Subject Title - INSETA

the contractual or other legal relationship between the parties andultimately do what is equitable in the circumstances.There are certain procedures for a client to lodge a complaint withthe Ombud for Financial Services Providers (FAIS Ombud) and theFSP must assist the client with the required information.Self-Assessment QuestionsPlease note that the questions which follow are formative in nature. Thequestions were not developed by the FSB‟s examination bodies and as suchcannot be used as an indication of the nature/structure/level of the questionsthat you will encounter in the FSB‟s regulatory examination.1. The function of the Ombud for Financial Services Providers (FAISOmbud) is to resolve disputes relating to the rendering of financialservices by providers:a) where they have failed to comply with the FAIS Actb) where as a result of either wilful or negligent conduct by theprovider the client has sufferedc) where as a result of either wilful or negligent conduct by theprovider the client will potentially suffer prejudice or damage.d) All the above2. The Ombud for Financial Services Providers (FAIS Ombud) ismandated to investigate and adjudicate complaints by clients againstFSPs and representatives.a) Trueb) False3. When investigating a complaint:a) the Ombud may implement any procedure includingmediation which he deems appropriate and may allow anyparty the right of legal representation in considering thecomplaintb) the Ombud may not dismiss the complaint, even if he is ofthe view that the offer made by the FSP is fairc) if the complainant is unhappy with the Ombud'sdetermination, he may appeal to the FSB provided, theOmbud gives permissiond) All the above268 © INSETA - Section 1 12a