Complaint Policy

1. Complaints Process
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Clear Capital Markets Limited (the “Firm” ), as a directly authorised firm, handles complaints in line with relevant regulatory requirements and the Financial Conduct Authority’s (“FCA”) DISP sourcebook in particular.

2. Complaints – General Principles
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The Firm will deal promptly and fairly with complaints (as defined below) referred to it in respect of its business activities carried on from establishments in the UK. The Firm defines a complaint using the definition contained in the FCA glossary, namely:

“Any oral or written expression of dissatisfaction, whether justified or not, from, or on behalf of, a person about the provision of, or failure to provide, a financial service or a redress determination, which:

(a) alleges that the complainant has suffered (or may suffer) financial loss, material distress or material inconvenience; and
(b) either:
(i) to which article 26 of the MiFID Org Regulation applies (*1); or
(ii) which concerns the equivalent business of a third country investment firm.”

To review these complaints, the Firm has in place and operates an appropriate and effective procedure for registering and responding to complaints from eligible complainants, as defined in the FCA’s DISP rules.

The Firm will review and respond to all complaints on a case-by-case basis where they are received from complainants who are not defined as eligible.

Consumer Awareness

The Firm will publish the details of the process to be followed when handling a MiFID complaint. Such details will include information about the complaints management policy and the contact details of the complaints management function. This information will be provided to clients or potential clients, on request, or when acknowledging a complaint.

The Firm will provide information to eligible complainants in a clear, comprehensible, and easily accessible way, about the Financial Ombudsman Service (“FOS”), including FOS’ website address:

(1) on its website, and
(2) if applicable, in the general conditions of its contracts with eligible complainants.(1) The provision of investment services or ancillary services to a client by an investment firm – (2) The provision of one or more
investment services to a client by a CRD credit institution – (3) Selling structured deposits to clients, or advising clients on them, where the
sale or advice is provided by an investment firm or a CRD credit institution – (4) The activities permitted by article 6(3) of the UCITS Directive when carried on by a collective portfolio management investment firm – (5) The activities permitted by article 6(4) of the AIFMD
when carried on by a collective portfolio management investment firm.

2.1 Complaints Management

The Firm’s senior management is responsible for the implementation of the complaints management policy and for monitoring compliance with it. The Firm will enable clients and potential clients to submit MiFID complaints free of charge.

The Firm’s compliance function will analyse complaints and complaints handling data to ensure that it identifies and addresses any risks or issues.

MiFID complaints should be handled effectively and in an independent manner.

2.2 Complaints Rules

Once a MiFID complaint has been received by the Firm, the Firm will:

(1) Investigate the complaint competently, diligently, and impartially, obtaining additional information, as necessary.
(2) Assess fairly, consistently, and promptly:
(a) The subject matter of the complaint.
(b) Whether the complaint should be upheld.
(c) What remedial action or redress (or both) may be appropriate; and
(d) If appropriate, whether it has reasonable grounds to be satisfied that another respondent may be solely or jointly responsible for the matter alleged in the complaint; and
(3) Comply promptly with any offer of remedial action or redress accepted by the complainant.


Factors that may be relevant in the assessment of a MiFID complaint include the following:


(1) All the evidence available and the circumstances of the complaint.
(2) Similarities with other complaints received by the respondent.
(3) Relevant guidance published by the FCA, other relevant regulators, the Financial Ombudsman Service or former ombudsman schemes; and
(4) Appropriate analysis of decisions by the FOS concerning similar complaints received by the Firm.


Where a MiFID complaint against the Firm is referred to FOS, the Firm will cooperate fully with FOS and comply promptly with any settlements or awards made by it.

When handling a complaint, the Firm will communicate with clients or potential clients clearly, in plain language that is easy to understand and will reply to the complaint without undue delay.

The Firm will communicate its position on the complaint to clients or potential clients and inform the clients or potential clients about their options, including that they may be able to refer the complaint to an alternative dispute resolution entity, as defined in Article 4(h) of Directive 2013/11/EU of the European Parliament and Council on consumer ADR, or that the client may be able to take civil action.
The explanation given by the firm to clients or potential clients in accordance with DISP 1.1A.25EU will also:

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(1) Refer to the fact that the complainant has made a MiFID complaint and inform the complainant that the Firm now considers the MiFID complaint to have been resolved.
(2) Inform the complainant that if still dissatisfied with the resolution of the MiFID complaint, the complainant may be able to refer it to FOS.
(3) Indicate whether or not the respondent consents to waiving the relevant time limits in DISP 2.8.2R or DISP 2.8.7R – Was the complaint referred to FOS in time – by including the appropriate wording set out in DISP 1 Annex 3R.
(4) Provide the website address of FOS; and(5) Refer to the availability of further information on FOS’ website.

2.3 Complaints Resolved within Three Business Days

If the Firm resolves a MiFID complaint by close of business on the third business day following the day on which it is received, it may choose to comply with DISP
1.1A.24EU to DISP 1.1A.27G rather than with DISP 1.1A.28R to DISP 1.1A.34G.

2.4 Complaints Forwarding Rules

DISP 1.7 (reproduced below) also applies to a MiFID complaint received by the Firm.

If the Firm has reasonable grounds to be satisfied that another Firm may be solely or jointly responsible for the complaint, the Firm may forward the complaint, or the relevant part of it, in writing to that other Firm. In doing so the Firm must ensure that it:

(1) Does so promptly.

(2) Informs the complainant promptly in a final response why the complaint has been forwarded by the Firm to the other Firm, and of the other Firm’s contact details; and

(3) Where jointly responsible for the fault alleged in the complaint, the Firm complies with its own obligations under this chapter in respect of that part of the complaint it has not forwarded.


When the Firm receives a complaint that has been forwarded to it by another Firm under DISP 1.7.1R, the complaint is treated for the purposes of DISP as if made directly to the Firm, and as if received by it when the forwarded complaint was received.

On receiving a forwarded complaint, the standard time limits will apply from the date on which the Firmreceives the forwarded complaint.

2.5 Complaints Forwarding Rules

If the Firm receives a complaint which it considers is outside the time limits for referral to FOS, it may reject the complaint without considering its merits. Where this is the case, the Firm will explain to the complainant why it is considered that the complainant is out of time, this will take the form of a final response letter and will indicate that FOS may waive the time limits in exceptional circumstances.

2.6 Complaints Records

The Firm will keep a record of the complaints received and the measures taken for their resolution.

2.7 Complaints Reporting

The Firm will provide information on complaints and complaints handling to the FCA, as the UK’s competent authority, and, where applicable under national law, to an Alternative Dispute Resolution (“ADR”) entity.

The complaints reporting rules (DISP 1.10 below) also apply to the MiFID complaints of the Firm, except that the relevant parts of the report which the Firm must provide to the FCA under DISP 1.10.1R must, in relation to MiFID complaints, include information about such complaints received from Retail clients, Professional clients, and (where relevant) eligible counterparties rather than eligible complainants. DISP 1.10

Twice a year the Firm will provide the FCA with a complete [REGDATA] report concerning complaints received from eligible complainants, set out will be set out in the format in DISP 1 Annex 1R. Complaints Data Publication

The Complaints Data Publication rules apply to the MiFID complaints of the Firm and can be found at DISP 1.10A.

3. ADR Entities and Branches of UK MiFID Investment Firms in other EEA States.

Any branch of the Firm in another EEA State must adhere to one or more relevant ADR entities in that EEA
State in respect of consumer disputes concerning investment services and ancillary services.