If you have a complaint about any Firm, you should write to the complaints officer of the Firm and send a copy to the Chairman of SIIAP, who will appoint an appropriate member of the Management Committee as your SIIAP case officer.
The Firm is obliged to respond to your complaint in writing, enclosing a copy of their complaints procedures, follow their procedures and keep you updated about the progress of the investigation at regular intervals until it is resolved. The SIIAP Case Officer will write to both the complainant and Firm confirming that SIIAP will be monitoring the handling of the complaint and explaining its role in assisting the parties to reach an outcome.
If the complainant is satisfied by the outcome of the Firm’s investigation the Firm will be required to write to the SIIAP Case Officer giving details of the outcome and confirming that appropriate actions have been taken to mitigate the risk of similar complaints in the future.
If the complainant is not satisfied by the outcome of the Firm’s investigation they should write to the SIIAP case officer, who will offer arbitration if this is appropriate. Such action will not affect your regulatory or statutory rights. Further assistance can be obtained by visiting – www.moneymadeclear.org.uk/guides/help/if_things_go_wrong.html
If the complaint still cannot be resolved and/or at least 8 weeks has elapsed since you lodged your complaint you are entitled to take the complaint to the Financial Ombudsman Service (“FOS”). Details of how to contact the FOS should be included in the Firm’s complaints procedures.
Once the FOS has adjudicated on the complaint the Firm is obliged to write to the SIIAP case officer and/or attend the next available Management Committee meeting to explain the outcome. The Firm will be required to confirm that they have taken steps to mitigate similar complaints in the future and to ensure full compliance with this Code of Practice.