• Part 14: Part 14: Complaints and Compensation

    • Article 86 - Complaints

      The Regulatory Authority may make Rules:

      (1) relating to the manner in which, and time within which, Authorised Firms deal with complaints received from their clients or customers;
      (2) establishing an independent body:
      (A) to hear complaints made against Authorised Firms by their clients or customers; and
      (B) to require Authorised Firms to pay compensation to the clients or customers that refer such complaints to that body in the event that such complaints are upheld;
      (3) relating to the procedure for referring a complaint to the independent body referred to in Article 86(2) and the procedure for such a complaint to be heard by that body; and
      (4) governing the funding of the independent body referred to in Article 86(2) and requiring Authorised Firms to contribute to such funding,

      and such Rules shall be binding on all Authorised Firms.

    • Article 87 - Compensation

      (1) The Regulatory Authority may make Rules:
      (A) establishing a fund for the payment of compensation to clients or customers of Authorised Firms in the event that those Authorised Firms default in the payment of monies owed to those clients or customers;
      (B) governing the eligibility of clients or customers to be so compensated out of the assets of the compensation fund referred to in Article 87(1)(A); and
      (C) governing the funding of the compensation fund referred to in Article 87(1)(A) and requiring Authorised Firms to contribute to such funding,
      and such Rules shall be binding on all Authorised Firms.