Complaints should preferably be in writing, addressed to the Chief Executive Officer (CEO)
or Managing Director and signed by the complainant, complete with address and contact
information.
Telephone and verbal complaints will be entered into the complaints file, but wherever
possible, should be confirmed in writing. Anonymous complaints should also be recorded and assessed, and action taken where necessary. All customer complaints should be duly entered in a register detailing action taken towards their resolution.
In order to deal with complaints effectively and efficiently in order to resolve the problem,
they will be dealt with in the following manner:
1. Front line staff (1st Tier) will handle straightforward, minor complaints. Where these
minor complaints cannot be dealt with immediately, they will be acknowledged in writing
within 5 working days. The letter will detail what action will be taken, who the
responsible officer will be and a contact number, and the anticipated time for a response
where this is known.
2. Complaints which cannot be handled by front line staff should be referred to the
officer responsible for resolution i.e. the First Responder (1st Tier), in conjunction with
other supervisory staff in that work area, if required. It is expected that the First
Responder will acknowledge the complaint and will liaise with the complainant, in order
to keep him/her informed of the progress of the action being taken.
3. Any follow up complaint to an original request/complaint will progress immediately to
the 2nd Tier and be handled by the Responsible Officer
4. Where a complaint involves a number of different issues which require action by
different members of staff, officers in the Compliance Department will send a letter of
acknowledgement and then enter each complaint as a separate entry in the complaints
file to be forwarded to each relevant officer who will follow up on each complaint until its
completion.
5. All written complaints will first be registered by Records, which will then refer the
complaints on to the Compliance Department for acknowledgement and further action.
6. Serious complaints involving inappropriate behavior or staff (e.g. rudeness,
discrimination or harassment) will be directed to the relevant Heads of Department, and
if appropriate, the Human Resource Manager. As in (1), the initial acknowledgement by
the responsible officer, detailing the likely action to be taken, will occur within 5 working
days.
7. Serious complaints involving personal injury, a breach of the law or financial
implications, a FIMCO Ltd decision, and complaints which involve the need for a
detailed knowledge of FIMCO Ltd's operations and procedures, will be directed to the
responsible officer/Manager in the first instance (i.e. 2nd Tier), followed by the
CEO/Board (3rd Tier) where necessary. Once again, the initial acknowledgement
should be made within 5 working days by the responsible officer. The Procedure for the
internal review of FIMCO Ltd decisions should be followed.
8. Any appeal against a response from 1st Tier staff can be referred to a 2nd Tier
manager, director or the CEO/Board for resolution. Any appeal against a response from
2nd Tier staff should be referred to CEO/Board for resolution and the Procedure for the
internal review of FIMCO Ltd decisions should be followed.
9. Should the CEO/Board consider that a complaint is of a nature that requires the
involvement of an independent mediator/facilitator, this process could be employed to
assist in a 3rd Tier review. Where the complaint is against the act or omission by the
CEO or Board, the CEO/Board shall forward the same to an external legal counsel for
review and opinion on the conduct of FIMCO Ltd; the opinion once obtained shall be
observed by FIMCO Ltd in its final decision on the complaint.
10. In cases where the customer does not accept the outcome achieved by FIMCO Ltd
as a result of following its complaints procedure, the complainant should be advised of
alternative options open to them. These include approaching the Dar es Salaam Stock
Exchange Plc or Capital Markets and Securities Authority as per rules and regulations
governing market intermediary.