Complaints Resolution Procedure

Complaints Resolution Procedure

1. Introduction:
This policy constitutes the complaints policy and internal complaint resolution procedures
in terms of Part XI of the General Code of Conduct for Authorised Financial Services
Providers and Representatives.
2. Purpose:
Midori FX (Pty) Ltd is an authorised Financial Services Provider with the authority torender advisory and intermediary financial services to clients in terms of the Financial
Advisory and Intermediary Services Act (the Act). In terms of the Act we have certain
duties to fulfil. One of these duties is to offer our clients a Complaints Resolution
Procedure, which will enable our clients to exercise their rights as provided in the Act.
3. Definitions:
For purposes of this policy, the following words and/or phrases are defined herein:“complaint” means a complaint as defined in section 1(1) of the Act (excluding thereference to section 26(1)(a)(iii) therein), submitted by a client to a provider for
purposes of resolution by the provider;“internal complaint resolution system and procedures”, in relation to a provider and aclient, means the system and procedures established and maintained by the provider inaccordance with this Code for the resolution of complaints by clients;“Ombud” means the Ombud for Financial Services Providers referred to in section 20(2)of the Act;
“resolution”, or “internal resolution”, in relation to a complaint and a provider, means
the process of the resolving of a complaint through and in accordance with the internal
complaint resolution system and procedures of the provider;“Rules” means the Rules on Proceedings of the Office of the Ombud for Financial
Services Providers, 2002.
4. Rules for handling a complaint:
Midori FX (Pty) Ltd must:a) Request that any client who has a complaint against Midori FX (Pty) Ltd lodge
such a complaint in writing;b) Maintain a record of such a complaint for a period of five years;c) Handle complaints from clients in a timely and fair manner;
2|PageMidori FX (Pty) Ltd is an Authorised Financial Services Provider registered and existing in the Republic of South
Africa under registration number 2023/526901/07 and regulated by the Financial Sector Conduct Authority underlicense number 53077, pursuant the Financial Intermediary and Services Act 37 of 2002 (“FAIS’).

Complaints Resolution Procedured) Take steps to investigate and respond promptly to such complaints; ande) Where such a complaint is not resolved to the client’s satisfaction, advise the clientof any further steps which may be available to the client in terms of the Act or any
other law.
5. Client procedure for lodging a complaint
If a client feels that any key individual and / or representative of Midori FX (Pty) Ltd
provided them with financial advisory or intermediary services that do not comply with
the Act or if they suffered financial losses because of negligent or intentional error, theclient is entitled to lodge a complaint.
To lodge a complaint the client must send their complaint by email tocomplaints@midorifx.com, with the following information:a) Client name, surname and contact details;b) A complete description of the complaintc) The name of the key individual and/or representative that provided the client withthe financial services;d) The date on which the matter occurred;e) All the supporting documentation relating to the client’s complaint;f) Preferred method of communication i.e. fax, email or post.
6. Midori FX (Pty) Ltdprocedure for receiving a complaint
As soon as Midori FX (Pty) Ltd receives the complaint, we will acknowledge receipt
thereof in writing. We will investigate the complaint to ensure that it is resolved within
30 working days from receipt thereof.
If we are unable to resolve the client’s complaint within 30 working days, or unable toresolve the complaint to client’s satisfaction, the client has the right to refer the complaint
to the office of the FAIS Ombud appointed specifically for this purpose.
The contact details of the FAIS Ombud are as follows:
PO Box 74571
Lynwood Ridge
0040
Telephone: 012 470 9080 / 012 762 5000
Fax: 012 348 3447
Email: info@faisombud.co.za

3|PageMidori FX (Pty) Ltd is an Authorised Financial Services Provider registered and existing in the Republic of South
Africa under registration number 2023/526901/07 and regulated by the Financial Sector Conduct Authority underlicense number 53077, pursuant the Financial Intermediary and Services Act 37 of 2002 (“FAIS’).

Complaints Resolution Procedure

7. Type of complaints justiciable by Ombuda) For a client complaint to be submitted to the Office of the Ombud for Financial
Services Providers (“the Office”) —i. the complaint must fall within the ambit of the Act and the rules of the Ombudas listed hereunder;ii. the person against whom the complaint is made must be subject to theprovisions of the Act (hereafter referred to as “the respondent”);
iii. the act or omission complained of must have occurred at a time when theserules were in force; andiv. the respondent must have failed to address the complaint satisfactorily within
six weeks of its receipt.
b) A client may seek any relief relating to the subject matter of the complaint, but acomplaint constituting a claim for a monetary award, must relate to the redress offinancial prejudice or damage suffered or likely to be suffered by the client.
c) The complaint must not constitute a monetary claim more than R800 000.00 for aparticular kind of financial prejudice or damage, unless the respondent has agreed
in writing to this limitation being exceeded, or the client has abandoned the amountin excess of R800 000.00.
d) The Ombud may also entertain a complaint relating to a financial service rendered
by a person not authorised as a financial services provider or by a person acting
on behalf of such person.
e) When the Ombud receives a referral from the registrar, the Ombud must in writing
notify the client concerned thereof and require the client to inform the Ombud
whether the client wishes to pursue the complaint in accordance with theprovisions of Part I of Chapter VI of the Act.
f) The complaint must not relate to the investment performance of a financial productwhich is the subject of the complaint, unless such performance was guaranteed
expressly or implicitly or such performance appears to the Ombud to be sodeficient as to raise a prima facie presumption of misrepresentation, negligence ormaladministration on the part of the person against whom the complaint is brought,or that person’s representative.
8. Training
For purposes of effective and fair resolution of complaints all relevant staff of Midori
FX (Pty) Ltd will receive adequate training, including imparting and ensuring fullknowledge of the provisions of the Act, the Rules on Proceedings of the Office and theFAIS General Code regarding resolution of complaints on a yearly basis.
4|PageMidori FX (Pty) Ltd is an Authorised Financial Services Provider registered and existing in the Republic of South
Africa under registration number 2023/526901/07 and regulated by the Financial Sector Conduct Authority underlicense number 53077, pursuant the Financial Intermediary and Services Act 37 of 2002 (“FAIS’).

