1.1 This Policy applies to Smith Square Partners LLP (the “Firm”)
1.2 This Policy sets out the way in which the Firm will handle complaints received by it from existing or potential clients (“Clients”) regarding the Firm’s provision of investment services and activities within the meaning of the Markets in Financial Instruments Directive (Directive 2014/65/EU) (“Investment Services”).
2.1 This is the Firm’s Complaints Handling Policy.
2.2 The relevant Article of the Commission Delegated Regulation (EU) 2017/565 (the “Delegated Regulation”) is Article 26.
2.3 The relevant parts of the FCA Handbook are Principles 3 and 6, DISP 1.1A and DISP 1.10.
3. HIGH LEVEL POLICY
3.1 It is the Firm’s Policy to maintain systems and procedures which enable the Firm to comply with the requirements of the Delegated Regulation and the FCA Handbook, in relation to the handling of complaints received from Clients regarding the Firm’s provision of Investment Services.
4. DETAILED PROCEDURES
4.1 The Firm understands that it is required to establish, implement and maintain effective and transparent complaints management policies and procedures for the prompt handling of complaints from Clients of the Firm regarding alleged wrongdoing, errors or disruption in connection with the provision of Investment Services by the Firm (“Complaints”).
The submission of complaints
4.2 Complaints may be submitted by Clients to the Firm without charge.
4.3 To ensure that Complaints are handled diligently, effectively, consistently and in an independent manner, the Firm has appointed the Compliance Officer as having responsibility for the investigation of Complaints.
4.4 All Complaints received by the Firm, including those submitted verbally, must be reported without delay to the Compliance Officer.
4.5 The Compliance Officer will record details of any Complaint received and any response given by the Firm in the Firm’s Complaints Log.
4.6 Upon receipt of a complaint, the Compliance Officer will provide an acknowledgment of receipt to the Client, which will inform the Client about the Firm’s complaint’s handling procedures and provide the Client with the contact details of the person dealing with its Complaint.
The review and resolution of complaints
4.7 In order to reassure the Client that the Complaint is being appropriately reviewed and dealt with, an initial response to the Complaint will be provided to the Client in plain language that is easy to understand within five business days of receipt of the complaints handling form. As appropriate, the Client will be kept informed throughout the complaints handling process of any progress made in resolving their Complaint.
4.8 The Complaint will be investigated fully by the Compliance Officer. Once the investigation is concluded, a full and clear explanation of the Firm’s position on the Complaint will be prepared in writing and provided to the Client without any undue delay. Such written explanation will also inform the Client about its options, including any alternative recourse mechanism (including the ability to take civil action) which may be available to it.
5. COMPLAINTS REPORTING
5.1 The Firm will submit a bi-annual report to the FCA, containing details of each of the Complaints it has received during the relevant reporting period. The reporting periods are the six months immediately preceding and following the Firm’s accounting reference date, and the report will be submitted no later than 30 days following the end of the relevant period. These details will include information about:
- the total number of Complaints received;
- the context in which those Complaints were submitted;
- the total number of Complaints closed or upheld; and
- the total amount of redress paid in response to those Complaints.
6. MONITORING AND REVIEW
6.1 This Policy is endorsed by the Firm’s Partnership Board.
6.2 Details of all Complaints received by the Firm, including information regarding the nature and manner of resolution of each Complaint are recorded by the Compliance Officer in the Firm’s Complaints Log.
6.3 The Compliance Officer is responsible for maintaining records of the Complaints Log and any associated file(s) for 5 years from the date on which the Complaint is finally resolved.
6.4 The Compliance Officer periodically reviews the Complaints Log and the measures taken for the resolution of Complaints to identify and address any risks or issues with this Policy or the Firm’s compliance with it.