Knowledge Base
Handle client complaints in accordance with regulatory standards
What is the professional's obligation in the event of a total or partial rejection of a complaint?
In the event of a total or partial rejection of a complaint, the professional must communicate the available remedies. For contracts concluded online, the professional must include a link to the European online dispute resolution platform in accordance with European Regulation 524/2013.
What is the definition of a complaint according to the AMF?
According to AMF Instruction DOC-2012-07, a complaint is a statement expressing the client's dissatisfaction with the professional. It differs from simple information or service requests because it expresses a disagreement about the existence, nature, quality or cost of products and services.
What elements must be included in the prior information about the complaint handling process? (Multiple answers possible)
The prior information must be freely accessible and include: the methods for contacting the professional, the contact details of the person or body in charge with a non-premium-rate telephone number, the contact details of the competent mediators, and the processing timeframes. This information must appear on the website, in physical reception areas, in account opening agreements, and in fee schedules.
What are the recurring deficiencies identified by AMF SPOT inspections in 2024 regarding complaint handling? (Multiple answers possible)
AMF SPOT inspections identified several deficiencies: an overly restrictive definition of complaints that unduly excludes certain expressions of dissatisfaction, non-compliance with the 60-day deadline (which should be two months), failure to inform the client in case of deadline overrun, and failure to communicate the mediator's contact details.
The deadline for sending an acknowledgement of receipt of a complaint is a maximum of 10 business days, unless a complete response can be provided within the same period.
In accordance with AMF Instruction DOC-2012-07, an acknowledgement of receipt must be sent within a maximum of ten business days. If a complete response can be provided within the same period, the acknowledgement of receipt may be replaced by the final response.
The complaints register must be unified and centralised regardless of the channel of receipt (letters, emails, telephone calls).
Article 26.1 of Delegated Regulation 2017/565 requires that the complaints register be unified and centralised. It must include all complaints received through any channel.
Start date for the response deadline for complaints (since 2024)
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Since 1 January 2024, the two-month deadline for responding to a complaint runs from the date the client sent the written complaint, and no longer from the date of receipt by the professional. This was updated in AMF Instruction DOC-2012-07.
European regulation transposing MiFID II for client complaints
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Delegated Regulation (EU) 2017/565 transposes MiFID II and imposes specific requirements on complaint handling, including the maintenance of a centralised complaints register.