1. Purpose

In terms of the General Code of Conduct, a Financial Services Provider must maintain an internal complaints resolution procedure in the event that a client complains about a financial service rendered by Bay Capital Family Office or a Representative of Bay Capital Family Office. The complaints procedure must be based on the following outcomes:

Transparency and Visibility:

• Ensuring that complainants have full knowledge of the procedures that will be followed when submitting a complaint

Accessibility of Facilities:

• Ensuring that clients are provided with an easily accessible facility in order to submit a complaint at any office or branch of Bay Capital Family Office

Fairness:

• Ensuring that the complaint resolution process is fair to both a complainant and Bay Capital Family Office

This policy outlines Bay Capital Family Office’s commitment to handling client complaints with fairness, transparency, and efficiency, in line with the requirements of the FAIS Act and the General Code of Conduct. Our aim is to resolve complaints timeously, ensuring all parties are treated equitably and with respect.

2. Definitions

• Complaint: A specific grievance regarding a financial service provided by Bay Capital Family Office or its representatives after the FAIS Act’s commencement, where it is alleged that:
  • The service contravened the FAIS Act and caused or may cause financial harm.
  • The service was rendered negligently or unfairly.
• Complainant: A client who lodges a formal complaint with Bay Capital Family Office.
• Client: An individual or group receiving or intending to receive a financial service, including beneficiaries and legal successors.
• Ombud: The Ombud for Financial Services Providers.
• Internal Complaint Resolution System: The framework established by Bay Capital Family Office to manage and resolve client complaints.
• Resolution: The process of investigating and concluding a complaint via the internal resolution system.

3. Our Commitment to Fair Complaint Resolution

Bay Capital Family Office strives to deliver financial services with due skill, diligence, and integrity. While we are committed to high service standards, we acknowledge that clients may occasionally feel dissatisfied. In such cases, we are dedicated to a fair and accessible complaints resolution process, ensuring that:

• Procedures for submitting complaints are clearly communicated and available in writing.
• All complaints are handled promptly, respectfully, and transparently.
• All relevant staff are trained and empowered to resolve complaints effectively.
• Clients receive timely feedback, and all decisions are supported with reasons.
• If necessary, an independent mediator will be appointed to assist in resolution.
• All complaint records are maintained for at least 5 years.
• Preventative actions are implemented to avoid recurrence of similar issues.

4. Internal Complaints Resolution Procedure

When a complaint is received, the following steps will apply:

1. Provide the complainant with a copy of this policy (Annexure B).
2. If the complaint was made verbally, request that it be resubmitted in writing.
3. Once in writing, the complaint is logged in the Complaints Register within one working day.
4. The Complaints Officer issues written acknowledgement of receipt within one working day.
5. The complaint is referred to the appropriate senior manager and assigned to a Complaint Dispute Facilitator.
6. Review the matter and, if relevant, notify our professional indemnity insurers.
7. The Facilitator will investigate and engage internal stakeholders to understand the issue fully.
8. Preliminary findings will be shared with the complainant within 7 working days, and further documentation may be requested.
9. Where applicable, the matter will be referred to the product provider, with the complainant notified.
10. A formal response and resolution will be provided within 14 working days.
11. The response may include:
    • A settlement offer
    • Suggested corrective action
    • Dismissal with reasons
    • Apology and remedial measures taken
12. If unresolved within 6 weeks, the complainant is informed of their right to escalate the matter to the Ombud.
13. The complaint’s status is updated in our register and all records filed for 5 years.
14. Serious or non-routine complaints are escalated to the Compliance Officer for further action.

5. Annexure B: Complaints Procedure for Clients

Relevance and Submission
Complaints must relate to financial services provided under the FAIS Act. Clients are requested to submit complaints in writing and retain proof of delivery.

Process

1. Submit the complaint in writing, with:
   1. Full name and contact details
   2. Detailed description of the complaint and relevant dates
   3. Name of the advisor involved
   4. Preferred communication method (email, fax, post)
2. The complaint will be:
   1. Logged the same day
   2. Acknowledged in writing
   3. Handled by a designated Facilitator
3. Preliminary findings shared within 7 working days.
4. Final response provided within another 7 working days.
5. If dissatisfied, escalate to the Managing Director for review.
6. If still unresolved, refer to the Ombud within 6 months of our final notice.

Ombud Contact Information

Ombud for Financial Services Providers

• Physical Address: Kasteel Park Office Park, Orange Building, 2nd Floor, Cnr Nossob & Jochemus Street, Erasmus Kloof, Pretoria, 0048
• Tel: +27 12 762 5000 / +27 12 470 9080
• Fax: +27 86 764 1422 / +27 12 348 3447
• Email: info@faisombud.co.za
• Website: www.faisombud.co.za