Complaints Training Guide for Customer Facing Departments

CCSV - Cyprus Securities and Exchange Commission (‘CySEC’)

• Queries/Informal Complaints are (but not limited to):
• Inquiries/questions
• Requests to investigate
• Request to receive a reply from the compliance department

Generally, informal complaints are the complaints which are easy to be handled internally and the client is satisfied with the information provided or the offer for settlement provided by the company’s representatives..

CCSV - Cyprus Securities and Exchange Commission (‘CySEC’)

• COMPLAINTS PROCEDURE - FORMAL COMPLAINTS

CC CY has implemented the following procedure for formal complaints handling:

• Upon reception of a formal complaint it is registered in an internal register with a unique reference number (URN).
• The URN is communicated to the complainant within 5 days upon reception of the complaint.
• The CIF informs the complainant that he should use the URN for any future communication with the CIF, the Financial Ombudsman/ CySEC.
• Investigation and final conclusion letter needs to be communicated to the complaint within two months from the date the initial complaint was received.
• In case more time is needed and a delay is expected the CIF needs to notify the complainant for the reasons of the delay and the expected time of completion. Maximum time of investigation is 3 months from reception of complaint.
• Monthly report to CySEC of all complaints received and how they are being handled.