In a recent media release the Office of the FAIS Ombud shared its commitment to resolve complaints in a procedurally fair, informal, economical and expeditious manner, with reference to what is equitable in all circumstances. The FAIS Ombud mentioned that it always explores every available avenue to resolve a complaint between the parties on an informal basis without the need to formally resolve the matter by way of a determination.
These settlements are now also published by the FAIS Ombud and can act as a practical educational guide for financial advisers, especially in the light that only 0, 4% of complaints are determined, whilst more than 13% are settled. Read more about the latest settlements in Thursday’s Moonstone Monitor.
