Series 3: 7.3.1.4. Customer Complaints

7.3.1.4. Customer Complaints

The adequate supervision of customer complaints requires that a written record of all complaints be maintained and that complaints that meet certain criteria be sent to the main office or guarantor. Criteria for notifying the main office may be based on such factors as the seriousness of the allegations, the monetary amount involved, and which personnel are the subjects of the complaint. If the remote location is responsible for resolving the customer complaint, the home office or guarantor must be notified of the outcome when it is resolved.

An NFA member firm should also contact any customer who files a written or verbal complaint that alleges serious wrongdoing. In addition, written supervisory procedures should provide that the main office or guarantor will review the status of unresolved complaints, and the resolution of each complaint will be used to identify possible rule violations or patterns indicativ