Order on the Complaint Officer and Financial Undertakings' Handling of Complaints

Order on the Complaint Officer and Financial Undertakings' Handling of Complaints

Pursuant to Section 67, paragraph 2, of Act No. 718 of 13 June 2023 on insurance undertakings, Section 43, paragraph 2, of the Act on financial undertakings, as consolidated in Consolidation Act No. 1013 of 21 August 2024, Section 12, paragraph 2, of the Act on insurance mediation, as consolidated in Consolidation Act No. 806 of 21 June 2024, Section 8, paragraph 2, of the Act on company pension funds, as consolidated in Consolidation Act No. 183 of 26 February 2024, Section 29, paragraph 2, of the Act on investment undertakings and others, as consolidated in Consolidation Act No. 1163 of 13 November 2024, Section 7, paragraph 2, of the Act on financial advisors, investment advisors and mortgage credit intermediaries, as consolidated in Consolidation Act No. 1095 of 21 October 2024, Section 8a, paragraph 2, of the Act on real estate credit companies, as consolidated in Consolidation Act No. 285 of 1 March 2023, Section 18, paragraph 3, of the Act on managers of alternative investment funds and others, as consolidated in Consolidation Act No. 231 of 1 March 2024, Section 42, paragraph 2, of the Act on payments, as consolidated in Consolidation Act No. 53 of 18 January 2023, and Section 7, paragraph 2, of Act No. 450 of 24 April 2019 on consumer loan undertakings, it is hereby ordered:

Scope and Definitions

Section 1. This Order applies to the following Danish undertakings as well as foreign undertakings operating in this country through the establishment of a branch, subject to paragraphs 2 and 3:

1. Credit institutions.
2. Mortgage credit institutions.
3. Insurance undertakings and cross-sectoral pension funds.
4. Management companies.
5. Administration companies.
6. Self-managed investment companies.
7. Managers of alternative investment funds.
8. Self-managed alternative investment funds.
9. Insurance intermediaries.
10. Company pension funds.
11. Financial advisors.
12. Investment advisors.
13. Mortgage credit intermediaries.
14. Real estate credit companies.
15. Payment institutions.
16. E-money institutions.
17. Undertakings with a limited authorization to provide payment services.
18. Undertakings with a limited authorization to issue electronic money.
19. Consumer loan undertakings.

Paragraph 2. This Order applies to private customer relationships and business customer relationships, provided that the latter do not differ significantly from a private customer relationship.

Paragraph 3. Section 3 and Section 4, second sentence, do not apply to undertakings with five employees or fewer, subject to paragraph 1.

Section 2. The complaint officer is understood to be a person or an organizational unit responsible for complaint handling within the undertaking.

Paragraph 2. A complaint is understood to be a communication to the complaint officer within the undertaking, or a communication to the undertaking that is handled by the complaint officer, from a customer expressing dissatisfaction with the service or product provided.

General Provisions on the Complaint Officer and Procedures for Handling Complaints

Section 3. An undertaking must draw up a procedure for handling complaints.

Paragraph 2. The procedure for handling complaints must specify the undertaking's procedure for complaint handling and the undertaking's duty to provide information to customers, pursuant to Section 5, paragraph 2. The procedure for handling complaints must ensure that all complaints are handled objectively and that the receipt of a complaint is acknowledged within three working days. The procedure for handling complaints must also ensure that complaints are handled within a reasonable time.

Section 4. An undertaking must appoint a complaint officer. The complaint officer must ensure that all complaints are handled in accordance with the undertaking's procedure for handling complaints.

Section 5. An undertaking must disclose who the undertaking's complaint officer is and where and how one can contact the complaint officer. The information must be easily accessible on the undertaking's website. If an undertaking does not have a website, information about the undertaking's complaint officer must be provided to the customer upon request.

Paragraph 2. The undertaking must advise its customers on how to complain to the undertaking's complaint officer when circumstances so indicate.

Handling of Complaints

Section 6. An undertaking must be organized in such a way that it can easily obtain an overview of the number of complaints received by the undertaking's complaint officer.

Entry into Force

Section 7. This Order enters into force on 1 January 2025.

Paragraph 2. Order No. 1219 of 20 November 2019 on the complaint officer and financial undertakings' handling of complaints is repealed.

Ministry of Industry, Business and Financial Affairs, 6 December 2024

Morten Bødskov
/ Julie Sonne

6 December 2024. No. 1558.

Published on 17 December 2024

Ministry of Industry, Business and Financial Affairs, Danish Financial Supervisory Authority, file no. 24-019443 CQ003042