Dispute Resolution Process

File a Complaint to Financial
Commission

The customer can file a complaint with the British Investment Commission within 30 days from the moment of the incident. However, the customer should try to resolve the complaint with the Member first. The Member has 5 days to confirm receipt of the customer complaint and 14 days to respond to the complaint through the Member’s Internal Dispute Resolution (IDR) procedure.The Client can only complain to the Financial Commission if he is not satisfied with the Member’s decision or if the decision has not been made within 14 days.

Investigation Phase

The British Financial Commission will investigate the grounds of the complaint and verify its validity within 5 business days.
Head of DRC will contact the client and the Member within 5 business days to obtain all necessary information and see if there is a chance to settle the complaint during investigation phase.
If no settlement opportunity during the Investigation phase, complaint will go to the Determination Phase and the DRC.

Determination Phase

Based on the documents and information that was collected during Determination Phase, the DRC will make a decision on the complaint.If additional information is needed, DRC will request such information from the client or Member. Requested party must answer within 7 days.

Awards and Orders

DRC decisions are binding on Brokers. DRC decisions are binding on customers only if they agree.
If the complainant accepts the DRC’s decision, he must accept it within 14 days. If the customer does not respond to DRC’s decision within 14 days, the complaint is considered closed.
The member must decide on the settlement within 28 days from the date of the decision.
If the decision is in favor of the Member, the customer must release the member within 7 days from the date of the decision and the complaint is considered closed.