UAB Alpha Asset Management Complaints Handling Procedure
1.1. These Rules have been prepared in accordance with the Law on Markets in Financial Instruments of the Republic of Lithuania, the Rules for Handling Complaints Received by Financial Market Participants approved by Resolution No. 03-105 of the Board of the Bank of Lithuania dated 6 June 2013, the Law on Collective Investment Undertakings of the Republic of Lithuania, the Law on Markets in Financial Instruments of the Republic of Lithuania, and other legal acts applicable to the activities of management companies.
1.2. The purpose of these Rules is to establish and ensure a proper and effective procedure for the handling of Complaints.
2.1. Unless the context requires otherwise, the following capitalised terms used in these Rules shall have the meanings set out below:
2.1.1. Compliance Officer – the person responsible for performing the compliance function.
2.1.2. Responsible Person – a person appointed by the Head of the Management Company who is responsible for handling Complaints received by the Management Company.
2.1.3. Client – a natural or legal person to whom the Management Company provides services, or a prospective client.
2.1.4. Complaint – a written submission made by a Client to the Management Company in the Lithuanian language, alleging that the Client's rights or legitimate interests in relation to services provided by the Management Company or agreements concluded with the Management Company have been infringed, and requesting that the Client's claims be addressed.
2.1.5. Complaints Register – a register or equivalent electronic document registration system in which Complaints received by post, fax, email, or other electronic means are recorded.
3.1. All Complaints received by the Management Company shall be recorded in the Complaints Register.
3.2. The following information shall be recorded in the Complaints Register:
3.2.1. The Client's name and surname or company name;
3.2.2. The Client's address specified in the Complaint;
3.2.3. The date and method of receipt of the Complaint;
3.2.4. The subject matter of the Complaint (brief description);
3.2.5. The Management Company's services to which the Complaint relates and the type of such services;
3.2.6. The date and method of the response provided to the Client;
3.2.7. The final outcome of the Complaint investigation (decision).
3.3. Illegible or incomprehensible Complaints shall be returned to the Client, indicating the deficiencies identified and requesting clarification or correction. Anonymous Complaints shall not be considered by the Management Company.
3.4. The Compliance Officer shall be informed of the receipt of each Complaint and shall have the right to review Complaints and the outcomes of their investigation.
3.5. Registered Complaints shall be investigated by the Responsible Person. In the case of complex Complaints requiring expertise from different professional fields, a Complaints Review Committee may be established.
3.6. The Responsible Person or the Complaints Review Committee shall assess all documents, information, and circumstances relevant to the Complaint and shall submit its conclusions and recommendations to the Head of the Management Company for decision-making purposes.
3.7. The Responsible Person or the Complaints Review Committee shall:
3.7.1. Collect all information and documentation necessary for the investigation of the Complaint, including agreements, correspondence with the Client, emails, and other relevant documents;
3.7.2. Review and analyse all information related to the Complaint under investigation;
3.7.3. Where necessary, request explanations from the employee whose actions are the subject of the Complaint, whether in writing, by email, or orally;
3.7.4. Where necessary, involve employees possessing specialised knowledge required to assess particular aspects of the Complaint, including legal, economic, financial, or other relevant expertise;
3.7.5. Where additional information or supporting documentation is required, request the Client to provide such information and/or documents in writing within a specified timeframe.
3.8. The Responsible Person or the Complaints Review Committee shall investigate the Complaint and submit its conclusions to the Head of the Management Company as soon as reasonably practicable, but no later than within 20 calendar days from the date of receipt of the Complaint.
3.9. The decision of the Head of the Management Company regarding the Complaint shall be documented in writing and communicated to the Client in accordance with Section 3.10 of these Rules.
3.10. Regardless of the manner in which the Complaint was submitted (including by post, email, or other means), the Management Company's response shall always be provided in writing and delivered to the Client through the Client's preferred communication channel (including by post, email, or collection at the Management Company's premises).
3.11. A Complaint must be investigated and a response provided no later than within 30 calendar days from the date of receipt of the Complaint. Where a Complaint cannot be investigated within this period, the Responsible Person shall inform the Client of the reasons for the delay and indicate the date by which the Complaint will be investigated and a response provided.
3.12. Where a Complaint is rejected in whole or in part, the response provided to the Client shall state the reasons for the decision and inform the Client of available remedies for the protection of their interests, including, without limitation, dispute resolution mechanisms and judicial remedies.
3.13. Complaints, all materials related to their investigation, documents evidencing the outcome of the Complaint review process, and responses provided to Clients shall be retained for a minimum period of three years from the date on which the final response is provided to the Client.
4.1. The results of Complaint handling within the Management Company shall be assessed on an ongoing basis. The Compliance Officer shall be responsible for evaluating the outcomes of the Complaint handling process.
4.2. For the purposes of assessing Complaint handling results, the Compliance Officer shall:
4.2.1. Collect information regarding similar Complaints relating to a particular service and analyse such information in order to identify the root causes of Complaints and establish priorities for corrective actions;
4.2.2. Assess whether the root causes identified in relation to specific Complaints may also give rise to Complaints concerning other services provided by the Management Company;
4.2.3. Evaluate whether the root causes of Complaints can be eliminated and determine appropriate corrective measures;
4.2.4. Where necessary, submit recommendations to the Head of the Management Company (where the Compliance Officer is not the Head of the Management Company) regarding measures that may be taken to eliminate identified root causes of Complaints;
4.2.5. Ensure that information regarding recurring or systemic causes of Complaints is regularly reported to the Head of the Management Company (where the Compliance Officer is not the Chief Executive Officer of the Company).
4.3. The Management Company shall retain information relating to decisions made by the Head of the Management Company concerning the remediation of operational deficiencies and risk management measures identified through the Complaint handling process for a minimum period of three years.
5.1. These Rules shall enter into force upon their approval and shall remain in full force and effect until amended, supplemented, or repealed.
5.2. The Board of the Management Company shall review these Rules at least once every year and, where necessary, update them accordingly.
5.3. The Head of the Management Company shall be responsible for the implementation, oversight, updating, and monitoring of compliance with these Rules.
5.4. Employees of the Management Company shall be informed of these Rules, as well as any amendments and/or supplements thereto, and shall acknowledge such information in writing.
