Definition of a Complaint
Under the complaint handling rules, Hoch Capital Ltd (hereinafter called the “Company”) shall deal with any expression of dissatisfaction about any financial services activity provided or withheld by the Company.
Complaints should be in writing on the specified form provided by the Company. The Company considers important and essential to pay the proper attention to each any every complaint made by a client, irrelevant of the subject matter of the complaint.
Below is a general description:
«complainant» means any person, natural or legal, which is eligible for lodging a complaint to a CIF or who has already lodged a complaint.
«complaint» means a statement of dissatisfaction addressed to a CIF by a complainant relating to the provision of investment services.
A CIF is required to establish, implement and maintain effective and transparent procedures for the reasonable and prompt handling of complaints or grievances received from retail clients or potential retail clients, and to keep a record of each complaint or grievance and the measures taken for the complaint’s resolution.
A CIF is required to:
(a) Apply a complaints management policy, which is defined and endorsed by the senior management and the board of directors, who will be responsible for its implementation and for monitoring the CIF’s compliance with it.
(b) Ensure that the complaints management policy is included in its internal operation manual as stated in paragraph 14(1).
(c) Ensure that the complaints management policy is available to all relevant stuff of the firm through adequate internal channels of communication.
(4) CIF must ensure that it has a complaints management function, which enables complaints to be investigated fairly and possible conflicts of interest to be identified and mitigated.
(5) A CIF is required to register the complaints it receives on an internal archive, as quickly as possible, and in an appropriate manner.
(6) A CIF is required to provide to the Commission information regarding the complaints it receives via Document 144-01-16. The said Document is submitted in an electronic form to the Commission on a trimonthly basis, the details/dates of submission will be set in a Commission Circular.
(7) A CIF is required to analyse, on an on-going basis, complaints handling data , to ensure that they identify and address any recurring or systemic problems, and potential legal and operational risks, for example by:
(a) Analyzing the causes of individual complaints so as to identify root causes common to types of complaints,
(b) Considering whether such root causes also affect other processes or financial means, including those not directly complained of; and
(c) Correcting, where reasonable to do so, such root causes.
(8) A CIF is required to:
(a) On request or when acknowledging receipt of a complaint, provide written information regarding their complaints handling process.
(b) Publish details of their complaints-handling process in an easily accessible manner, for example in brochure, pamphlets, contractual documents or via the CIF’s website.
(c) Provide clear, accurate and up-to-date information about the complaints-handling process which includes:
(i) Information of how to lodge a complaint (e.g. the type of information to be provided by the complainant, the identity and contact details of the person or department to whom the complaint should be directed),
(ii) The process that will be followed when handling a complaint (e.g. when the complaint will be acknowledged , indicative handling time, etc
The Compliance Officer shall deal with the client’s complaint unless, in cases where there might be a conflict of interest, the Chief Executive Officer of the Company shall deal with such a complaint.
The Client who wishes to proceed with filing a Complaint is requested to fill in the necessary form.
A written acknowledgment from the Compliance Department shall be sent to the client within forty eight (48) hours confirming receipt of the complaint and the estimated time under which the client shall be given a reply.
Within one (1) week of receipt, the Company shall send the client a Final Response or a holding response, which will explain why it is not yet in a position to resolve the complaint and give an indication of when further contact shall be made. In such a case an answer shall be given within another one (1) week of receipt.
Within two (2) weeks of receipt of the complaint, the Company shall send to the client either a final response
Upon sending the final response, the client shall be given a period of four (4) weeks to respond. If a response is not received within four (4) weeks then the Company shall not be obliged to take the complaint further unless further correspondence is received from the client indicating that he/she is still dissatisfied.
The Company shall inform the client that he/she may refer the complaint with a copy of the final response within a period of six (6) months to the competent authorities for further investigation if deemed to be appropriate.