Complaints Management Policy

Introduction

The Company recognises the significance of maintaining an effective and efficient complaints management framework. We are dedicated to a customer-focused approach, welcome feedback, and demonstrate our commitment through our actions and the resources allocated for dispute resolution.

Key Personnel

Compliance Officer: Tasked with enforcing and reviewing this policy and ensuring staff training.

Complaints Manager: Andy Dyer

Review Process

Annual Review: Conducted by the Compliance Officer.

In Case of Major Compliance Breach: The Compliance Officer will reassess the procedure or engage an external compliance consultant.

Approval Process

This policy requires approval by the board of directors.

Overview

Definition of a Complaint: Any expression of dissatisfaction related to our products, services, or the complaints handling process, where a response or resolution is expected.

Reference Standards: Developed with reference to PSR 2017 Schedule 4 and FCA’s PSD Approach Document.

No Charge: There is no fee for submitting a complaint.

Dispute Resolution Procedure

1. Reporting a Complaint

Contact Methods:
Phone: 0800 041 8031
Email: complaints@regencyfx.com
Call Costs: Calls are charged at a basic rate, with no profit to the Company.

2. Investigation

• Acknowledgment: Complaints are acknowledged within five working days.
• Response Time: A final response is usually provided within fifteen working days, extending to a maximum of 35 working days in exceptional circumstances.

Assessment Factors:

• The nature of the complaint.
• Whether the complaint is justified.
• Suitable remedial actions or redress.
• Potential responsibility of other parties.

Actions Taken:

• Propose redress or remedial action if appropriate.
• Clearly communicate the assessment, decision, and any offer of redress.
• Promptly implement any accepted remedial action or redress.

Communication: Keep the complainant informed throughout the investigation.

3. Resolution

• Informing the Client: Notify the client once the issue is resolved and gather feedback.
• Escalation: If the client is unsatisfied, the issue will be escalated through higher levels of authority.

4. Escalation Process

• Procedure: Escalate unresolved complaints by increasing the seniority of staff involved.

5. Final Response

• Final Response Letter Requirements:
• Provide a detailed account of the dispute.
• Address all issues raised in the Complaint Form.
• Reference relevant terms of business.
• Detail any offered redress.
• Indicate that it is the Final Response for referral to the Financial Ombudsman Service.
• Inform the complainant of their right to refer the matter to the Financial Ombudsman Service within 6 months of the Final Response date.

6. Referral to the Ombudsman

• Ombudsman Referral: If a complaint remains unresolved within 8 weeks, the customer may refer it to the Financial Ombudsman.
• Full Cooperation: The Company will fully cooperate with Ombudsman proceedings to ensure prompt and satisfactory resolution.
• Ombudsman Literature: Available through a link on the Company’s website.

Record Keeping

• The Company retains comprehensive records of all complaints, investigations, and resolutions for a minimum of five years.

Currencycloud Acknowledgement

We are your first port of call for any queries or concerns, including complaints. We will handle these complaints in line with our complaints process.

We will acknowledge your complaint within 1 business day and aim to provide a full response as quickly as possible. You can reach us at:
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Email: complaints@regencyfx.com
Phone: +44 (0) 800 041 8031

We work with e-money and payments institution partners in providing you with our service, namely Currencycloud. Currencycloud ultimately provides you with geographically or functionally limited elements of regulated payments and e-money services in UK/EU/US. These partners have certain obligations as regulated financial services institutions, including around complaints. We keep them informed of the complaints we receive from you regarding the regulated payments and e-money services they ultimately provide to you. They oversee how we handle complaints to ensure we do this to the standard required under the regulations.

However, if for any reason your complaint regarding your payments and e-money services has not been acknowledged or dealt with by us, or if you have concerns about the way it has been handled, Currencycloud’s complaints information can be found here.