ΠΕΡΙΓΡΑΦΗ

The EIMF Live Online Learning Experience

EIMF subject-matter experts deliver engaging and interactive courses across a broad spectrum of areas, that can be enjoyed in the comfort of your own chosen environment.

Course Overview

Much of the focus of MiFID 2, the Insurance Distribution Directive and other modern regulation is on the fair treatment of customers. The handling of complaints marks out financial institutions as being concerned about their customers and keen to improve their own standards generally. MiFID 2 was the first general EU financial services directive to take the subject seriously and lay down, through its MiFID Org Regulations, some Europe-wide complaint rules. Now, the ESMA/EBA guidelines apply to Cyprus complaint handling well beyond banking and the EIOPA guidelines deal with insurance cases.

At the same time, Cyprus’ Financial Ombudsman is a decade old and has been quietly handling complaints from across the financial regulated sectors within the country, well beyond MiFID’s requirements. Regulated financial services businesses including insurers and deposit takers are all included.

This course benefits from being delivered by the only author of major works on complaint handling who has written and lectured extensively on Treating Customers Fairly, and who has worked on all the different sides of the complaint handling process: bringing, responding to and investigating neutrally complaints.

ΣΚΟΠΟΣ ΣΕΜΙΝΑΡΙΟΥ

By the end of the programme, participants should be able to:

• Apply treating customers fairly notions to their business
• Apply the MiFID Org Regulation provisions to complaints
• Build and implement the basics of a complaints procedure and policy
• Understand the complaints process from advance disclosure of the process to the closure of the case
• Appreciate some of the root cause analysis techniques and their weaknesses
• Reach fair results in relation to their products and services and complaints about them
• Deal with a case at the Financial Ombudsman

ΣΕ ΠΟΙΟΥΣ ΑΠΕΥΘΥΝΕΤΑΙ

• Complaint handlers
• Compliance Officers and staff
• Customer relations and customer service staff
• Lawyers
• Risk managers

ΠΕΡΙΣΣΟΤΕΡΕΣ ΠΛΗΡΟΦΟΡΙΕΣ

Training Outline

• Where to find the relevant materials
• The complaints procedure and policy
• Advance disclosure of how to complain
• Identification, recording and acknowledgement of complaints
• Investigations – by whom, what and how?
• The assessment of the complaint
• Typical grounds for upholding complaints
• Basics of compensation
• Drafting the final response
• Referring the customer to the Ombudsman
• The Ombudsman
• Root cause analysis

Training Style

This programme consists of an interactive presentation of the relevant rules and good practice with questions and comments to and from the participants, interrupted by a large number of practical examples, including the drafting of relevant documents including where time permits final responses.

Trainer

Adam Samuel

Adam Samuel is a lawyer qualified in the UK and the USA. Since 1996, Adam has run his own training and consulting business, helping out regulators in three continents on customer-facing issues. He has the qualifications required of a financial, mortgage and equity release adviser and the UK CISI compliance diploma. Adam wrote the only book on consumer financial services complaint handling in the UK and a guide to the SFC Code for Intermediaries in Hong Kong. The Gibraltar Supreme Court followed his expert evidence in van Geens v. Jyske Bank on product risk, compliance and advice standards around the world. Adam has broadcast on a number of BBC domestic and World Service programmes, including the national news, on financial services compliance and banking issues.