Complaints Resolution – Amna Asset Management

Complaints resolution policy

Introduction

This is the Complaints Policy of Amna Asset Manager (Pty) Ltd. Amna Asset Manager is a registered and authorised Financial Services Provider with the FSCA, registered under the FSP Number 44133.

We recognise that, as in all organisations, from time-to-time things can go wrong and we may not provide the standard of service that we have set ourselves. We are especially keen to hear about such instances since they provide us with an opportunity to put things right and to learn.

Amna Asset Manager (Pty) Ltd is a company registered under South Africa. The Towers, 17th Floor, 2 Hertzog Boulevard, Foreshore, Cape Town, 8001.

The Company acting in its capacity as a Financial Services Provider and in accordance with the Financial Advisory and Intermediary Services Act, 2002 (Act No. 37 of 2002) (the “Law”) is required to have in place and disclose to its Clients the Complaints Resolution Process (herein the “Process”), which is described in this document.

Scope of the Complaints Resolution Process.

The purpose of the Process is to set out the complaint’s resolution processes and procedures which the Company has established, maintains, and follows for the resolution of complaints.

This Process applies to any of the Company’s Clients who have reasons to believe that the Company has treated them in any way unfairly and/or has failed to comply with any of the provisions of the Law. Clients should follow the procedure outlined herein to make a formal complaint to the Company.

Definition of a Complaint

The term “complaint” as defined by Law means a specific complaint relaƟng to a financial service rendered by a Financial Services Provider (the “Provider”) and/or his representative to the complainant and in which complaint it is alleged that the Provider and/or his representative:

Has contravened or failed to comply with a provision of the Law and that as a result thereof the complainant has suffered or is likely to suffer financial prejudice or damage;
Has wilfully or negligently rendered a financial service to the complainant which has caused prejudice or damage to the complainant or which is likely to result in prejudice of damage; or
Has treated the complainant unfairly.

The term “complainant” is used to describe a natural or legal person who has opened an account with the Company, as per the terms and conditions set in the Account Opening Agreement and/or any other legal documentation of the Company and to whom the Company offers financial services and is eligible for lodging and/or who has already lodged a complaint a complaint against the Company.

When making a complaint against the Company the Client shall include the following:

the Client’s name and surname;
the Client’s trading account number;
the affected transaction numbers, if applicable;
the date that the issue arose and a descriptioon of the issue;
copies of all relevant documentation must be attached thereto.

A complaint must not include offensive language directed either towards the Company or a Company’s employee(s).

Complaints Process

Queries or disputes can be received via phone, letter, email or by any other form of communication. You must tell us as soon as possible about any dispute – the sooner you inform us, the easier it will be to resolve the matter.

In the first instance, you should try to resolve your dispute through the usual customer service channels, as they are able to resolve the vast majority of disputes and very oŌen issues arise as a result of misunderstandings and can be easily resolved.

You will be asked to provide full details of your issue (for example the date and time of the disputed trade). The more information you can provide, the easier it will be to resolve the matter.

Complaints Prioritisation

Complaint Prioritization and Procedures

We categorize all complaints into three levels of risk to ensure they're handled appropriately and in a timely manner.

1. Risk 1: Routine Complaints

These are complaints with a low potential business impact. This category includes routine complaints that may have the potential to become serious.

We'll make every effort to investigate your complaint and provide you with an outcome within 15 working days.
A staff member, in coordination with their manager, will closely monitor and investigate your complaint to ensure a timely response.

2. Risk 2: Urgent, Serious Complaints

These are urgent complaints with a serious business impact. This category includes:

Serious complaints lodged on media platforms, received from legal advisors, or involving an immediate contravention of legislative requirements (e.g., failure to conduct a proper needs analysis).

Our procedure for this risk level is as follows:

Once we acknowledge receipt of your complaint, a relevant manager or personnel member will be informed to start the investigation in cooperation with the appropriate company officer.
We'll make every effort to investigate and provide an outcome within 5 to 10 working days.
Complaints from third parties or legal advisors will be acknowledged within 24 hours. We will also request authorization (such as a power of attorney) to act on your behalf.

3. Risk 3: Urgent Official Complaints from Regulators

These are urgent, official complaints received from regulators like the FAIS Ombud.

The regulator typically stipulates a response time of 30 working days from receipt of the complaint.
The investigation for these complaints may be delegated to a suitable senior person, who will be responsible for compiling the final response to the regulator.
When we reach an outcome, the relevant officer will inform you of our position, along with an explanation and any remedies we intend to take.

Complaints Categorisation

Complaints will be categorised according to their nature, e.g. service, product related, features, performance, advice given, etc.

These categories are then narrowed down to the impact on customers. The impact of the complaint is measured by further categorising it according to the following Treat Clients Fairly Outcomes (TCF):

TCF Outcome 2 – These are complaints relating to the design of a product or service.

TCF Outcome 3 – These complaints relate to unsuitable, or inaccurate, misleading, confusing or unclear information provided to a customer throughout the life cycle of a product.

TCF Outcome 4 – These are complaints which relate to the advice given to a customer by an advisor which was misleading, inappropriate and/or tainted with conflicts of interest which was not disclosed. Inappropriate advice given because of lack of knowledge, skill or experience on the part of the advisor of the product or service being rendered, would also be included here.

TCF Outcome 5 – Complaints in this category pertain to product performance and service-related issues. TCF

Outcome 6 – These complaints relate to product accessibility, changes or switches, complaints relating to complaints handling and complaints relating to claims would be categorized here.

Submitting a Complaint

You may submit your complaint by submitting the Complaint) in writing and address it to the following email address:

In the unlikely event where a complaint cannot be addressed within the three (3) weeks period by the Company, a written acknowledgment of the complaint, with the contact details of the FAIS Ombud, will be sent to the complainant (client).

If the Company was unable to resolve the complaint within the time period of six (6) weeks the complainant may contact the FAIS Ombud within six (6) months of receiving a final response from the Company otherwise the FAIS Ombud may not be able to deal with the client’s complaint. Please see below the relevant contact details:

Ombud for Financial Services Providers Contact Details:

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