Part 1 – General Principles

MaxCap (the respondent) will maintain effective and transparent procedures for the reasonable and prompt handling of complaints compatible with the relevant regulatory requirements.  We will never charge customers to make a complaint, and we will never use premium rate phone lines.

In addition to responding to all complaints fairly and consistently, MaxCap will carry out root cause analysis and promptly identify and remedy any recurring or systemic problems. MaxCap will have regard to FCA Principles 6, 7 and 12 (Treating Customers Fairly and Communications with Clients) when it identifies problems, root causes or compliance failures, and it will consider whether it ought to act on its own initiative with regard to the position of customers who may have suffered detriment from, or been potentially disadvantaged by such factors, but who have not complained.

This Policy and Procedures:

1. allow complaints to be made by any reasonable means;
2. recognise complaints as requiring resolution;
3. take into account the fact that MaxCap’s product loans does not fall under the Regulated Activities Order and as non-regulated product, therefore outside of the scope of the Financial Ombudsman Services;
4. take account of the nature, scale and complexity of MaxCap’s business;
5. assess and take account of guidance by the FCA, and other relevant regulators when dealing with complaints;
6. put in place appropriate management controls and reasonable steps to ensure that in handling complaints, MaxCap identifies and remedies any recurring or systemic problems;
7. allow for the complaint to be investigated, assessed and resolved;
8. allow the collection of management information and reporting in recurring or systemic problems; and
9. keeping records and decisions taken by senior management in response to management information on the root causes of complaints.

What is a complaint?

The FCA defines a complaint as: “Any expression of dissatisfaction, whether oral or written, and whether justified or not, from or on behalf of an eligible complainant about the firm’s provision of, or failure to provide, a financial service”

Who can make a complaint?

Any customer, business or person, or their representative can make a complaint.

How to make a complaint?

• Customers can make a complaint via complaints@maxcap.co.uk or you can call us on our free phone number 0800 043 0616

To ensure consistency and fair treatment of all customers the same process will apply to dealing with all complaints. This should be read alongside the specific rules relating to timeframes and escalations associated for different categories of complaints noted below.

The Complaint will be captured and recorded in our complaints log, ensuring that the complaint is categorised accurately.

The following steps must then be taken by MaxCap:

1. Acknowledge the complaint to the complainant using the relevant template.
2. Where necessary, request all information relating to the complaint – such as agreements, terms and conditions, contact notes etc
3. Investigate the complaint competently, diligently, impartially and assess fairly, consistently and promptly:
   • the subject matter of the complaint;
   • the scope and severity of any loss suffered;
   • whether the complaint will be upheld;
   • what remedial action or redress (or both) may be appropriate; and
   • if appropriate, whether it has reasonable grounds to be satisfied that another firm may be solely or jointly responsible for the matter alleged in the complaint, taking into account all relevant factors.
4. Ensure that the customer is regularly (at least every 10 working days) updated on the status of the complaint investigation. The update must be provided in writing.
5. Ensure that the customer receives a final response to the complainant within the relevant timescale. The final response should, in a way that is fair, clear and not misleading, set out the MaxCap’s assessment of the complaint, its decision, and any offer of remedial action or redress.

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

• all the evidence available and the particular circumstances of the complaint;
• similarities with other complaints received; and
• relevant guidance published by the FCA

MaxCap aims to resolve complaints at the earliest possible opportunity, minimising the number of open unresolved complaints.

Root cause analysis

MaxCap will conduct root cause analysis of any complaint that is upheld. The analysis must be detailed and comprehensive enough to identify and remedy any recurring or systemic problems.

In addition, MaxCap will conduct root cause analysis of complaints that are not upheld if we identify 10 or more complaints of the same apparent cause in any one year, then MaxCap implements a root cause analysis to assess any common root cause and prepares a findings and recommendations report for the CEO and Head of Compliance to consider further.

