Group Internal Complaints Handling Procedures
“The Group” means GHC Group Limited (and any successor companies as applicable) and currently comprises the following Companies:
GHC Wealth Management Limited (598281)
GHC Capital Markets Limited (FRN 152998)
Resilient Fund Managers Ltd (FRN 146853)
and their respective Nominee Companies.
Both the MiFID legislation (11/2007) and the FCA Rules (the DISP Dispute Resolution: Complaints Handbook – revised 05/2011 and 08/2015) require a firm to have an internal complaints handling procedure.
The Group shall define a ‘complaint’ as any oral or written expression of dissatisfaction by a person about the provision of, or failure to provide, a financial service, which alleges that the complainant has suffered (or may suffer) financial loss, material distress or material inconvenience.
To aid consumer awareness of the protections offered by the DISP rules, the firm must:
These summary details must at a minimum cover at least:
This briefing paper is to be considered as the publication containing the appropriate summary details and will be sent to all complainants when acknowledging a complaint.
Once a complaint has been received, the firm must:
Factors that may be relevant in the assessment of a complaint may include the following:
Where a complaint against a respondent is referred to the FOS, the respondent must cooperate fully with the FOS, and comply promptly with any settlements or awards made by it.
If a generic complaint has been lodged against the company it is likely that the Compliance manager will respond in the first instance. Where a specific complaint is made (for example, performance of lack of provision of a service or activity) then it will be directed to the relevant department for response. At all times the Compliance manager will be available for advice and assistance.
On receipt of a complaint, a respondent must:
All complaints are logged onto a database held by the Compliance manager. In practice therefore, within five business days, the Compliance manager will issue the written acknowledgement, or holding letter, required at (1) above. In order to keep a complainant informed as required at (2) a further letter should be sent within four weeks.
Within eight weeks of receiving a complaint the firm must send the complainant a final response, being a written response which:
The firm must keep a record of each complaint received and the measures taken for its resolution and retain that record for a minimum period of five years from the date of its receipt. The record will include the name of the complainant, the nature of the complaint and all correspondence between the firm and the complainant.
A complaint may only be dealt with under the FOS if it is brought by or on behalf of an eligible complainant. A complaint may be brought on behalf of an eligible complainant (or a deceased person who would have been an eligible complainant) by a person authorised by the eligible complainant or authorised by law. It is immaterial whether the person authorised to act on behalf of an eligible complainant is himself an eligible complainant.
An eligible complainant must be a person that is:
In practice therefore all retail clients of the firm will be eligible complainants. The firm will not have any clients falling within the criteria of (2) above.
The following are not eligible complainants:
The FOS can only consider a complaint if:
The FOS cannot consider a complaint if the complainant refers it to the FOS:
If a respondent receives a complaint which is outside the time limits for referral to the FOS it may reject the complaint without considering the merits, but must explain this to the complainant in a final response and indicate that the FOS may waive the time limits in exceptional circumstances.
A firm must appoint an individual at the the firm to have responsibility for oversight of the firm’s compliance with the DISP rules. The individual appointed must be carrying out a governing function at the firm.
The individual appointed for overall oversight of the group firms’ compliance is Rachel Hardy (Managing Director). The day to day administration of all complaints is delegated to the Compliance manager.
The above procedure must be adhered to in respect of all complaints. All staff are required to notify any complaints received to the Compliance manager.
This document supersedes all previous procedures relating to complaints handling.