Qualified Financial Adviser (QFA) Regulations Exam 2 Practice Test

The FAIS Ombud is an independent, no-cost channel for resolving complaints about financial services under FAIS. Its purpose is to resolve disputes between clients and advisers by thoroughly investigating the complaint, gathering relevant facts from both sides, and issuing recommendations to remedy the issue. This process focuses on fair outcomes like compensation or changes in practice, without using penalties or regulatory approvals. It doesn’t impose fines, approve products, or set adviser salaries—those functions lie with regulators and employers. So, resolving disputes through investigation and recommendations best describes its role.