What is the primary function of the FAIS Ombud?

• A. To resolve disputes between clients and FSPs regarding financial advice and intermediary services
• B. To regulate advertising claims for financial products
• C. To set regulatory capital requirements for firms
• D. To license financial advisers

Answer: (A)

The FAIS Ombud exists to resolve disputes that arise when a client believes they were not properly advised or serviced by a financial service provider under FAIS. It provides an accessible, informal, low-cost path to settle complaints about financial advice and intermediary services, offering decisions or remedies to help redress the client. The Ombud is independent from the providers and regulators, focused on fair outcomes within the FAIS framework. Advertising claims, capital requirements, and licensing are handled by other regulators or bodies, not by the Ombud.