Legal

Complaints Policy

Our internal complaint resolution system and procedure, in terms of Subordinate Regulation 15, Part XI (17) of the FAIS Act, 2002.

Purple Plum Distribution Services (Pty) Ltd t/a Bekker Investments (FSB 42759) is committed to maintaining a manual outlining the system and procedure for the internal resolution of complaints; ensuring clients have full knowledge of, and easy access to, those procedures; and ensuring a speedy resolution that is fair to all clients, the Financial Services Provider and its employees.

Introduction

The FAIS Act’s complaint resolution mechanisms aim to provide speedy and cost-effective measures, saving clients from the costly and time-consuming route through the courts. This does not preclude clients from exercising their ultimate right to seek redress through the courts, as stated in Section 40 of the Act. In complicated cases involving large amounts of damages, the latter route may be preferable.

In terms of Part XI of the General Code of Conduct, Financial Services Providers are obliged to maintain an internal complaint resolution system and procedure. It is a specific requirement for all employees, including representatives, that they adhere to this manual and to all provisions of the FAIS Act, 2002 regarding complaints.

Definitions

A complaint means a specific complaint relating to a financial service rendered by a Financial Services Provider or representative to the complainant after 30 September 2004, in which it is alleged that the provider or representative:

Has contravened or failed to comply with a provision of the Act, and that as a result the complainant has suffered or is likely to suffer financial prejudice or damage;
Has wilfully or negligently rendered a financial service that has caused, or is likely to cause, prejudice or damage; or
Has treated the complainant unfairly.

General Obligations

In the case of a client complaint, Bekker Investments will:

Request that the client lodge the complaint in writing;
Promptly acknowledge receipt in writing, giving the client the contact particulars of the staff involved in the resolution;
Handle complaints in a timely and fair manner, with proper consideration of each;
Inform the client of the outcome within 4 weeks of receiving the complaint;
Where a complaint is not resolved to the client's satisfaction, provide full written reasons and advise that the complaint may be pursued within 6 months with the Ombud for Financial Services Providers, whose contact particulars will be provided;
Where a complaint is resolved in the client's favour, offer a full and appropriate level of redress without delay;
Maintain a record of complaints for a period of 5 years, together with an indication of whether they were resolved;
Ensure all existing and new clients have full knowledge of the complaint resolution procedures.

Before the Ombud enjoys jurisdiction, an aggrieved client must first resort to the internal complaint resolution system and procedure.

Resolution of Complaints

Bekker Investments ensures the existence and maintenance of:

Adequate manpower and other resources;
Adequate training of all relevant staff, including full knowledge of the provisions of FAIS, the Rules and the General Code of Conduct;
Delegated responsibilities and mandates to facilitate the resolution of routine complaints;
Provision for the escalation of non-routine, serious complaints to staff with adequate expertise;
Internal follow-up procedures to avoid recurrences and to improve services and complaint systems where necessary.

Specific Obligations

The internal complaint resolution system and procedure includes arrangements which, among other things:

Reduce the details of the system and procedure (and all updates) to writing;
Provide that access to the procedure is at all times available to clients at any relevant office or branch, or by electronic medium, and that availability is made known to existing clients;
Reference the duties of the FSP and the rights of clients;
Include a clear summary of the provisions of the Act that apply where a client wishes to pursue proceedings before the Ombud after dismissal of a complaint;
Include the name, address and contact particulars of the Ombud;
Stipulate that complaints must, if possible, be submitted in writing with all relevant information and documentation attached;
Provide that receipt of complaints is promptly acknowledged in writing and properly recorded for compliance with Sec 18(b) and (d) of FAIS;
Provide that, once recorded, a complaint is forwarded as soon as practicable to the relevant staff appointed to consider its resolution, that it receives proper consideration under appropriate management controls, and that the client is informed of the outcome within 4 weeks;
Where the outcome is unfavourable, full written reasons are furnished within 4 weeks and the client is advised of the 6-month right to pursue the matter with the Ombud;
Where resolved in the client's favour, a full and appropriate level of redress is offered without delay.

Verbal Complaints

Where a complaint is received verbally, the person receiving the call shall:

In the first instance, transfer the call to a Manager;
If a Manager is not available, take the name and contact details of the complainant, inform them the complaint will be referred to a Manager as soon as one is available, and give their own name and contact detail;
When the Manager makes contact, inform the complainant that the complaint must be reduced to writing, and immediately confirm this by letter, fax or email;
Copy all correspondence and relevant information to the Administration Manager without delay, who must inform the relevant FSP or representative together with the action taken.

Category of Persons Qualifying as Complainants

Where appropriate, a complainant includes the complainant’s lawful successor in title or the nominated beneficiary of the financial product which is the subject of the relevant complaint.

Need to lodge a complaint?

Please submit your complaint in writing to admin@bekkerinvestments.co.za and we will acknowledge it promptly.