Complaints Handling Policy

Table of Contents

• 1. Policy Statement
• 2. Complaints Handling Procedure
• 3. Complaint Handling Procedure involving Third Party Entities
• 4. Confidentiality
• 5. Recordkeeping
• 6. Client Rights
• 7. Continuous Improvement
• 8. Communication of Policy

1. POLICY STATEMENT

The company is committed to providing the best possible service to our clients. We value your feedback and take all complaints seriously. This policy outlines the process for handling and resolving client complaints effectively and efficiently.

Objectives:

Our complaints handling policy aims to:

• Ensure that clients have a clear and accessible process to raise complaints.
• Resolve complaints in a fair and timely manner.
• Use client feedback to improve our services continuously.

2. COMPLAINTS HANDLING PROCEDURE

2.1 Receipt of Complaints

Submitting a Complaint: Clients can submit a complaint through the following channels:

• Email: contact@mkx.ae
• Phone: 04-2977655
• Online form: through the “contact us” page on our website www.mkx.ae
• In Person: R260 Building Shop 01, Baniyas Square, Al Rigga, Deira, Dubai, UAE

Acknowledgment: The company shall acknowledge all complaints within one (1) week of a complaint being made. The acknowledgement will be made in writing via email, confirming receipt of the complaint and outlining the next steps in the process.

2.2 Investigation

Assignment: The Compliance Officer or the person designated by the company to receive and handle complaints will assign the complaint to a team member or to himself, whichever is applicable, to investigate the complaint. The Compliance Officer or the Complaints Officer will have the appropriate level of authority and independence to carry out the investigations.

Investigation Process: The Compliance Officer or the Complaints Officer, or the team member whom the complaint was assigned to, will gather relevant information and conduct a thorough investigation. This may involve interviewing staff, reviewing documents, and liaising with the complainant for additional information regarding the complaint.

2.3 Resolution

• The company will provide a written response to the complainant, outlining our findings and any proposed resolutions within four (4) weeks of receiving the complaint. In extraordinary circumstances, where the complaint resolution may take longer than four weeks, the company will provide an update and an explanation for the delay within four (4) weeks upon receipt of the complaint and the complaint must be resolved within eight (8) weeks from the date of receipt of the complaint.
• Closure: Once the complainant has accepted the proposed resolution or otherwise indicated that the complaint is resolved, the complaint will be closed.
• Escalation: If the complainant remains dissatisfied with the outcome, the complainant has the right to appeal the decision. The appeal must be submitted within four (4) weeks from the date of resolution. The appeal will be reviewed by a member of the Senior Manager who was not involved with the initial investigation. The review must be completed within two (2) weeks from the date of receipt of the appeal, and the complainant will be informed of the final decision in writing.

3. COMPLAINT HANDLING PROCEDURE INVOLVING THIRD-PARTY ENTITIES

Initial Complaint Handling
When a complaint involving a third-party entity is received, it is immediately logged. The Compliance or Complaints Officer acknowledges the receipt of the complaint to the client within one week, providing an overview of the next steps and expected timelines.

Assessment and Escalation
The complaint is then escalated to the relevant department that interacts with the third-party entity. A thorough assessment is conducted, and the third-party entity is notified within 2 business days. A dedicated point of contact is assigned to manage the communication and coordination with the third-party entity.

Joint Resolution Process
A collaborative investigation is initiated, involving both MKX and the third-party entity, to determine the root cause and develop a resolution plan. MKX ensures that all actions taken are documented, and the client is kept informed throughout the process. MKX remains responsible for the final resolution of the complaint, ensuring the client's concerns are addressed satisfactorily.

Final Resolution and Follow-Up
Once a resolution is reached, MKX communicates the outcome to the client, detailing the actions taken by both MKX and the third-party entity. The resolution and all related communications are recorded. Follow-up reviews are conducted to ensure the client’s satisfaction with the resolution.

Continuous Improvement
Regular analysis of complaints involving third-party entities is performed to identify trends and areas for improvement. Feedback is incorporated into procedural updates, and training sessions are held to enhance the effectiveness of the complaint handling process.

By implementing these procedures, MKX ensures a thorough, transparent, and efficient handling of complaints involving third-party entities, maintaining client trust and satisfaction while retaining responsibility for the resolution of such complaints.

4. CONFIDENTIALITY

The company will treat all information related to complaints with the utmost confidentiality. The company will only share information with parties directly involved in the complaint resolution process.

5. RECORDKEEPING

The company will keep a record and documentation of all the complaints, the investigations, and resolutions, which will be retained for a minimum of eight (8) years. MKX maintains comprehensive records of all complaints received, the measures taken in response, and the resolution of each complaint. The company keeps a detailed log that includes information about the complainant, the nature of the complaint, and the actions taken. Additionally, complaint statistics and trends are regularly reported to senior management for review and action.

The complaints will be reviewed periodically to identify trends and areas for improvement.

6. CLIENT RIGHTS

Clients have the right to raise a complaint at any time, and they will not face any negative repercussions for doing so. No fees or charges are imposed for the submission or handling of complaints.

7. CONTINUOUS IMPROVEMENT

The company is committed to using feedback from complaints to improve our services and prevent similar issues in the future. Based on insights gained from complaint analysis, policies and procedures are updated as necessary, in addition to the mandatory annual review.

8. COMMUNICATION OF POLICY

This policy will be communicated to all staff and will be available on the company’s website and in the customer service areas.

This policy was designed to comply with the VARA Market Conduct Rulebook and the applicable laws and regulations.

Please reach out to our customer support team if you have any questions or require further information at contact@mkx.ae.