There should be a formalised complaints handling process in place in every financial service provider which is easy to access. All staff should be aware of it. A senior management person should be responsible for ensuring that the complaints handling process works in a fair and proper manner.
Upon receiving written notification of the complaint from the Bureau and a request for a Final Response from the Complainant, the Provider has 25 working days in which to try to resolve the complaint by its internal complaint procedures. If at the end of the twenty five working days, a resolution has not been attained, a Final Response letter must be issued to the Complainant by the nominated member of senior management. (If the Provider requires more time to review the complaint, for example if it requires the Complainant to undergo a medical examination, the Bureau must be notified of same).
The Final Response letter must:
Handling Complaints About Our Own Services (PDF document 130k)