Financial Markets Conduct Regulations 2014

229F Information that must be given if complaint received


A financial advice provider (P), or a person engaged by P to give advice to P’s clients on P’s behalf, who receives a complaint must give to the complainant—


an overview of P’s internal complaints process; and


the following information about P’s dispute resolution scheme:


a statement to the effect that the complainant has access to a free, independent dispute resolution service, and that service may help to investigate or resolve the complaint if it is not resolved to the complainant’s satisfaction using P’s internal complaints process; and


the name of the dispute resolution scheme that P is a member of; and


the scheme’s contact details to make a complaint.


The information must be given no later than 2 working days after a complaint is received or, if it is not practicable to do so, as soon as practicable after that time.


However, the information need not be given if the complaint is earlier resolved to the complainant’s satisfaction.


In this regulation and Schedule 21A, a complaint is an expression of dissatisfaction relating to P’s financial advice service to which a response or a resolution is explicitly or implicitly expected (including dissatisfaction with any advice given by P or on P’s behalf).


In this regulation, dispute resolution scheme has the meaning set out in clause 1(1) of Schedule 21A.

Regulation 229F: inserted, on 15 March 2021, by regulation 12 of the Financial Markets Conduct (Regulated Financial Advice Disclosure) Amendment Regulations 2020 (LI 2020/132).