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  • CRA-4.7 CRA-4.7 Complaints

    • CRA-4.7.1

      Licensees must establish and maintain written policies and procedures to resolve complaints in a fair and timely manner.

      Amended: April 2023
      Added: April 2019

    • CRA-4.7.2

      A licensee must provide, in a clear and conspicuous manner on their website and in all physical locations the following disclosures:

      (a) the licensee's mailing address, email address, and telephone number for the receipt of complaints; and
      (b) [This Subparagraph was deleted in April 2023];
      (c) the CBB's mailing address, website, and telephone number.
      Amended: April 2023
      Added: April 2019

    • CRA-4.7.3

      Licensees must notify to the CBB any change in their complaint policies or procedures within seven days prior to the implementation of the new complaint policy.

      Amended: April 2023
      Added: April 2019

    • CRA-4.7.4

      The complaint handling procedures of a licensee must provide for:

      (a) The receipt of written complaints;
      (b) The appropriate investigation of complaints;
      (c) An appropriate decision-making process in relation to the response to a customer complaint;
      (d) Notification of the decision to the customer;
      (e) The recording of complaints; and
      (f) How to deal with complaints when a business continuity plan (BCP) is operative.
      Added: April 2019

    • CRA-4.7.5

      A licensee's internal complaint handling procedures must be designed to ensure that:

      (a) All complaints are handled fairly, effectively and promptly;
      (b) [This Subparagraph was deleted in April 2023];
      (c) The number of unresolved complaints referred to the CBB is minimized;
      (d) The employee responsible for the resolution of complaints has the necessary authority to resolve complaints or has ready access to an employee who has the necessary authority;
      (e) Relevant employees are aware of the licensee's internal complaint handling procedures that they comply with them and receive training periodically to be kept abreast of changes in procedures; and
      (f) Complaints are investigated by an employee of sufficient competence who, where appropriate, was not directly involved in the matter which is the subject of a complaint.
      Amended: April 2023
      Added: April 2019

    • Response of Complaints

      • CRA-4.7.6

        Licensees must acknowledge in writing customer written complaints within 5 working days of receipt.

        Added: April 2019

      • CRA-4.7.7

        Licensees must respond to a client complaint promptly and within a period of 4 weeks of receiving the complaint or provide the complainant with an appropriate explanation as to why the licensee is not, at that time, in a position to respond and must indicate by when the licensee will respond.

        Amended: April 2023
        Added: April 2019

    • Redress

      • CRA-4.7.8

        Licensees 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: April 2019

      • CRA-4.7.9

        Where a licensee 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: April 2019

      • CRA-4.7.10

        Where a licensee decides that redress in a form other than compensation is appropriate, it must provide the redress as soon as practicable.

        Added: April 2019

      • CRA-4.7.11

        A licensee must inform the clients who have filed a complaint with the licensee and are not satisfied with the response received as per Paragraph CRA-4.7.7, 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.

        Amended: April 2023
        Added: April 2019

    • Reporting of Complaints

      • CRA-4.7.12

        Licensees must submit to the Consumer Protection Unit at the CBB, a quarterly report summarising the following:

        (a) The number of complaints received during the quarter;
        (b) The substance of the complaints;
        (c) The number of days it took the licensee to acknowledge and to respond to the complaints; and
        (d) The status of the complaint, including whether resolved or not, and whether redress was provided.
        Amended: April 2023
        Added: April 2019

      • CRA-4.7.13

        Where no complaints have been received by the licensee within the quarter, a 'nil' report must be submitted to the Consumer Protection Unit at the CBB.

        Amended: April 2023
        Added: April 2019

    • Record of Complaints

      • CRA-4.7.14

        A licensee must maintain a record of all client complaints. The record of each complaint must include:

        (a) The identity of the complainant;
        (b) The substance of the complaint;
        (c) The status of the complaint, including whether resolved or not, and whether redress was provided; and
        (d) All correspondence in relation to the complaint.

        Such records must be retained by the licensee for a period of 10 years from the date of receipt of the complaint.

        Added: April 2023