Sib Complaints Procedure

What it is System for handling complaints against firms authorised directly by the SIB or against the SRO or RPB to which you took your complaint initially.

When you can complain About any aspect of your dealings with the firm. About any aspect of the way the SRO or RPB handled your complaint - but the SIB can't re-examine the original complaint itself.

When you can't complain When your complaint is against a company authorised by one of the SROs or RPBs (the SIB would pass your complaint to the relevant body). Similarly, if the company concerned belongs to one of the Ombudsman schemes, the SIB would refer the complaint to that scheme. If the event giving rise to the problem arose before 29 April 1988.

Points to note Initially, the SIB will try to conciliate between you and the company. If this is unsuccessful, your complaint may be referred to a panel of independent investigators. The panel will make recommendations or representations and, if these are unsuccessful, you could take the case to court. Alternatively, you could agree to arbitration, in which case, you give up your right to go to court. The decision of the arbitrator is binding on both you and the company. There is no limit on the amount of the claim. Contact:

Securities and Investments Board (SIB)

3 Royal Exchange Buildings, London EC3V 3NL Tel: 020-7283 2474


The Investment Referee

What it is Scheme set up in early 1989 and used jointly by IMRO and FIMBRA to consider complaints about either IMRO members, or independent investment advisers and managers under the aegis of FIMBRA. All IMRO and FIMBRA members are covered by the scheme (though where an IMRO member also belongs to an Ombudsman scheme, your case may be referred to the Ombudsman Bureau).

When you can complain About virtually any loss of money which you think is due to the actions of an IMRO or FIMBRA member, or their failure to act, or due to their fault in some other way.

When you can't complain... see: The Investment Referee


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