Complaints Procedure
The sequence of the Complaints Procedure is as follows:
- Submission of a Complaint on behalf of a client
Any Client of the Company may submit a complaint in writing and address it to the AML Compliance Officer who also serves as the Complaints Officer of the Company. It is his responsibility to administer and investigate the complaints, which may be submitted by the Company’s Clients.
The Complaint Form can be found here.
For the purpose of filing a complaint to the Company, please complete the Complaints Form attached hereinafter and submit it in any of the following ways:
a. Sending via registered post the attached Complaints Form at the following registered address:
26 Spyrou Kyprianou Street, Prestige Plaza, 1st Floor
4040 Germasogeia, Limassol, Cyprus
b. Email submission to the following email address: angeliki.georgiou@xtelluseurope.com
- Acknowledgement of receipt of the Complaint
The Company is obliged to acknowledge receipt of your complaint within five (5) days from the receipt of your complaint.
- Internal evaluation and handling of the Complaint
The Company will review the Complaint in depth and try to resolve it without any undue delay, once it acknowledges receipt. The responsible officer may contact you directly, either by email or telephone, in order to kindly request further information and/or clarifications relevant to your complaint.
The assigned officer will kindly request your cooperation through the whole lifecycle of the complaint until its final resolution.
The Company commits itself to take all actions deemed necessary to investigate and try to derive an outcome to your compliant, within the period of two (2) months from the date of receipt of your Complaint. During the investigation of the complaint, the Company informs the Client of the handling process of his/her complaint.
In the event that your complaint requires more in-depth investigation, and the Company cannot derive an outcome within the period of two (2) months from the date of receipt of your Complaint, the Company informs the Client of the reasons for the delay and indicates the period of time within which it is possible to complete the investigation. This period cannot exceed three (3) months from the period of submission of the complaint. The delivery of the outcome of the investigation depends on the complexity of the case and the level of your co-operation.
In case where you do not provide the requested information, the responsible officer will contact you once more directly, either by email or telephone, in order to kindly request further information and/or clarifications relevant to your complaint. If the requested information is not provided following the second contact, the complaint will be closed and deemed unresolved, due to missing information.
The Company shall record and file your complaint with a unique reference number. This reference number can be used by you during your communication with the Company or in the case of contacting other authorities (please, see Point 4 below).
- Final Outcome of the Company’s Investigation
When the Company reaches a final decision, it will inform you without any delay. The Company shall also provide you with an explanation of its position on the given Complaint. Further, it shall proceed to propose corrective actions and remedial measures to be taken, if applicable and necessary.
In the event, where you are not satisfied with the outcome of the Company’s investigation, you reserve the right to escalate your complaint, within four (4) months from the date the Company has provided you with its final decision, with the following authorities:
a. The Cyprus Securities and Exchange Commission: http://www.cysec.gov.cy and,
b. The Financial Ombudsman Service of the Republic of Cyprus: http://www.financialombudsman.gov.cy
In the unlikely event, that the Company was unable to provide you with a final response within the two (2) months’ time period specified above you may again contact the office of the Financial Ombudsman of the Republic of Cyprus no later than four (4) months after the date, when we ought to have provided you with our final decision.
You may escalate your complaint with the Cyprus Securities and Exchange Commission, however, please note that the Cyprus Securities and Exchange Commission does not have restitution powers and therefore does not investigate individual complaints.
It is understood that your right to take legal action against the Company remains unaffected from the existence or use of any complaints’ procedures referred to above.