Complaints Resolution

Definition of terms

Complaint” means an expression of dissatisfaction by a complainant, relating to a product or service provided or offered by the financial services provider, or to an agreement with the financial services provider in respect of its products or services and indicating that –
a) the financial services provider or its service provider has contravened or failed to comply with an agreement, a law, a rule, or a code of conduct which is binding on the financial services provider or to which it subscribes;
b) the financial services provider or its service provider’s maladministration or wilful or negligent action or failure to act, has caused the complainant harm, prejudice, distress or substantial inconvenience; or
c) the financial services provider or its service provider has treated the

complainant unfairly.

1.1. “complainant” means a person who submits a complaint and includes a

(a) client;

(b) person nominated as the person in respect of whom a product supplier should meet

financial product benefits or that persons’ successor in title;

(d) person that pays a premium or an investment amount in respect of a financial product;

(e) member;

(t) person whose dissatisfaction relates to the approach, solicitation marketing or

advertising material or an advertisement in respect of a financial product, financial

service or related service of the provider,

who has a direct interest in the agreement, financial product or financial service to which

the complaint relates, or a person acting on behalf of a person referred to in (a) to (f);

“Client” means a specific person or group of persons, excluding the general public, who is or may become the subject to whom a financial service is rendered intentionally, or is the successor in title of such person or the beneficiary of such service;

“Client Query” means a request to the financial services provider by or on behalf of a Client or prospective Client, for information regarding the financial products, services or related processes, or to carry out a transaction or action in relation to any such product or service.