Complaint Handling Procedure
COMPLAINTS HANDLING AND DISPUTE RESOLUTION OF TITLE BROKER INTERNATIONAL LIMITED
1. General Provisions
1.1 Purpose of the Policy
This Complaints Handling and Dispute Resolution Policy (the “Policy”) establishes the framework for the receipt, handling, investigation, resolution, and recordkeeping of Complaints submitted by Clients of Title Broker International Ltd. (the “Company” or “TBI”) in connection with the provision of Investment Services and related activities.
The purpose of this Policy is to ensure that Complaints are handled:
a) fairly, promptly, and professionally;
b) in accordance with applicable AIFC legislation;
c) in a manner consistent with the AIFC Core Principles, including the principle of Treating Clients Fairly.
1.2 Scope of Application
This Policy applies to:
a) Retail Clients and Professional Clients, as classified under Chapter 2 of the AIFC Conduct of Business Rules (COB);
b) all Complaints relating to Investment Services, communications, transactions, or conduct of the Company or its employees in the course of carrying on Regulated Activities. This Policy does not apply to Market Counterparties, in accordance with COB Rule 15.1
1.3 Regulatory Framework
This Policy is adopted and implemented pursuant to, and shall be interpreted in accordance with, the following AIFC legislation, as amended from time to time:
AIFC Conduct of Business Rules, in particular Chapter 15 (Complaints Handling and Dispute Resolution);
AIFC General Rules, including: Core Principles (Chapter 4); Systems and Controls (Chapter 5); Conflicts of Interest and Recordkeeping requirements;
AIFC Financial Services Framework Regulations (FSFR), including: Part 8 (Supervision of Authorised Persons); Articles 102, 104, and 105 (obligations of disclosure, cooperation, and prohibition of obstruction of AFSA);
AIFC Companies Regulations and AIFC Companies Rules, to the extent applicable to company communications, registered contact details, and record retention;
the AIFC Glossary;
internal regulations of TBI, including the regulations governing the provision of Brokerage (Agency and Principal) Services.
In the event of any inconsistency between this Policy and AIFC legislation, the provisions of AIFC legislation shall prevail.
1.4 Definitions
For the purposes of this Policy:
Complaint: means any expression of dissatisfaction, whether oral or written, made by or on behalf of a Client regarding the provision of services, activities, or conduct of the Company, which alleges or implies actual or potential financial loss, material distress or material inconvenience.
Client: means a Retail Client or Professional Client of the Company.
Responsible Officer: means a Company employee appointed to review, investigate, and manage a Complaint in accordance with this Policy.
Final Response: means a written communication issued by the Company to the Complainant setting out the outcome of the Complaint investigation, the rationale for the decision, and information on available escalation options.
All other capitalised terms used in this Policy shall have the meanings assigned to them in the applicable AIFC legislation unless the context requires otherwise.
1.5 AIFC Core Principles and Treating Clients Fairly
In handling Complaints, the Company shall act in accordance with the AIFC Core Principles, including the obligation to:
act honestly, fairly, and professionally;
exercise due skill, care, and diligence;
maintain effective management and control systems;
treat Clients fairly at all stages of the complaint lifecycle.
The handling of Complaints forms an integral part of the Company’s commitment to Treating Clients Fairly.
1.6 Independence and Impartiality
Each Complaint shall be reviewed and investigated by a Responsible Officer who:
is, to the extent practicable, independent from the business area or activity giving rise to the Complaint;
has not been directly involved in the matter under review;
has sufficient authority to resolve the Complaint or escalate it to senior management or Compliance.
Where a Complaint involves an actual or potential conflict of interest, the Company shall take appropriate steps to manage or avoid such conflict, including appointing an alternative Responsible Officer.
1.7 Accessibility and Submission of Complaints
Clients may submit Complaints free of charge, and all Complaints must be submitted in writing, including electronically.
Where a Client initially raises a Complaint verbally, the Company shall require the Client to submit the Complaint in written form for the purposes of investigation and recordkeeping.