Part 2 – Complaint handling rules 

Complaints resolved within three business days – where a complaint is resolved within three business days the complaints time limit rules (and the complaints forwarding rules) do not apply. A complaint is only considered to be resolved when the complainant has indicated acceptance of a response from MaxCap. Whilst the complainant’s acceptance need not be in writing, a Summary Response Letter must be sent (via post or email) which:

1. refers to the fact that the complainant has made a complaint and informs the complainant that MaxCap now considers the complaint to have been resolved;
2. informs the complainant that if they subsequently decides that they are dissatisfied with the resolution of the complaint they will not be eligible to refer the complaint to the Financial Ombudsman Service.

Acknowledgement – On receipt of a complaint, MaxCap must:

1. send the complainant a prompt (within 3 business days) written acknowledgement providing early reassurance that it has received the complaint and is dealing with it; and
2. ensure the complainant is kept informed thereafter of the progress of the measures being taken for the complaint’s resolution.

The Acknowledgment Letter Template must be used to acknowledge the complaint.

Holding Response – Where the complaint cannot be resolved within four weeks, a holding response must be sent using the Four Week Holding Letter Template.

Final Response – A final response must be issued within eight weeks from the receipt of the complaint. The final response should be drafted as a written response from MaxCap which:

1. accepts the complaint and, where it considers appropriate, offers redress or remedial action; or;
2. offers redress or remedial action without accepting the complaint; or
3. rejects the complaint and gives reasons for doing so.

The Final Response Upheld or Final Response Rejected templates should be used.

Where a final response cannot be provided – MaxCap must write a letter to the complainant which:

• Explains why it is not in a position to make a final response and indicates when it expects to be able to provide one.

Part 3 – Record Keeping

MaxCap maintains an accurate Complaints Log of each complaint it has received. This register must be updated with the following details for each complaint as a minimum:

1. Dates: when a complaint is received, with dates of communications issued to customers;
2. Type of Complaint;
3. Area of complaint: detailing whether the complaint relates to sales, underwriting, administration, etc
4. Personal Details: of the staff handling the complaint;
5. Status / Outcome: what status is the complaint in (in case of closed matters, the outcome of the complaint); and
6. Root cause of the complaint.

MaxCap will retain records of all customer complaints for a minimum of three years from the date the complaint was received. These records are kept for monitoring and reporting purposes.

Complaints forwarding rules

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

1. Does so promptly (and in any event within 2 business days);
2. Informs the complainant promptly in a final response why the complaint has been forwarded by MaxCap to the other firm, and of the other firm’s contact details; and
3. Where jointly responsible for the fault alleged in the complaint, MaxCap complies with its own obligations set out in this Policy in respect of that part of the complaint it has not forwarded.
4. Each party will work to address the part of the complaint and respond individually to the customer, quoting both parties’ complaint numbers, sharing draft complaint responses as needed and explaining to the customer which part of the complaint that they are addressing.  It should be made clear to the customer which entity is responding to which part of the complaint.
5. Complaints may entail the customer providing health information (i.e. special category data in terms of the GDPR).  Each party will work to ensure that health data is held securely and in line with GDPR requirement for such data.

Dealing with a forwarded complaint

When MaxCap receives a complaint that has been forwarded to it by another firm – the complaint is treated as if made directly to MaxCap.

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

Part 4 – Closing a Complaint

A closed complaint is a complaint where:

• MaxCap has sent a final response;
• The complainant has indicated in writing acceptance of MaxCap‘s earlier response;
• If a complaint is reported as closed because the complainant has not replied to MaxCap within eight weeks of a written response, MaxCap may treat the date of that response as the date when the complaint was closed for the purposes of the reporting requirements.
• A complaint is resolved where the complainant has indicated acceptance of a response MaxCap, with neither the response nor acceptance being having to be writing.
• MaxCap informs the complainant that that if s(he) subsequently decide with the resolution of the complaint they are will not be eligible to refer the matter to the Financial Obudsman Service.