Complaints Resolution Procedure

9. Rights of client in connection with complaints.
a) The client must qualify as such in terms of the Act & within these pro.
b) Before submitting a complaint to the Office, the client must endeavour to resolve
the complaint with the respondent.
c) The client has six months after receipt of the final response of the respondent, or
after such response was due, to submit a complaint to the Office.
d) On submitting a complaint to the Office, the client must satisfy the Ombud of
having endeavoured to resolve the complaint with the respondent, and must
produce the final response (if any) of the respondent as well as the client’s reasonsfor disagreeing with the final response.
e) A complaint must be submitted to the Office in writing or, in circumstances
deemed appropriate, the Ombud may receive a complaint in any other manner
which conveys the complaint in comprehensible form.
f) A complaint must, where necessary, be accompanied by available documentationin the client’s possession.
g) The client must be advised by the Ombud of the response of the respondent to theextent necessary to react to such response and to decide whether the complaint
should be proceeded with, and must thereafter within two weeks advise the Ombudof such reaction and decision.
h) After lodging a complaint with the Ombud, the client is entitled to submit furtherfacts, information or documentation in connection with the complaint and must doso, to the extent possible, if requested by the Ombud.
10. Administrative and procedural mattersa) The Ombud may decline to investigate a complaint, or may suspend theinvestigation, when to the knowledge of the Ombud the client intends proceeding
to or has already embarked on litigation.
b) Information provided to the Ombud is confidential and may only be disclosed by
the Ombud to the registrar or to another party to the complaint to the extent
necessary to resolve the complaint, or where required under the Act or any otherlaw.
c) The Ombud is not liable to be subpoenaed to give evidence on the subject of acomplaint in any proceedings;

5|PageMidori FX (Pty) Ltd is an Authorised Financial Services Provider registered and existing in the Republic of South
Africa under registration number 2023/526901/07 and regulated by the Financial Sector Conduct Authority underlicense number 53077, pursuant the Financial Intermediary and Services Act 37 of 2002 (“FAIS’).

Complaints Resolution Procedured) The Ombud may take such steps as deemed expedient to advise the public on theexistence of the Office, the procedure for submitting a complaint to the Office, oron any other aspect concerning the Office to facilitate the submission or disposalof complaints.
11. Appeala) A party against whom the Ombud has made a determination may apply to theOmbud for leave to appeal against the determination.
b) Such application must be in writing, must be submitted to the Ombud within one
month of the date of the determination, and must set out the grounds on which theapplication is made.
c) In weighing the application, the Ombud must consider the factors set out in section
28 (5) (b) of the Act, and may request and consider submissions by any other party
to the complaint concerning the merits of the application.
d) If the Ombud refuses leave to appeal, the applicant must be advised in writing andgiven reasons for such refusal.
e) The applicant may within one month of such refusal apply to the chairperson of
the board of appeal for leave to appeal against the determination, and advise theOmbud in writing accordingly.
f) The application referred to in paragraph (e) must be submitted to the secretary of
the board of appeal and must thereafter be dealt with as directed by the chairpersonof that board.
g) On receipt of the written advice referred to in paragraph (e), the Ombud must
transmit to the secretary of the board of appeal all the records concerning thecomplaint together with a copy of the determination and the Ombud’s reasons
therefor, and the Ombud’s reasons for refusing leave to appeal.
h) If the Ombud grants leave to appeal, the applicant must be advised accordingly
and the provisions of paragraph (g) apply with the necessary amendments, inwhich case the Ombud must also transmit the reasons for granting leave to appeal(if any).
i) When granting or refusing leave to appeal, the Ombud must advise the other party
to the proceedings of the outcome of the application for leave to appeal.
j) If the board of appeal becomes seized with the appeal, the appeal must be dealt
with in terms of the rules applicable to that board, with the necessary amendments,
and, unless requested by the board of appeal, the Ombud shall not take part in the6|Page
Midori FX (Pty) Ltd is an Authorised Financial Services Provider registered and existing in the Republic of South
Africa under registration number 2023/526901/07 and regulated by the Financial Sector Conduct Authority underlicense number 53077, pursuant the Financial Intermediary and Services Act 37 of 2002 (“FAIS’).

Complaints Resolution Procedure

appeal proceedings and the appeal will continue between the parties to thecomplaint.
k) On receipt of the final decision of the board of appeal the Ombud must forward
the decision to the clerk or registrar of the court as contemplated in section 28 (4)of the Act.

7|PageMidori FX (Pty) Ltd is an Authorised Financial Services Provider registered and existing in the Republic of South
Africa under registration number 2023/526901/07 and regulated by the Financial Sector Conduct Authority underlicense number 53077, pursuant the Financial Intermediary and Services Act 37 of 2002 (“FAIS’).