Redress
SIO-5.7.8
A stablecoin issuer must decide and communicate how it proposes to provide the customer with redress. Where appropriate, the licensee must explain the options open to the customer and the procedures necessary to obtain the redress.
Added: July 2025SIO-5.7.9
Where a stablecoin issuer decides that redress in the form of compensation is appropriate, the licensee must provide the complainant with fair compensation and must comply with any offer of compensation made by it which the complainant accepts.
Added: July 2025SIO-5.7.10
Where a stablecoin issuer decides that redress in a form other than compensation is appropriate, it must provide the redress as soon as practicable.
Added: July 2025SIO-5.7.11
Stablecoin issuers must inform the clients who have filed a complaint with the licensee and are not satisfied with the response received as per Paragraph SIO-5.7.7, about their right to forward the complaint to the Consumer Protection Unit at the CBB within 30 calendar days from the date of receiving the letter from the licensee.
Added: July 2025
