Introduction

Mainspring Nominees Limited (“Mainspring”) is authorised and regulated by the Financial Conduct Authority (“FCA”) in the United Kingdom. In line with the FCA’s rules, we have established, implemented and will continue to maintain policies and procedures to ensure the prompt handling of complaints or potential complaints.

We value each of our clients and are committed to providing a fair and efficient service, at all times. If you are not satisfied with the level of service you have received from us, we would like you to tell us about it. All complaints are taken seriously, and any feedback is appreciated, as it provides us with an opportunity to improve our standards.

Definition of a Complaint

The FCA defines a complaint as “any oral or written expression of dissatisfaction from or on behalf of a person, about the failure to provide a financial service or a redress determination.” A complaint must involve an allegation that the complainant has or may suffer financial loss, material distress or material inconvenience.

Who is this Policy applicable to?

This Policy applies if you are both a retail client and an eligible complainant. An eligible complainant is defined as:

• a private individual/consumer;
• a business which employs fewer than 10 persons and has a turnover of less than €2 million;
• a charity with an annual income of less than £1 million or
• a trustee of a trust which has a net asset value of less than £1 million.

If you do not fall in any of the categories above, we will still treat your complaint as if you do. Please note however, if you are not an eligible complainant you will not be able to refer your complaint to the Financial Ombudsman Service (“FOS”), if you are not satisfied with the way we have handled your complaint. Further details regarding raising your complaint to the FOS, are outlined towards the end of this Policy.

How can a complaint be made?

You can make a complaint to us in writing, by letter or email. Please address any letter to Mainspring Nominees Limited, The Compliance Department, c/o Apex, 125 London Wall, London, EC2Y 5AS. If you wish to email your complaint, please send this to: compliance@mainspringfs.com.

Receiving a complaint

Once a complaint has been received, Mainspring will acknowledge the complaint in writing. It will then be referred to our Complaints Officer, Neil Clark, as soon as reasonably possible. If the Complaints Officer is involved in the subject matter of your complaint, it will be referred to another Senior Manager of Mainspring Nominees Limited.

Upon receiving a complaint, we will provide prompt written acknowledgement that the complaint has been received and that we are investigating the matter in line with this Policy. We will also ensure you are informed of the progress of the measures being taken, to resolve the complaint.

Investigating and resolving complaints

Once a complaint has been received, we will investigate the complaint competently, diligently and impartially and obtain additional information, as necessary.

We will assess the subject matter of the complaint, whether the complaint should be upheld and whether we have reasonable grounds to be satisfied that another respondent may be solely or jointly responsible for the matter alleged in the complaint. We will also determine if any remedial action or redress (or both) may be appropriate for any acts or omissions for which we are responsible.

Following our investigation of the complaint, we will outline our assessment and final conclusions in a fair and clear manner and where appropriate outline our offer of remedial action and/or redress. If you decide to accept any offer of remedial action or redress, we will promptly comply with this.

Resolving your complaints

On receiving your complaint, we have up to eight weeks to consider your complaint.

If we have fully investigated the matter and the complainant has indicated acceptance of our response within three business days of the complaint being raised, we will then consider the complaint resolved.

Following this, we will promptly send a summary resolution communication which informs the complainant that:

(a) we acknowledge a complaint has been made and we now consider the matter resolved;

(b) if they subsequently decide the resolution is unsatisfactory, then that may be able to refer the complaint to the FOS;

(c) how long they have to refer the complaint to the FOS and (d) further information is available on the FOS website.

By the end of the eight weeks, after receiving the complaint we will send you a final response in writing which either accepts the complaint, and where appropriate, offers redress or remedial action or rejects the complaint and provides reasons for doing so. A copy of the Financial Ombudsman Service standard explanatory leaflet and website address will also be provided. If you are dissatisfied with our response, at this point you will be able to refer the complaint to the Ombudsman.

On the rare occasion we are unable to provide you with a final response, we will update you, providing our reasons as to why we may not be in the position to do so and provide you with an updated timescale as to when a full response will be provided. A copy of the Financial Ombudsman Service standard explanatory leaflet and website address will also be provided. If you are dissatisfied with our response, at this point you will be able to refer the complaint to the Ombudsman.

Referring Complaints to The Financial Ombudsman Service (“FOS”)

If a complaint remains unresolved to your satisfaction and you are considered an ‘eligible complainant’ (as defined in the FCA Rules), you may be able to refer the complaint to the Financial Ombudsman Service, Exchange Tower, London, E14 9SR (www.financial-ombudsman.org.uk). The Financial Ombudsman Service is an organisation set up by to give consumers a free and independent service for resolving disputes with financial firms. Details of the persons who are ‘eligible complainants’ can also be obtained from the Financial Ombudsman Service.

If you have received our final response and you are still unsatisfied, as outlined above, you have the right to refer your complaint to the Financial Ombudsman Service, free of charge – but you must do so within six months of the date of our final response. If you do not refer your complaint in time, the Ombudsman will not be able to consider your complaint and will only do so in very limited circumstances. For example, if the Ombudsman believes that the delay was as a result of exceptional circumstances.