The Company shall ensure that information on how to submit a Complaint in writing is made available to Clients via its official communication channels, including the Company’s website and registered email address, in accordance with the AIFC Companies Regulations and Companies Rules.
1.8 Standards of Communication
All communications with Clients in connection with Complaints shall be:
fair, clear, and not misleading, in accordance with COB Chapter 3;
timely and proportionate to the nature and complexity of the Complaint;
properly documented and retained.
1.9 Cooperation with AFSA and Regulatory Authorities
The Company shall fully cooperate with the Astana Financial Services Authority (AFSA) and any other competent AIFC authority in relation to Complaints, including by:
providing complete and accurate information and documentation upon request;
promptly responding to supervisory enquiries or investigations.
The Company shall not engage in any conduct that may obstruct, hinder, or improperly delay the exercise of supervisory or investigative powers by AFSA, in accordance with FSFR Article 105.
1.10 Confidentiality
All information relating to Complaints shall be treated as confidential and handled in accordance with:
FSFR Part 10 (Confidentiality);
applicable data protection and information security requirements.
Disclosure of Complaint-related information shall be limited to circumstances where such disclosure is required by law, requested by AFSA or another competent authority, or consented to by the Client.
2. Governance and Responsibilities
2.1 General Responsibility
Title Broker International Ltd. maintains appropriate arrangements to ensure that Complaints are handled fairly, promptly, and professionally, in accordance with applicable AIFC legislation.
Overall responsibility for implementing this Policy rests with the Company’s senior management.
2.2 Compliance Oversight
The Company has appointed a Compliance Officer responsible for overseeing compliance with this Policy and applicable AIFC requirements relating to Complaints handling.
The Compliance Officer monitors the effectiveness of the Complaints handling process and ensures appropriate escalation of matters where required.
2.3 Investigation of Complaints
Each Complaint is reviewed and investigated by a designated employee of the Company who, to the extent practicable:
is independent from the matter giving rise to the Complaint;
acts objectively and impartially;
has sufficient authority to assess the Complaint or escalate it within the Company.
2.4 Conflicts of Interest
Where a Complaint involves an actual or potential conflict of interest, the Company shall take appropriate measures to manage or avoid such conflict, including reassigning the Complaint or implementing enhanced oversight.
2.5 Recordkeeping
The Company maintains records of Complaints in accordance with applicable AIFC recordkeeping requirements.
3. Submission of Complaints and Communication Channels
3.1 Right to Submit a Complaint
Any Client who considers that the Company has failed to meet its obligations, or who is dissatisfied with any aspect of the Investment Services provided by the Company, is entitled to submit a Complaint to the Company.
The right to submit a Complaint applies regardless of the nature or value of the service provided and is exercised free of charge. Submitting a Complaint does not limit or affect the Client’s statutory, contractual, or regulatory rights under applicable AIFC legislation.
The Company recognises Complaints as an important mechanism for addressing Client concerns and improving the quality of its services and undertakes to consider each Complaint in accordance with applicable regulatory requirements.
3.2 Form of Complaint
For the purposes of investigation and recordkeeping, Complaints must be submitted in writing, including electronically.
Where a Client initially raises a Complaint verbally, the Company may request that the Client confirm the Complaint in writing to enable proper consideration and documentation.
For convenience only, the Company provides an optional complaint form set out in Annex A to this Policy. Clients are not required to use the form in order to submit a Complaint, and Complaints may be submitted in free form in accordance with this Policy
3.3 Submission Channels
Clients may submit Complaints using the Company’s official communication channels, including:
by email to the Company’s official and/or registered email address as published on the Company’s website;
by post or courier to the Company’s registered office address.
The Company shall ensure that information on how and where to submit a Complaint is made publicly available and kept up to date.
3.4 Acknowledgement of Receipt
The Company shall acknowledge receipt of a Complaint within a reasonable period after it has been received.
