Complaints Procedure

1. Complaints must be in writing and addressed to the:

Compliance Manager
Institute of Financial Advisers
PO Box 5513
Wellington 6145

2. The following information should be provided

º Name and contact details of the complainant.

º Name of member against whom the complaint is directed.

º A brief description of any alleged misconduct it is helpful if the alleged misconduct is related to the Institute's Code of Ethics, Practice Standards, or Rules of Conduct.

º Whether the member has been formally notified of the complaint and any response received

º Whether the complaint has been referred to any other regulatory body or government authority or whether legal proceedings have commenced

3. The complaint is recorded in the Institute's complaints register.

4.The Compliance Manager will:

º acknowledge receipt of the complaint in writing to the complainant within 5 working days.

º keep a record of progress of the complaint

º supply a copy of the complaint and supporting documentation to the member seeking an explanation from them

º if the member's explanation does not satisfy the complainant, refer copies of the complaint and any correspondence to the Professional Conduct Committee. It is normal practice for each party to the complaint to receive a copy of submissions made by the other party.

5. A full investigation of the complaint will be made by the Professional Conduct Committee, which may

a) dismiss the complaint, or

b) decide the evidence is sufficient to warrant the making of a charge or charges for a hearing before the Professional Conduct Committee or

c) decide the evidence is sufficiently serious to warrant the making of a charge or charges for a hearing before the Disciplinary Tribunal.

6. If the matter goes to a hearing, the Institute incurs legal and other costs to prepare and present its case, and will seek recovery of these from the member (even if the complaint is settled and withdrawn). Both Committees have the power to make decisions as set out in the Institute's Disciplinary Bylaws which are available on the website under Library: Institute Documents.