Information on the settlement of petitions
pursuant to the Regulation no. 9/2015 of Financial Supervisory Authority (ASF)
Societatea de Investiții Financiare Banat-Crișana (hereinafter “SIF Banat-Crișana” or „the company”) endeavours to ensure a fair treatment for all shareholders, providing them with timely and relevant information to enable them exercise their rights in a fair manner. Should the shareholders have complaints regarding the company’s activities performed under Law no. 297/2004 or regarding the information provided by the company following their request, have the right to address SIF Banat-Crișana by means of a petition.
Explanation of terms
The petition is the request, complaint or notice by which SIF Banat-Crișana is informed on incident likely to affect the rights or interests of the petitioner, submitted in writing and filed at the company’s headquarters or its secondary offices, as the case might be, sent by mail or e-mail, through which a petitioner or his/her trustees, acting exclusively on behalf of the petitioner and without own commercial interest, expresses dissatisfaction on the investment services and activities provided by Law no. 297/2004, on the service of portfolio management for collective investment of the CIU or on the information provided by the company following the requests for information received from the petitioners;
Will not be considered as petition the request, complaint or notice concerning activities other than those previously mentioned and / or activities of another entity to which SIF Banat-Crișana has no legal responsibility or regulatory action. The company will not qualify as petitions the complaints communicated by telephone from shareholders / investors. In case of complaints communicated by telephone, SIF Banat-Crișana’s representatives for the relations with shareholders / investors will provide the necessary information and permitted by law for explanation / clarifying of reported cases.
The complaints communicated by telephone not followed by the submission / sending of a written petitions are not considered as petitions and therefore are not subject to the procedure for the settlement complaints, thus they will not be recorded in the unique registry of petitions.
The petitioner is the individual or legal entity, investor in (shareholder of) the company, submitting to SIF Banat-Crișana a petition with reference to the investment services and activities rendered as provided by Law no. 297/2004 or the portfolio management of collective investment of the company.
Petition favourably settled – the petition on which measures have been taken to remedy the situation notified.
Petition settled unfavourably – the petition on which there were no measured disposed.
Unique registry of petitions – the registry in a secure electronic format, per calendar year, the numbering restarting from 01 at the beginning of each year, where the company chronologically records, in the order of their reception, all petitions, regardless the means of their receiving.
Methods for transmitting the petitions to SIF Banat-Crișana:
• filing at the headquarters of the company or branch offices, Monday through Friday, on working days, between 8-16 hours;
• by post sent to the headquarters of SIF Banat-Crișana or branch offices at the addresses listed below;
• by fax, at +40257 250 165;
• by e-mail, at the addresses firstname.lastname@example.org or email@example.com
Minimum content of the petitions:
• identification data of the petitioner: for individuals – full name, personal identification number and address; for legal entities – company name, unique registration code and address;
• contact details: telephone number, e-mail, fax (if applicable);
• capacity in formulating the petition: shareholder, shareholder’s legal representative, heir or legal representative of the shareholder;
• object of the petition.
Petitions can be sent in Romanian or English.
Petitions settlement and communicating the resolution to petitioners
The term for response to any petition is of maximum 30 days from its registration at the company. In case of petitions presenting situations that are more complex, the term for response of 30 days may be extended by additional 15 days. The petitioner will be informed of the reasons for which the response is prolonged (up to 15 days) than the typical 30 days.
Where, for proper settlement of the petition, it is necessary the petitioner to complete the petition with further information, the above time limits will start to run from the date on which the petitioner communicates the information requested by SIF Banat-Crișana.
The Company will respond to petitioners using clear and relevant information on the settlement of the petition or, where applicable, the status of the settlement, or the alternate settlements available.
For the petitions received by email, the company will usually respond by the same method.
When a final solution is adopted that is not responding or is inconsistent with the request of the petitioner, the company will support in writing its point of view, giving the petitioner an explanation on the measures taken and informing the petitioner of his/her right of addressing competent bodies or authorities, and to use the possible ways of resolving disputes amicably, in accordance with the legal provisions in force, or to appeal to ways of alternative dispute resolution.
If the petition does not relate to the activity of the company subject to ASF supervision, it will not be subject to this procedure, and the petitioner will be informed by the company in this regard.
If the petition is erroneously addressed to SIF Banat-Crișana, the petitioner will be contacted by the company and be indicated, to the extent possible, the institution or company to whom he/she should address to.
Alternative Dispute Resolution
Pursuant to legal provisions, consumers (of non-banking financial products) have the right to appeal to ways of alternative dispute resolution. The persons concerned may call on any of these ways of settlement of possible litigations, without excluding each other, unless expressly provided by law.
According to regulations in force, such alternative ways of settling disputes are the following:
- Arbitration – as per Book IV of the Civil Procedure Code (Law 134/2010);
- Mediation – as per Law no. 192/2006 on mediation and the mediator profession, as amended and supplemented;
- The Alternative Dispute Resolution Entity (SAL-Fin) – under:
– ASF Regulation no. 4/2016 on the organisation and operation of the Alternative Dispute Resolution Entity in the non-banking financial field (SAL-Fin);
– Government Ordinance no. 38/2015 on alternative dispute resolution between consumers and traders.
Under the aforementioned legal norms, the Financial Supervisory Authority has established SAL-Fin as an entity for alternative dispute resolution, having competencies, and the task of organising and managing SAL procedures, which proposes or imposes, as appropriate, a solution to/on the parties.
In order to resolve a dispute with a professional/trader through the application of the SAL procedure, the consumer must express this option on a voluntary basis and to apply to SAL-Fin in writing, directly at the headquarters of SAL-Fin, by post or by electronic means of communication.
Any consumer has the right to appeal SAL-Fin, pursuant to ASF Regulation no 4/2016 on the organisation and operation of the Alternative Dispute Resolution Entity in the non-banking financial field (SAL-Fin) and GO no. 38/2015 on the on alternative dispute resolution between consumers and traders.
For more information on the Alternative Dispute Resolution Entity in the non-banking financial field (SAL-Fin) visit the following the link: http://www.salfin.ro/
SAL-Fin dispute resolution procedures are available at: http://www.salfin.ro/legislatie-organizare-si-functionare/
Contact coordinates for SIF Banat-Crișana:
Headquarters: 35A, Calea Victoriei, Arad 310158, Romania, telephone: +40257 304 438, fax: +40257 250 165, email: firstname.lastname@example.org, email@example.com
Bucharest branch: 175, Calea Floreasca, 7th floor, room A1, sector 1, Bucharest, 014459, Romania