time, as part of handling the complaint promptly and fairly.Correct
- c) Only once the client has escalated the matter to the Ombud.
- d) Only after the six-week resolution period has fully elapsed.
Why this is the answer
Receipt of a written complaint should be acknowledged within a reasonable time as part of prompt, fair handling. Waiting out the six-week period, waiting for Ombud escalation, or not acknowledging at all would all fall short of fair complaints handling.
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