LEGAL

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Complaints Procedure

 

Introduction

The purpose of this document is to provide clients with information on how to lodge a complaint.
Anchor Stockbrokers is committed to handling client complaints in a timely and fair manner and has implemented systems and procedures to satisfy this commitment.

This document has been formulated in accordance with the provisions of the Financial Advisory and Intermediary Services Act, 37 of 2002 (“FAIS”), Section 11 of the JSE Limited Rules, 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.

Client’s Procedure For Lodging a Complaint

 

If a client feels that ANCHOR STOCKBROKERS or a staff member of ANCHOR STOCKBROKERS contravened or failed to comply with any instruction given to ANCHOR STOCKBROKERS, or any agreement or mandate entered into; or that ANCHOR STOCKBROKERS or a staff member of ANCHOR STOCKBROKERS acted dishonestly, negligently or recklessly or that ANCHOR STOCKBROKERS or a staff member of ANCHOR STOCKBROKERS treated the client unreasonably or unfairly and that this led to the client suffering a financial loss, the client is entitled to lodge a complaint.

To lodge a complaint the client must send their complaint in writing to Liza Maartens, P O Box 1337, Gallo Manor 2052 or e-mail it to lmaartens@anchorsb.co.za  with the following information:

1. Client name, surname and contact details;
2. A complete description of the complaint
3. The name of person that provided the client with the financial services;
4. The date on which the matter occurred;
5. All the supporting documentation relating to the client’s complaint;
6. Preferred method of communication i.e. email or post.

Timeous Response To Complaints

 

As soon as ANCHOR STOCKBROKERS receives the complaint, we will acknowledge receipt thereof in writing.  We will investigate the complaint to ensure that it is resolved within 4 weeks of receiving the complaint.  If ANCHOR STOCKBROKERS is not able to resolve the compliant in the said period ANCHOR STOCKBROKERS will advise the complainant with an appropriate explanation as to why ANCHOR STOCKBROKERS is not, at that time, in a position to respond and will at the same time indicate by when ANCHOR STOCKBROKERS will respond.

Unresolved Client Complaints

 

If ANCHOR STOCKBROKERS is unable to resolve the complaint to the satisfaction of the complainant the complainant lodge the unresolved complaint, in writing, with the Director:  Surveillance, giving full particulars of the matter concerned.

Director:  Surveillance
JSE Limited
Private Bag X991174
Sandton
2146

The JSE Surveillance Department will only consider an unresolved complaint if the complaint is lodged with the Director:   Surveillance within 4 weeks of the receipt by the complainant of ANCHOR STOCKBROKERS’ response referred to above and within 6 months of the conduct by ANCHOR STOCKBROKERS giving rise to the complaint.

The JSE Surveillance Department may request ANCHOR STOCKBROKERS and the complainant to provide copies of all relevant correspondence and documentation that is required to review the complaint.

If the JSE Surveillance Department is unable to facilitate a resolution of the complaint within 4 weeks of lodgement of the complaint with it, the Director:  Surveillance will refer the unresolved complaint to the Company Secretary of the JSE.

Reporting of a Dispute

 

An unresolved client complaint that the JSE Surveillance Department is not able to resolve will be reported as a dispute by the Director: Surveillance to the Company Secretary of the JSE if the client elects to follow the dispute resolution process.

A dispute between ANCHOR STOCKBROKERS and another member in respect of transactions in equity securities must be reported in writing, to the Company Secretary of the JSE within 1 week of the circumstance giving rise to the dispute having arisen.

A dispute between ANCHOR STOCKBROKERS and a client must be reported within 6 months of the circumstance giving rise to the dispute having arisen.

Declaration of a Dispute

 

The Company Secretary will consider the dispute and if declared a dispute refer the dispute to a duly appointed Ombud for consideration.

Costs of the Proceedings

 

The parties to any dispute resolution proceeding may be required to pay to the JSE, before proceedings commence, such amount as the JSE may determine as a deposit to cover a portion of the costs of the proceedings.

The Ombud may, as part of his award and as he deems appropriate in the circumstances, make an order on costs which may include an order against the unsuccessful party for payment of all the costs of the proceedings.

Member Complaints Against the JSE

 

Should ANCHOR STOCKBROKERS wishes to lodge a complaint against the JSE ANCHOR STOCKBROKERS must do so in writing.  The JSE or the Chairman of the SRO Oversight Committee will respond to a complaint within 4 weeks of receiving the complaint or, within such period, provide the complainant with an appropriate explanation as to why they are not able to respond and indicate by when they will respond.

All ANCHOR STOCKBROKERS employees are provided with a copy of the Complaints and Dispute procedure and are required to ensure they comply with the procedures at all times. The document forms part of employee’s conditions of employment.

Should any employee be found to be in breach of this policy, they will be dealt with in terms of ANCHOR STOCKBROKERS’ internal disciplinary process.


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