LEGAL

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COMPLAINTS PROCEDURE

Introduction

The purpose of this procedure is to provide clients with information on how to lodge a complaint.

Anchor Capital is committed to handling client complaints in a timely and fair manner and has implemented systems and procedures to satisfy this commitment.

This procedure has been formulated in accordance with the provisions of the Financial Advisory and Intermediary Services Act, 37 of 2002 (“FAIS”), the relevant provisions contained in the Collective Investment Schemes Control Act, 45 of 2002 (“CISCA”), the Long-term Insurance Act, 52 of 1998 and the Policyholder Protection rules issued thereunder (“LTIA”), as well as the principles embodied in the “Treating Clients Fairly” ( “TCF”) initiative published by the Financial Services Conduct Authority.

Commitment to Client Service

Our commitment is to provide excellent service to our clients.

All complaints are taken seriously and we aim to resolve complaints to the satisfaction of our clients wherever possible.

Scope

• This procedure applies to all subsidiaries and affiliates of the Anchor Capital.
• Any client may lodge a complaint in the manner described in this procedure.

Definition of Complaint

• For the purposes of this procedure, “complaint” means an expression of dissatisfaction by a person to Anchor or, to the knowledge of Anchor, to Anchor’s service supplier relating to a financial product or financial service provided or offered by Anchor which indicates or alleges, regardless of whether such an expression of dissatisfaction is submitted together with or in relation to a client query, that
  • (a) Anchor or its service supplier has contravened or failed to comply with an agreement, a law, a rule, or a code of conduct which is binding on the provider or to which it subscribes;
  • (b) Anchor or its service supplier’s maladministration or wilful or negligent action or failure to act, has caused the person harm, prejudice, distress or substantial inconvenience; or
  • (c) Anchor or its service supplier’s has treated the person unfairly;
• Complaints which do not satisfy the above definition, while always taken very seriously, will not necessarily follow the procedure outlined in this procedure.

Receiving of a Complaint

• Clients may complain by telephone, however, to ensure that all complaints are properly understood and speedily dealt with, clients are urged to submit complaints, where possible, in writing (via email, fax or letter).
• Clients may complain by:
  1. Email to compliance@anchorcapital.co.za
  2. Fax to: +27 86 655 3285
  3. Registered Letter to: Anchor Capital Compliance, P.O. Box 1337, Gallo Manor, Sandton, 2052
  4. Phone to: +27 11 591 0677
• The complaint must contain all relevant information and copies of relevant documentation must be attached to the written complaint.
• Anchor Capital will confirm receipt of a complaint to the complainant within 48 hours of receipt. Anchor Capital will also endeavour to provide the complainant with a time frame within which it is likely to complete its investigation into the complaint but, depending on the complexity of the complaint, this may not always be possible.

Resolution of a Complaint

• Anchor Capital will endeavour to resolve all complaints received in a timely and fair manner.
• Where a complaint is resolved in favour of the complainant, a full and appropriate level of redress will be offered in writing as soon as possible.
• Where a complaint has not been resolved in favour of the complainant within six weeks of receipt of the complaint, Anchor Capital will send a communication that addresses all the issues and advises the complainant:
  1. that the complaint may be referred to the FAIS Ombud or other relevant adjudicator if the complainant wishes to pursue the complaint, together with the contact details of such adjudicator; and
  2. that it should be done within 6 months of receipt of such notification.