What is a Complaint?
A complaint is any expression of dissatisfaction made by, or on behalf of, a customer of Third Platform Services Limited (hereinafter “TPS” or the “Firm”), or an underlying client of such a customer (together “Client”), in relation to the services provided by the Firm which alleges that the Client has suffered, or may suffer, financial loss, material distress or material inconvenience. A complaint can be made orally or in writing.
NB. A Client includes not only existing Clients of the Firm but also prospective Clients.
On receipt of a Client complaint, TPS’ overriding consideration is to attempt to resolve, as quickly as possible, the issue which has given rise to the Client’s dissatisfaction. In the interests of treating Clients fairly, it is essential that:
- TPS responds promptly on initial receipt of a complaint and, thereafter, that the Client is kept promptly and fully informed on the progress of the Firm’s investigation of their complaint; and
- Investigation of the complaint is assigned to a senior individual within the Firm who does not have direct day-to-day involvement in the provision of the service to which the Client’s complaint relates.
The individual appointed by TPS for dealing with and management of Client complaints (the “Complaints Manager”) is the Firm’s Compliance Officer, whose contact details are as follows:
Third Platform Services Limited
Birchin Court, 20 Birchin Lane
London EC3V 9DU
Telephone: 020 7135 2870
Complaints Handling Procedures
On receipt of a complaint from a Client, TPS’ personnel will immediately refer the matter to the Complaints Manager for consideration. The Complaints Manager will obtain an initial briefing from the individual staff member who received the complaint in order to obtain a preliminary overview of the matter. Thereafter, investigation of the complaint and all related Client communications will be undertaken exclusively by the Complaints Manager and will entail the following steps:
i. Issuance of an initial letter of acknowledgement to the Client. This letter will be issued as soon as possible, but in any event, within 5 business days of receipt of the complaint by the Firm;
ii. Conducting a diligent and impartial investigation of the complaint, taking into account all the evidence available and the particular circumstances of the complaint, and obtaining additional information as necessary;
iii. Making a fair, consistent and prompt assessment of:
a. The subject matter of the complaint;
b. Whether the complaint should be upheld; and
c. What remedial action and/or redress may be appropriate.
iv. Ensuring the Client is kept fully informed of the progress of the Firm’s investigation. All communications with the Client will be undertaken in plain language which is easy to understand;
v. On conclusion of the investigation, a final response letter will be issued to the Client advising whether their complaint has been upheld and, if appropriate, any proposed remedial action to be taken and/or redress to be paid to the Client. This final letter will also provide full details of the Financial Ombudsman Service (“FOS”) to which the Client can refer their complaint in the event that they are dissatisfied with TPS’ response together with details of the time limit for making such a referral;
vi. Where a Client’s complaint is upheld by TPS and an offer of redress is made, which the Client subsequently accepts, the Complaints Manager will ensure that payment of such redress to the Client is made promptly thereafter. Furthermore, the Complaints Manager will ensure that any proposed remedial actions are promptly implemented;
vii. In the majority of cases it is anticipated that investigation of a Client’s complaint, and the issuance of a final response letter to the Client, will be concluded within 4 weeks of initial receipt of the Client’s complaint. However, in the event that the investigation is not completed within this period, an interim update letter will be sent to the Client advising on the progress of the Firm’s investigation;
viii. The Firm’s final response letter will usually be issued to the Client within 8 weeks of initial receipt of the Client’s complaint. However, in the event that the Complaints Manager has not completed their investigation by that time, a further interim update letter will be issued to the Client explaining why the Firm has been unable to conclude its investigation together with an estimate of the time to completion. This letter will advise the Client of their right to refer the matter at that time to the FOS together with relevant details as to how they may do so; and
ix. In the event that a Client refers their complaint to the FOS, TPS will cooperate fully with the FOS and comply promptly with any settlements or awards made by it.
Record-Keeping and Post Resolution Analysis
TPS will maintain records which fully document details of all Client complaints received by the Firm including the subject matter of the complaint, resolution reached, remedial actions taken and any redress paid to Clients. The TPS Board of Directors (the “Board”) will be kept duly informed of all such complaints and resolution thereof. The Complaints Manager, in conjunction with the Board, will maintain ongoing monitoring of the Firm’s complaints records in order to identify any emerging trends requiring remedial action or areas for improvement within the Firm’s service offering.