An Authorised FirmG must have adequate policies and procedures in place for the investigation and resolution of ComplaintsG made against it by Retail ClientsG , and the manner of redress (including compensation for acts or omissions of the Authorised FirmG ).
If the complainant is not satisfied with the terms of redress offered by the Authorised FirmG , the Authorised FirmG must inform the complainant of other avenues, if any, for resolution of the ComplaintG and provide him with the appropriate contact details upon request.
Where appropriate, taking into account the nature, scale and complexity of an Authorised Firm'sG business, an Authorised FirmG must ensure that any individual handling the ComplaintG is not or was not involved in the conduct of the Financial ServiceG about which the ComplaintG has been made, and is able to handle the ComplaintG in a fair and impartial manner.
An Authorised FirmG must ensure that any individual responsible for handling the ComplaintG has sufficient authority to resolve the ComplaintG or has access to individuals with the necessary authority.
If an Authorised FirmG considers that another Authorised FirmG or a Regulated Financial InstitutionG is entirely or partly responsible for the subject matter of a ComplaintG , it may refer the ComplaintG , or the relevant part of it, to the other Authorised FirmG or Regulated Financial InstitutionG in accordance with Rule 9.2.10.
This record must contain the name of the complainant, the substance of the ComplaintG , a record of the Authorised Firm'sG response, and any other relevant correspondence or records, and the action taken by the Authorised FirmG to resolve each ComplaintG .
In accordance with GEN Rules 5.3.4 and 5.3.5, an Authorised FirmG must put in place adequate systems and controls in order for it to identify and remedy any recurring or systemic problems identified from ComplaintsG .