Foschini Retail Group (Pty) Ltd (“FRG”) Complaints Resolution Policy
IMPORTANT NOTE
Please note that this Complaints Resolution Policy relates to complaints regarding improper or inappropriate intermediary services rendered by FRG or its employees during the insurance marketing and sales process.
FAIS also stipulates that before a complainant may submit a complaint to the Ombud, the complainant must first try and resolve the complaint with the FSP (i.e. FRG).
1.
FAIS, TCF AND THE PROTECTION OF CONSUMERS
The Financial Advisory and Intermediary Services Act 37 of 2002 (“FAIS”) protects consumers by regulating the financial advice and intermediary services provided by a Financial Services Provider (“FSP”), ensuring that consumers are adequately informed about the products they purchase and the product suppliers, in order for them to make informed decisions.
Treating Customers Fairly (“TCF”) requires that the fair treatment of consumers is central to FSP’s and they must be able to demonstrate the delivery of the fairness outcomes to consumers.
In terms of FAIS and TCF (Outcome 6 – unreasonable post-sale barriers with regards to claims), FRG is required to have a documented complaints procedure which is accessible to its consumers.
A copy of this Complaints Resolution Policy is available on our website (www.tfgfinancialservices.co.za) or you can call the TFG’s Compliance Officer on the following contact number (021) 938 1911, to obtain a copy.
2.
TRANSPARENCY
In terms of the FAIS Act, FRG must:
2.1
disclose to the consumer that it holds a licence to provide such service;
2.2
provide all the necessary information regarding the product and the supplier;
2.3
where appropriate and where advice is given directly to the consumer, to provide details of FRG’s remuneration.
3.
DEFINITION OF A FAIS COMPLAINT
The FAIS Act provides consumers with a platform to address their complaints in a fair and procedural manner.
In terms of the Act, to qualify as a FAIS complaint, the complaint must relate to a financial service rendered by FRG to the complainant (or consumer), in which it is, alleged that FRG:
3.1
3.1 has contravened or failed to comply with the FAIS Act and that as a result thereof the complainant has suffered or is likely to suffer financial prejudice or damage;
3.2
has wilfully or negligently rendered a financial service to the complainant which has caused prejudice or damage to the complainant, or which is likely to result in such prejudice or damage; or
3.3
has treated the complainant unfairly.
4.
THE PROCEDURE WHEN SUBMITTING A COMPLAINT TO US
If the complaint meets the abovementioned requirements, the complaint must be submitted in writing, by completing the Complaint Notification Form below.
The completed complaints form must be emailed to us. Our contact details are as follows:
Compliance Officer
Foschini Retail Group Proprietary Limited (FSP No. 32719)
Telephone number: (021) 938 1911
E-mail address: faiscomplaints@tfg.co.za
Foschini Retail Group Proprietary Limited (FSP No. 32719)
Telephone number: (021) 938 1911
E-mail address: faiscomplaints@tfg.co.za
Remember to provide as much information as possible and attach copies of any relevant documentation.
Process once a complaint has been lodged with FRG:
4.1
The complainant may expect a written response, within 48 hours of receipt of the written complaint, providing him/her with details of the person who will be considering the complaint and how the complaint will be handled.
4.2
The complainant may expect a resolution (with a full response and the outcome) of the complaint within 30 days.
4.3
Where we are unable to resolve the complaint within 30 days, we will inform the complainant accordingly and provide him/her with an update on the progress.
4.4
If after receiving our final decision, the complainant is dissatisfied with the outcome of our investigation, (and the complaint qualifies as a FAIS complaint) and the complainant wishes to refer the complaint to the FAIS Ombudsman, he/she must do so, in writing, within 6 months after the receipt of the final response from FRG or after such response was due from FRG.
4.5
FRG will, on an ongoing basis, investigate the nature of complaints received and ensure that preventative measures are put in place, to avoid future occurrence of similar and other complaints.
Please remember that FRG must first be given an opportunity to resolve the complaint. Only if FRG fails to resolve the complaint to the complainant’s satisfaction within 6 weeks (of receipt of the complaint), may the complainant take the matter to the Ombud.
Please complete our Complaint Notification Form.
COMPLAINT NOTIFICATION FORM
Full Name:
ID Number:
TFG Account Number:
Date:
Your contact details
Tel:
Fax:
Cell:
Email:
Residential address:
Tel:
Fax:
Cell:
Email:
Residential address:
Person previously spoken to at TFG in connection with your complaint (if applicable):
Details of insurance product purchased:
Details of complaint (please attach any supporting documentation):
5.
THE FAIS OMBUDSMAN
The FAIS Ombudsman’s objective is to consider and dispose of complaints in a procedurally fair, informal, economical and expeditious manner with reference to what is equitable in the circumstances.
The Ombudsman will only proceed to investigate an officially received complaint once he has notified all interested parties of the particulars of the complaint in writing, and is satisfied that all parties are provided with the opportunity to submit a response.
The Ombudsman may not adjudicate in matters exceeding a value of R800 000.
The contact details of the FAIS Ombudsman are:
FAIS Ombudsman
Financial Services Board
P O Box 35655
MENLO PARK
0102
Telephone number (012) 428-8000
Toll Free 080 011 0443
Fax number (012) 347-0221
Financial Services Board
P O Box 35655
MENLO PARK
0102
Telephone number (012) 428-8000
Toll Free 080 011 0443
Fax number (012) 347-0221
Or
P O Box 74571
LYNWOOD RIDGE
0040
Telephone number: 012 470 9080
Share call: 0860 324 766 / 0860 FAISOM
Fax number: 012 348 3447
E-mail: info@faisombud.co.za
Website: www.faisombud.co.za
LYNWOOD RIDGE
0040
Telephone number: 012 470 9080
Share call: 0860 324 766 / 0860 FAISOM
Fax number: 012 348 3447
E-mail: info@faisombud.co.za
Website: www.faisombud.co.za
