Key points include the need for transparent, accessible complaint procedures, prompt response times and clear communication.

REs should implement robust complaints-handling processes in line with CIMA’s Internal Controls Rule and Statement of Guidance and the Corporate Governance Rule, emphasising:

• Leadership accountability: Boards and senior management are responsible for ensuring complaints are addressed promptly and effectively. Clear documentation and corrective actions are essential.
• Accessible communication: REs must provide clear information on how to file a complaint, with visible contact details on websites and in key documents.
• Efficient resolution: Complaints should be acknowledged promptly, with estimated resolution timelines and regular updates.

CIMA advises that REs use complaints data to identify recurring issues and take preventive actions, ensuring complaints are handled fairly and consistently. REs should also train staff thoroughly and promote a culture that values customer feedback for continuous improvement.

CIMA will review REs’ adherence to these standards during inspections and complaint investigations, aiming to strengthen customer trust and service quality across the Cayman Islands.

CIMA’s Circular can be found here and here.