FAIS Ombud

The Office of the Ombud for Financial Services Providers (‘FAIS Ombud’) was established by the Financial Advisory and Intermediary Services Act, No 37 of 2002 (‘FAIS Act’). The Ombud is appointed by the Board of the Financial Services Board and must be a person qualified in law who possesses adequate knowledge of the rendering of financial services. The Board may also appoint one or more persons as Deputy Ombud. The objective of the FAIS Ombud is to consider and dispose off complaints by clients against financial services providers in a procedurally fair, informal, economical and expeditious manner and by reference to what is equitable in all the circumstances. We believe our first responsibility is to the Constitution of the Republic of South Africa and to the statutory mandate which created our organization. We are completely independent and deal with all disputes fairly and impartially. The Office of the Ombud for Financial Services Providers (‘FAIS Ombud’) was established by the Financial Advisory and Intermediary Services Act, 37 of 2002 (‘FAIS Act’). The FAIS Ombud’s role is to resolve disputes between financial services providers and their clients in a procedurally fair, informal, economical and expeditious manner. The FAIS Ombud‘s jurisdiction is limited to violations which occurred on or after 30 September 2004 and to claims not exceeding R800 000.00. The FAIS Ombud is independent, impartial and performs its functions without fear, favour or prejudice. The Ombud’s services are free and accessible to all consumers. Since 1 April 2005, the FAIS Ombud was granted the authority to act as Statutory Ombud under the Financial Services Ombud Schemes Act, 37 of 2004 (‘FSOS Act’). This means that the Ombud can deal with complaints against financial institutions, which do not fall within the jurisdiction of any other ombud scheme or where there is uncertainty over jurisdiction.

Address: Sussex Office Park Ground Floor, Block B 473 Lynnwood Road Cnr Lynnwood Road & Sussex Ave, Lynnwood, Pretoria, 0081, South Africa

Phone: +27 12 762 5000/470 9080
FAX: +27 86 764 1422/12 348 3447