The FMA has published a guide for FAPs on how to respond to complaints from clients.
The regulator says complaints should be handled in a fair, timely, and transparent way, and that all complaints should be recorded, including the date the complaint was received and any action taken.
Once a complaint is received, Section 229F of the FMC Regulations sets out the information that must be provided to the complainant.
This includes:
- An overview of your internal complaints process
- A statement to the effect that the complainant has access to a free, independent dispute resolution service if the complaint is not resolved to the complainant’s satisfaction using your internal complaints process
- The name of, and contact details, for your dispute resolution scheme
Read the full FMA guide and check list here.