Financial service provider internal complaints policy and process

Transpower New Zealand Limited and Transpower Finance Limited  ("Financial Service Providers (FSP)"), are required (pursuant to the Financial Service Providers (Registration and Dispute Resolution) Act 2008) to have an internal complaints process for handling complaints relating to their financial services (complaint) and to publicise its availability.

The following is the policy and process that is used for the handling of a FSP complaint:

A: Receiving a complaint

The Senior Legal Compliance Advisor (SLCA) shall:

  1. Acknowledge in writing receipt of the complaint and outline the next steps of the process to the complainant (including FDR’s role in the complaint process);
  2. Capture key complaint information into the Leaders Governance System (LGS) (i.e. date complaint lodged, name and details of complainant, details of complaint and when it occurred);
  3. Allocate a unique complaint reference number for each complaint;
  4. Keep information in the LGS confidential to the parties except with consent of the complainant.

B: Investigating a complaint

The SLCA shall:

  1. Investigate the complaint and recommend to the General Counsel & Company Secretary (GC&CS) what response should be made to the complainant;
  2. The complaint shall be resolved at the earliest opportunity;
  3. The Complainant shall be kept informed of the investigation and realistic time frames for any communications shall be set.

C: Resolving a complaint

  1. The GC&CS shall Issue a Decision Notice in writing to the Complainant that includes:
  2. A summary of the complaint, with the outcome of the investigation and the issues raised;
  3. An acknowledgement of any fault on the part of an FSP;
  4. Details of any offer being made to settle the complaint (including any timeframes for acceptance).

D: Where complaint is not resolved

Where a Decision Notice is not accepted, a Deadlock Notice in writing is sent to the Complainant by the GC&CS stating that the view has been reached that the complaint is unlikely to be resolved internally and stating that the Complainant may now take the complaint free of charge to the Financial Dispute Resolution (within three months of the date of complaint being received).