Complaint Handling Process

This process has been created to show our users how to easily file a complaint with us, and the actions a user can take to a complaint further.

Background

Gembroker is an online broker that allows New Zealand residents to trade US equities and ETFs with a web dashboard or with advanced systematic investment technology powered by related company Gembot Limited. Gembroker commenced business on 25 May 2022.

Scope of Services

Gembroker is registered as a Services Provider providing the following services: 

  • Keeping, investing, administering, or managing money, securities, or investment portfolios on behalf of other persons;
  • Operating a money or value transfer service.

Complaint Handling and Dispute Resolution

If for any reason you are not satisfied with our financial services, you should notify us directly in the first instant via email admin@gembot.ai.

If the matter is not resolved to your satisfaction, or you do not wish to raise it with us directly, you can make a complaint through the following channels:

  1. By mail at ab@gembot.ai
  2. In writing to the Complaints Manager, Gembroker NZ Limited, Level 8, 23 Customs Street East, Auckland 1010
  3. In person at our office
  4. Or by telephone 0212236249 to our Complaints Manager

Gembroker Complaints Process

Step 1: Receipt of Complaint

1.1. When we receive a complaint from a customer, we will acknowledge its receipt within 2 working days via email.

1.2. We will consider your complaint and assess the nature of the issue. If we require additional information to fully understand your complaint, we may contact you by phone or email to request the necessary details.

Step 2: Resolution Timeline

2.1. Our goal is to resolve complaints as swiftly as possible. We aim to address and resolve complaints within 14 working days of receiving them.

2.2. In the event that we are unable to resolve your complaint within the initial 14-day period, we will contact you within that time to inform you of the delay. We will explain the reasons for the delay and provide an estimated timeline for resolution.

Step 3: Communication of Resolution

3.1. Once we have thoroughly reviewed your complaint, we will contact you by phone or email to communicate our findings and the proposed resolution.

3.2. If we can resolve your complaint during this communication, we will explain the resolution and any required actions on your part.

3.3. If we are unable to reach a resolution during this communication, we will provide a clear explanation of the issues and our proposed plan to address them. This may include additional information and investigation, potential remedies, or further actions.

Step 4: Follow-up and Finalisation

4.1. Following the initial communication, we will continue to work diligently to implement the resolution or complete any necessary actions.

4.2. We will maintain open lines of communication with you, updating you on the progress of resolving your complaint, until the matter is satisfactorily concluded.

Step 5: Escalation 

We take all complaints seriously and handle them with the utmost care and attention to customer satisfaction.

If we cannot resolve your complaint, or if we fail to provide you with a reasonable response within 40 working days of your lodging the said complaint, you can escalate this to the Financial Dispute Resolution Service, a Financial Ombudsman Service and our external independent dispute resolution provider.

Financial Dispute Resolution Service provides a free, independent dispute resolution service that may help investigate or resolve any retail client’s complaint where we have not been able to resolve the complaint to your satisfaction.

You can contact Financial Dispute Resolution Service by:

Emailing enquiries@fdrs.org.nz

Calling (locally) 0508 337 337

Calling (international) +64 4 381 5047

Completing a complaint form on their website here

You can also write to them at: FDRS, Free Post 231075, P O Box 2272, Wellington, 6140, New Zealand.

All complaints, their resolutions, and communication records will be documented and maintained in accordance with regulatory requirements.

We are committed to continuous improvement and will use feedback from complaints to enhance our services and prevent similar issues in the future.