FAIR Complaints Policy

Introduction and purpose

Ensuring that firms treat their customers fairly is at the heart of the FCA’s consumer protection agenda. The purpose of this policy is to provide assurance to customers that, if something goes wrong, their complaint will be dealt with promptly in a reasonable way and that they will get a fair outcome.

FAIR Private Capital Partners Limited (Reference number: 942017) is an appointed representative of Panima Capital Management Limited (FRN: 653812) which is authorised and regulated by the Financial Conduct Authority.

FAIR Private Capital Partners Limited (“FAIR”) and Panima Capital Management (“Panima”) are required to have in place effective and transparent procedures for the reasonable and prompt handling of complaints in relation to the services of FAIR.

Accordingly, this document sets out the complaints handling procedures that FAIR and Panima will follow in the event that a complaint is made.

Definition

A complaint is defined by the FCA as any oral or written expression of dissatisfaction - whether justified or not – about the provision, or failure to provide, a financial service (or a decision by a firm in relation to a consumer redress scheme). 

Application

This policy applies to complaints from any clients in relation to the performance of FAIR’s business. Generally, the complaint must allege that the complainant has suffered (or may suffer) financial loss, material distress or material inconvenience.  

Policy

FAIR will establish, implement and maintain an effective and transparent complaints management policy as follows:

Implementation

This policy will be always maintained to ensure it is up-to-date. 

Complaints Management Function

The Compliance Officer takes responsibility for oversight of the firm’s complaints handling procedures. FAIR must deal properly with any complaint made by a client whatever the subject of the complaint. 

FAIR’s policy is to investigate the complaint competently, diligently and impartially, obtaining additional information as necessary. FAIR will assess the complaint fairly and provide promptly an assessment of the complaint and what remedial action or redress (or both) is appropriate. 

The Compliance Officer will analyse complaints/complaints data to ensure the firm identifies and addresses any risks or issues. Themes and wider issue arising from such data will be reported to the governing body.

Financial Ombudsman Service - FOS

Where a complaint is referred to the FOS, FAIR will cooperate fully and comply promptly with any settlements or awards made by it. FAIR must look to learn from any mistakes that it has made and improve the service, procedures and controls to try to minimise any future complaints. 

Procedure

FAIR must implement the following procedures for dealing with complaints reasonably and promptly.  

Receiving complaints 

  • Complaints can be received by letter, email or telephone call. 

  • Complainants should be encouraged to submit their concerns in writing so that a full record of the nature of the complaint is recorded.

Complaints in the first instance should be forwarded to:

The Compliance Officer

Entity: Panima Capital Management Limited

Address: 48 Gracechurch Street, London, EC3V 0EJ

Email Address: andrew.myles@panima-capital.com

Phone Number: 0203 4733794

Copied to: support@fair-pcp.com

 

FAIR will not charge a fee for making a complaint to the firm.

Acknowledging the complaint

On receipt of a complaint, FAIR must:

  • send the complainant a written acknowledgement within 10 business days providing reassurance that it has received the complaint and is dealing with it; and

  • ensure the complainant is kept informed thereafter. FAIR has 8 weeks in which to respond to the complaint. If FAIR is unable to complete its investigation into the customers complaint within 4 weeks of receipt, it will provide the customer with a written explanation as to when it expects to be able to send a final response.

If after 8 weeks the final response has not been sent, FAIR will provide the customer with a written explanation as to why, when it expects to be able to provide one and inform the customer of their right, if an eligible complainant, to refer the complaint to the FOS, enclosing a copy of the FOS’s standard explanatory leaflet and website details.

Investigating the Complaint  

The Compliance Officer will investigate all complaints. The investigation will include a review of the client file and may, where necessary, involve contact with third parties. Key steps to complaint resolution should include:

  • investigate the complaint competently, diligently and impartially, obtaining additional information as necessary;

    • assess fairly, consistently and promptly:

    • the subject matter of the complaint.

    • whether the complaint should be upheld.

    • what remedial action or redress (or both) may be appropriate; and

    • if appropriate, whether it has reasonable grounds to be satisfied that another respondent may be solely or jointly responsible for the matter alleged in the complaint; and

  • comply promptly with any offer of remedial action or redress accepted by the complainant.

 

Responding to the complaint

Once the complaint has been investigated the Compliance Officer will implement the following process:

  • communicate FAIR’s position on the complaint and the client’s options. This includes informing clients/potential clients that they may be able to refer the complaint to FOS or that the client may be able to take civil action.

  • Refer to the fact that FAIR considers the complaint to have been resolved;

  • Inform the complainant that if still dissatisfied with the outcome, they may be able to refer to FOS;

  • Provide a website address for FOS;

  • Refer to the availability of further information on the website of FOS;

If writing to the customer, a copy of the letter must be retained with the complaints form and prior to sending, must be reviewed by the Complaints Officer who will initial and date the copy to confirm that they have reviewed the communication and that it is being dealt with in the appropriate manner.  The Complaints Form must be updated with the details of the initial response.

Complaints Forwarding

If FAIR has reasonable grounds to be satisfied that another firm may be solely or jointly responsible for the matter alleged in a complaint it may forward relevant correspondence to the other respondent provided that: 

  • it does so promptly;

  • it informs the complainant promptly of why the complaint has been forwarded and the contact details;

  • where jointly responsible for the fault alleged in the complaint it processes the complaints in line with this policy and procedure. 

Time Barring Complaints

If FAIR receives a complaint that is outside the time limits for referral to the FOS , it is possible to reject the complaint without considering it,  but must inform the complainant in a final response.

 

Complaints records and reporting

FAIR will keep a record of the complaints received and the measures taken for their resolution.