Complaints and Procedures
The ASMEC is interested in receiving complaints about the following:
- Misconduct or dissatisfaction with an Authorised Firm, Authorised Individual, Designated Non-Financial Business, Authorised Market Institution or Fund.
- A contravention of a Law or Rule administered by ASMEC.
- Any conduct that may damage the reputation of the financial services industry.
- Misconduct or dissatisfaction with ASMEC or any of its employees.
Examples of complaints ASMEC handles include:
- Selling financial products that are unsuitable.
- Making false or misleading representations about financial products or services.
- Failing to act in the best interests of customers.
- Misusing client funds.
- Failing to observe high standards of integrity and fair dealing.
- Scams misusing ASMEC’s name or identity.
ASMEC can only deal with complaints that fall within its jurisdiction. We may not be able to assist directly if your complaint:
- Is unrelated to the financial regulatory sector.
- Does not contravene a Law or Rule administered by ASMEC.
- Involves conduct regulated by another authority.
If your complaint falls into these categories, please contact the relevant authority in your jurisdiction.
If you are dissatisfied with the actions of ASMEC or its employees, you are encouraged to first contact the relevant department to resolve the matter informally.
If unresolved, you may submit a formal complaint in writing to the Office of the General Counsel, which will handle it confidentially. The complaint will be reviewed by an appropriate official or the General Counsel directly if it involves ethical misconduct, dishonesty, misuse of information, or conflict of interest.
Directly to the Firm
Firms authorised by ASMEC must have internal mechanisms for handling customer complaints. Contacting the firm directly is often the quickest and most effective approach.
Set out your concerns clearly in writing and keep copies of all correspondence. If you remain dissatisfied with the response, you may contact ASMEC.
To ASMEC
Complaints must be submitted in writing and include:
- Your details (name, address, contact information).
- Details of the person or firm concerned.
- A clear chronology of events, including relevant documents.
All complaints are treated confidentially. ASMEC will contact the subject of the complaint only with your consent.
ASMEC will only consider written complaints. You can submit your complaint by completing a form on the official portal or sending it by mail to ASMEC’s headquarters.
- Complete the ASMEC Complaints Form (available on the main website).
- Submit your written complaint by mail or facsimile to the ASMEC Office.
ASMEC acknowledges all complaints upon receipt. Each complaint is carefully assessed to determine the most appropriate regulatory action.
The assessment may involve consulting internal experts, contacting witnesses, or liaising with other regulatory authorities. ASMEC aims to complete assessments within 28 days, though complex cases may take longer.
Once the assessment is complete, ASMEC will provide a final response and may suggest further action if required.
