AUTHORISED FINANCIAL SERVICES PROVIDER:
Tradestream Logistics (Pty) Ltd is an Authorised Financial Services Provider, duly licensed under FSP number 55719. In its capacity as a licensee, Tradestream Logistics (Pty) Ltd is authorised solely to render intermediary services in respect of derivative instruments. The only financial product utilised by the company that falls within the classification of a derivative instrument is Forward Exchange Contracts, specifically in relation to its Trade Finance solution.
All other products and services offered by Tradestream Logistics (Pty) Ltd fall outside the scope of the Financial Advisory and Intermediary Services Act, 2002 and are accordingly excluded from the ambit of this licence as well as the FAIS Ombud.
As an authorised Financial Services Provider, we have certain specific duties towards you – our valued client. One of these duties is the establishment of a formal complaint management and resolution framework, which will enable you to exercise your rights as provided for in the Financial Advisory and Intermediary Services Act for products utilised by the company that falls within the classification of a derivate instrument.
The purpose of this document is to inform you of the procedure which will be followed in order to provide a resolution for the complaint which you have submitted.
In terms of the FAIS Act, a “complaint” means, an expression of dissatisfaction by a person to a provider or, to the knowledge of the provider, to the provider’s service supplier, relating to a financial product or financial service provided or offered by that provider which indicates or alleges, regardless of whether such an expression of dissatisfaction is submitted together with or in relation to a client query, that –
The financial services environment is complex. We will endeavour to address all reasonable requests from our clients, but may also refer you to a more appropriate facility. Where the complaint relates to any aspect of our service, or any disclosures that ought to be made by us, we will endeavour to address those complaints in writing, within 7 (seven) working days.
In instances where the complaint relates to any matter that is not within our control, such as product information or investment performance, we will forward the complaint to the product supplier concerned. Please be advised that we reserve the right to recover costs or damages that we may suffer as a result of clients making frivolous, vexatious or unreasonable claims.
The complaint will be entered into our Complaints Register on the same day that it is made and written confirmation of receipt will be forwarded to you. We will keep record of the complaint and maintain such record for 5 (five) years as required by legislation. Please take into consideration that the method of communication chosen by you will determine how quickly we will respond to your complaint.
The complaint will immediately be brought to the attention of the senior manager in charge of the relevant department for allocation to a trained and skilled person who is able to properly respond to your complaint (i.e. the Complaint Dispute Facilitator).
The complaint will be investigated, and we will revert to you with our preliminary findings within 7 (seven) working days from the date of receipt of the complaint. In all instances we will advise you of the reasons for our decisions.
The preliminary findings will be discussed with all internal parties concerned, and a proposed solution will be communicated to you within a further 7 (seven) working days. In all instances we will advise you of the reasons for our decisions.
If you are not satisfied with our solution, you may refer the complaint to the Managing Director of our Business. The Managing Director may amend the solution or confirm it. Please be informed that certain decisions may have to be approved by the management committee of the FSP. In such a case we will communicate that fact to you, as well as the date on which a decision relating to your complaint will be taken.
If, after having referred the complaint to the Managing Director, you are still not satisfied with the outcome, we will regard the complaint as being unsatisfactorily resolved. In such a case, you may approach the office of the Ombud for Financial Services Providers or take such other steps as may be advised by your legal representatives.
The Ombud is appointed by the Financial Services Conduct Authority (the “FSCA”) to act as an adjudicator in disputes between clients and financial services providers. The referral to the offices of the Ombud must be done in accordance with the provisions of section 27 of the Financial Advisory and Intermediary Services Act 2002 and the rules promulgated in terms of that section.
In instances where we have not been able to arrive at a resolution within 6 (six) weeks after you have submitted your complaint, you may refer the matter to the Ombud. The Ombud acts independently and objectively and has jurisdiction in respect of complaints relating to advice or intermediary services, which has arisen after 15 November 2002.
You must, if you wish to refer the matter to the Ombud, do so within 6 (six) months from the date of the notice in which we inform you that we are unable to resolve your complaint to your satisfaction. The Ombud will not adjudicate in matters exceeding a value of R3 500 000.
The FAIS Ombud – Adv. John Simpson – may be contacted at his offices in Pretoria at the following address:
Physical Address: Telephone: +27 12 762 5000 / +27 12 470 9080
125 Dallas Avenue Facsimile: +27 12 470 9097 / +27 12 348 3447
Menlyn Central Postal Address: P.O. Box 41, Menlyn Park, 0063
Waterkloof Glen E-mail Address: info@faisombud.co.za
Pretoria , 0010 Website: www.faisombud.co.za
