A committee in the Capital Markets Authority called the “Complaints and Grievances Committee” is concerned with looking into complaints related to capital market transactions, whereby every person has the right to file a complaint with the Complaints and Grievances Committee, whether against a person authorized to engage in securities activities or against any other person for violations and crimes stipulated In the law establishing the Capital Markets Authority and regulating securities activity and its executive regulations.
Complaint data
The complaint shall be submitted in writing according to the special form prepared for this purpose by the Capital Markets Authority to the Secretariat of the Complaints and Grievances Committee, and includes the following data:
1 . The name of the complainant, his capacity in submitting the complaint, his profession and his address, including the details of the civil number or identity, telephone, fax and e-mail.
2 . The content of the complaint and supporting documents.
3 . The signature of the complainant and the date of filing the complaint.
4 . The defendant and his address, including telephone, fax and e-mail details.
5 . Informing whether the complaint was submitted to another party and specifying it, and whether any legal measures have been taken in this regard.
Complaint Check
The Secretariat of the Complaints and Grievances Committee shall examine the complaint submitted by the complainant to ensure that the following are met:
- The data required in the complaint form.
- The complainant should not have previously submitted the subject matter of the complaint before the judiciary or the Public Prosecution, or if these two bodies had previously decided on it.
- The complainant relied in his complaint on the articles of the law establishing the Capital Markets Authority and regulating the activity of securities and its executive regulations or the decisions and instructions issued by the Capital Markets Authority within the framework of the law.
- The subject of the complaint should not have previously been submitted to the Complaints and Grievances Committee, unless it contains new facts
The complainant shall pay the fee prescribed for the complaint if all these conditions are met
under complaint
The Secretariat of the Complaints and Grievances Committee maintains a special register in which the completed complaints submitted to it are recorded. Complaints are recorded in this register – a serial number – on the day they are received, and a copy of his complaint is given to the complainant with the registration number and date on it.
Then the Secretary of the Complaints and Grievances Committee, after registering the complaint, refers it to the Chairman of the Complaints and Grievances Committee, and the Executive Director of the Capital Markets Authority shall be notified of the complaint within two working days.
Investigation and settlement of the complaint
The Complaints and Grievances Committee conducts an administrative investigation into the complaint in accordance with the procedures and powers vested in it. After completing the investigation procedures, the Complaints and Grievances Committee may recommend to the Board of Commissioners of the Capital Markets Authority to save the complaint, or refer it to the Disciplinary Board or the Public Prosecution or take other legal measures.
The Complaints and Grievances Committee shall submit its recommendation in the complaint to the Board of Commissioners of the Capital Markets Authority within thirty days from the date of its submission, and it may extend this period if it deems it justified.
The Secretariat of the Complaints and Grievances Committee shall notify the Executive Director of the Capital Markets Authority and the parties to the complaint of the decision of the Board of Commissioners of the Capital Markets Authority to decide on it within five working days from the date of its issuance.
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