Last Update: 31 July 2017
Complaints Policy and Procedure
Finpoint is committed to providing a quality service for its registered users and working in an open and accountable way that builds the trust and respect of all our stakeholders. One of the ways in which we can continue to improve our service is by listening and responding to the views of our customers and stakeholders, and in particular by responding positively to complaints, and by putting any mistakes right.
Therefore we aim to ensure that:
• making a complaint is as easy as possible;
• we treat a complaint as a clear expression of dissatisfaction with our service which calls for
an immediate response;
• we deal with it promptly, politely and, when appropriate, confidentially;
• we respond in the right way – for example, with an explanation, or an apology where we have got things wrong, or information on any action taken etc;
• we learn from complaints, use them to improve our service, and review annually our complaints policy and procedures.
We recognise that many concerns will be raised informally, and dealt with quickly. Our aims are to:
• resolve informal concerns quickly;
• keep matters low-key;
An informal approach is appropriate when it can be achieved. But if concerns cannot be satisfactorily resolved informally, then the formal complaints procedure should be followed, see below.
Definition: FINPOINT defines a complaint as ‘any expression of dissatisfaction (with FINPOINT, with a member of staff, or with our platform) that relates to FINPOINT and that requires a formal response’.
Purpose: The formal complaints procedure is intended to ensure that all complaints are handled fairly, consistently and wherever possible resolved to the complainant’s satisfaction.
FINPOINT’s responsibility will be to:
• acknowledge the formal complaint in writing;
• respond within a stated period of time;
• deal reasonably and sensitively with the complaint;
• take action where appropriate.
A complainant’s responsibility is to:
• bring their complaint, in writing, to FINPOINT’s attention normally within 8 weeks of the issue arising;
• raise concerns promptly and directly with a member of staff in FINPOINT;
• explain the problem as clearly and as fully as possible, including any action taken to date;
• allow FINPOINT a reasonable time to deal with the matter;
• recognise that some circumstances may be beyond FINPOINT’s control.
Responsibility for Action: All Staff and Directors of FINPOINT.
Confidentiality: Except in exceptional circumstances, every attempt will be made to ensure that both the complainant and FINPOINT maintain confidentiality. However the circumstances giving rise to the complaint may be such that it may not be possible to maintain confidentiality (with each complaint judged on its own merit). Should this be the case, the situation will be explained to the complainant.
Monitoring and Reporting: Directors of FINPOINT will receive annually an anonimized report of complaints made and their resolution.
Formal Complaints Procedure
In the first instance, if you are unable to resolve the issue informally, you should write to the member of staff who dealt with you, or their manager, so that he or she has a chance to put things right. If your complaint concerns a Director of FINPOINT, rather than a member of FINPOINT’s staff, you should write formally to the individual concerned. In your letter you should set out the details of your complaint, the consequences for you as a result, and the remedy you are seeking.
You can expect your complaint to be acknowledged usually within 48 hours of receipt. You should get a response and an explanation within 15 working days.
Where a complaint is resolved over the phone or in person, within three business days of receipt, it is expected that staff will confirm orally that a written acknowledgement will be sent including information about the ombudsman service, in the form of a summary resolution communication.
Our contact details can be found on the Contact Us part of the FINPOINT Website.
If you are not satisfied with the initial response to the complaint then you can write to FINPOINT’s Chief Executive and ask for your complaint and the response to be reviewed. You can expect the Chief Executive to acknowledge your request within 4 working days of receipt and a response within 15 workings days.
FINPOINT’s aim is to resolve all matters as quickly as possible. However, inevitably some issues will be more complex and therefore may require longer to be fully investigated. Consequently timescales given for handling and responding to complaints are indicative. If a matter requires more detailed investigation, you will receive an interim response describing what is being done to deal with the matter, and when a full reply can be expected and from whom.
You will be kept informed thereafter about the progress of the complaint together with the right to refer the complaint to the Financial Services Ombudsman (FOS) made clear in all correspondence.
Where redress is appropriate, we will provide the complainant with fair compensation for any acts or omissions for which it was responsible. The Chief Executive Officer has the necessary authority to offer redress.
The firm will comply with redress offers accepted by the complainant. Redress need not be financial and could include, for example; an apology. The final response letter will explain the complainant’s right to refer the matter to the Financial Ombudsman Service and enclose a copy of the Financial Ombudsman Service’s leaflet.
The response will also indicate that the complainant has a six month timescale to refer the matter to the Ombudsman, which commences on the date that the final response is issued by the firm.
The result of the investigation will be entered into the Complaints Register. A complaint will be deemed closed
• Once the firms investigation has been completed and a Final Decision Letter has been issue to the complainant; or
• Where the firm has received confirmation that the complainant is satisfied with the outcome of the investigation and a summary resolution communication has been issued (resolved within three business days from receipt); or
• Where the complainant has indicated in writing acceptance of the firm’s earlier response, where appropriate
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