Complaint Handling Policy

 

  1. Introduction

Gstaad Brokers Ltd (hereinafter the “Company) is company registered in Seychelles and is regulated by the Financial Service Authority of Seychelles (“FSA”) as a Securities Dealer Licensee with License No: SD071 pursuant to the Securities Act 2007 (hereinafter the ‘Law’), to provide investment services.

The Company classifies a complaint as any grievance/dissatisfaction involving the activities of those persons under the control of the Company (Employees), in connection with the provision by the Company of the investment services it provides.

The target of the Company is to deliver a consistent, high-quality and accountable response to the complainant of each complaint or grievance and the measures taken for the complaint’s resolution.

2.1 Definitions:

A “Complaint” a complaints about conduct or service – expressions of dissatisfaction that may relate to customer service, quality of service, failure to provide information, competence or conduct of staff, errors of judgement or misinterpretation of information, decisions being unfair, unreasonable or lacking in merit, poor administrative processes, fees charged unknowingly or without prior agreement, breach of contract/agreement etc.

A “Complainant” is any client which is lodging a complaint.

2.2 Scope:

The procedure sets out the method for the submission of complaints with the Company when dealing with complaints received by the clients. The purpose of the Complaint Handling Policy (hereafter “CHP) outlines the procedures that are implemented when handling client complaints.

  1. Procedure for Handling Client Complaints

 

3.1 How to file a Complaint:

 

The Complainant are able to file a complaint to the Company by sending a written complaint to the Company’s email  [email protected]. All complaints must be in writing and shall be addressed, in the first instance, to the Customer Support Department. Where the Client receives a response, which does not satisfy him, he has the right to ask Support Department to escalate the complaint to the Compliance Department. The Clients shall provide the following details when submitting their complaints via email:

 

  • E-mail to [email protected];
  • The Client’s name and surname;
  • The Clients Trading Account Number;
  • The identification numbers of the relevant Orders and Positions (if applicable);
  • The date that the issue arose and the description of the issue;
  • Reference of any correspondent exchanged between the Company and the Client (if applicable); and Any other relevant information.

 

 

3.2 Handling Complaints:

 

  • Upon receipt of the complaint the Client shall receive a formal written acknowledgement within five (5) business days by the Support Department. The client will receive an email advising that the complaint has been received and it is under investigation.
  • The complaint will be investigated and if deemed necessary it will be escalated to the Compliance department where the complaint is addressed to be further verified and investigated.
  • The events leading to the complaint or grievance and all the information provided by the client, will be examined and assessed in order to reach a fair outcome.
  • The client will be informed at all the times by the Company in regard to the handling process of his/her complaint. In particular, the findings and proposed solutions that shall be clearly explained in written form to the client within the agreed time frame.
  • If an issue cannot be resolved within the specified period due to the complicated nature of the complaint or further clarification of circumstances is required, the complainant shall be notified of the new timeframes of response for the complaint.
  • In the event that the Company is unable to respond within two months, it informs the complainant of the reasons for the delay and indicates the period of time within it is possible to complete the investigation. This period of time shall not exceed three months from the submission of the complaint.
  • The Complainant/Client, if not satisfied with the resolution of the Complaint, may approach the Financial Services authority of Seychelles.

 

  1. Final Decision

 

When the Company reaches an outcome will inform the Client of it together with an explanation of the Client’s position and any remedy measures the Company intend to take (if applicable).

If the Client is not satisfied with the Company’s final decision the Client may submit his/her complaint to the FSA seek mediation for possible compensation.

It        is       mandatory       for       complainants       to       fill       in       the       Complaints       Handling       Form

(https://www.fsaseychelles.sc/wp–content/uploads/2019/11/Complaint–Form.pdf) before any complaint is investigated by the FSA. All the information indicated on the form must be provided. The Complaint Handling Form, which is available on the FSA website can be submitted by any of the following ways:

  • By Email;
  • By post; and
  • By hand-delivered.

Contact Details of the Financial Services Authority of Seychelles:

Website: https://www.fsaseychelles.sc/

Email: [email protected]

Postal Address: Financial Services Authority, Bois De Rose Avenue, P.O Box 991, Victoria, Mahé, Seychelles  Telephone: (+248) 438 08 00

 

Further       information      as     to     the      procedure     you     need      to     follow      can     be     found     on

https://www.fsaseychelles.sc/wp–content/uploads/2020/08/Complaints–Handling–Guideline.pdf

 

  1. Record Keeping

The Company shall maintain all complaints for a minimum period of seven years, by the Compliance Department.

  1. Review of the CHP

This Policy will be reviewed and/or amended at annually or as when considered necessary by the board of directors and/or the compliance officer or when changes or amendments to operating requirements are issued by the FSA.