Section 32: Protection of consumers of financial services and financial products

32. Protection of consumers of financial services and financial products (1) For the purposes of discharging its functions under this Act, the Commission may develop and promote such programmes and initiatives, where it deems it necessary in collaboration with financial institutions or bodies representing the financial services industry, to inform and educate consumers or potential consumers of financial products and financial services. (2) Any consumer of a financial product or of financial services who is aggrieved by any act or omission of a licensee may make a complaint in writing to the Commission. (3) The Chief Executive shall examine any complaint made under subsection (2) and shall take such action as he thinks fit. (4) The Commission may, in accordance with the powers under section 42, request such information as may be required for the purposes of subsection (3). (5) The Commission shall, where possible, give a reply to the complainant within 3 months as from the date it receives the complaint. (6) Where in the course of an examination of a complaint it is suspected that there is a breach of a relevant Act, the Chief Executive may conduct an investigation under section 44. (7) The Chief Executive shall not examine a complaint where it is made 12 months after the date of the act or omission unless otherwise authorised by the Board. (8) The Commission may make such FSC Rules or provide such guidelines as may be necessary for the purposes of this section. PART VII – SELF-REGULATORY ORGANISATIONS