The acknowledgement may include general information on the complaints-handling process and the expected next steps.
3.5 Language of Communication
Complaints and related communications shall be conducted in a language agreed between the Client and the Company or in a language customarily used in communications between the Parties.
3.6 Standards of Communication
All communications between the Company and the Client in relation to a Complaint shall be conducted in a manner that is fair, clear, and not misleading, in accordance with the AIFC Conduct of Business Rules and applicable regulatory standards.
4. Complaints Handling, Review, and Response
4.1 Review of Complaints
Upon receipt of a written Complaint, the Company shall review the matter in a fair, objective, and timely manner, taking into account the nature and complexity of the Complaint.
The Company shall consider all relevant information available in order to assess whether the Complaint is justified and whether any remedial action is appropriate.
4.2 Timeframes
The Company aims to review and respond to Complaints promptly and within a reasonable period according to COB.
Where additional time is required due to the complexity of the Complaint or the need to obtain further information, the Company may extend the review period and shall inform the Client accordingly.
4.3 Response to the Client
Following its consideration of the Complaint, the Company shall provide the Client with a written response setting out the outcome.
The response shall, where appropriate:
explain the Company’s position;
outline the basis of the decision;
indicate whether any remedial action is proposed.
4.4 Availability of Information
Information regarding the Company’s Complaints handling procedures shall be made available to Clients free of charge upon request.
5. Escalation and External Dispute Resolution
5.1 Referral of Complaints
Where the Company considers that another AIFC Participant or a third party regulated within the Astana International Financial Centre may be wholly or partly responsible for the subject matter of a Complaint, the Company may refer the Complaint, or a relevant part thereof, to such person.
The Company shall inform the Client where a Complaint, or part of a Complaint, has been referred to another AIFC Participant or regulated entity.
5.2 Further Escalation by the Client
If the Client is not satisfied with the outcome of the Company’s consideration of a Complaint, or if the Complaint has not been resolved, the Client may pursue the matter through external dispute resolution mechanisms available under AIFC legislation.
5.3 Complaints to the AFSA
Clients and other persons may submit a Complaint to the AFSA in accordance with the procedures established by the AFSA. Information on submitting a Complaint to the AFSA is publicly available on the AFSA’s official website.
5.4 AIFC Court and Arbitration
Nothing in this Policy limits the Client’s right to seek resolution of a dispute before the AIFC Court or through arbitration or other dispute resolution mechanisms, where such rights arise under applicable law or contractual arrangements.
6. Recordkeeping and Confidentiality
6.1 Recordkeeping
The Company shall maintain appropriate records of Complaints received and the actions taken in relation to such Complaints in accordance with applicable AIFC legislation.
Complaint records shall be retained for the period required under the AIFC Conduct of Business Rules and other applicable regulatory requirements.
6.2 Confidentiality
All Complaints and information relating to Complaints shall be handled in a confidential manner and used solely for the purposes of reviewing and resolving the Complaint, unless disclosure is required or permitted under applicable law or regulatory requirements.
6.3 Disclosure to Regulatory Authorities
Nothing in this Policy restricts the Company from providing information or documents relating to Complaints to the Astana Financial Services Authority or other competent authorities where such disclosure is required under applicable AIFC legislation.
6.4 Data Protection
The Company shall process personal data relating to Complaints in accordance with applicable data protection and confidentiality requirements under AIFC legislation.
Annex – A
Optional Complaint Form (for Convenience Only)
This Complaint Form is provided for convenience only.
Clients are not required to use this form in order to submit a Complaint.
Complaints may be submitted in free form in accordance with this Policy.
Full name:
ID/Passport No/Registration No:
Account No:
Contact details including e-mail:
Complaint cause, detailed explanation, and screenshots/copies of correspondence to the details of the complaint (if available):
Financial instrument (if applicable):
The date of the last correspondence with the Company employee and the name of that employee:
A detailed summary of the events leading up to a complaint:
Expected resolutions/outcomes to rectify the situation:
Personal signature