Client defense regulation
TITLE I
ON THE CUSTOMER SERVICES, THE OWNER AND FUNCTIONS
CHAPTER I
APPLICABLE LEGISLATION AND CUSTOMER SERVICE DEPARTMENT
Article 1. This is the regulation for the Customer Service of FLOBERS CROWDFUNDING SPAIN PFP, S.L. (this “theRegulation”), regulates the activities of the Customer Service department (the “Service”) which is governed by theOrden ECO/734/2004and the Delegated Regulation (EU) 2022/2117, as well as any other ancillary legislation that may apply.
The regulation is subject to verification by the National Securities Market Commission (CNMV) as the company’s supervisory body.
Article 2. The Customer Service department will act independently of other company commercial and operational departments of the company to ensure that it autonomously makes its decisions independently in connection with its activities and avoids any potential conflict.
The company will take the necessary measures to ensure that the procedures for transmitting the required information to the Customer Service department respond to the principles of speed, security, efficiency, and coordination principles.
The Customer Service department will be provided with the necessary human, material, technical, and organizational resources to carry out its functions. The company will ensure that the department staff has adequate knowledge of transparency and customer protection regulations (hereinafter, any mention made to “customers” encompasses and must, therefore, be considered to be made indistinctly to natural or legal persons, Spanish or foreign, who meet the status of user of the services provided by the company).
CHAPTER II
CUSTOMER SERVICES OFFICER: APPOINTMENT, DURATION OF THE APPOINTMENT, CAUSES OF INCOMPATIBILITY OR INELIGIBILITY CAUSES AND TERMINATION OF APPOINTMENT
Article 3. The Customer Service Officer (CSO) shall be a person with commercial and professional honorability, knowledge, and experience necessary to carry out their functions in accordance with Article 5 of the Order ECO/734/2004.
The appointment, termination, substitution, and any other relevant variation in the position will be communicated to CNMV.
Article 4. The duration of the CSO’s position will be indefinite until their dismissal by the company’s management body or until any of the causes detailed in Article 6 occur.
Article 5. Some of the causes that can lead to the dismissal of the holder of the Customer Service department include:
- Declaration of bankruptcy or receivership without rehabilitation.
- Disqualification or suspension, criminally or administratively, from holding public or management positions or directing credit entities.
- Criminal records for crimes of forgery, whether against the Public Treasury or otherwise, punishable insolvency, document custody violation, violation of secrets, money laundering and financing of terrorism, embezzlement of public funds, discovery, and disclosure of secrets or against property.
- Incompatibility: Those who have operational or commercial responsibilities within the Company.
Article 6. The CSO will cease in its role following the occurrence of any of the following:
- Loss of the requirements conditional to their eligibility in accordance with this Regulation and applicable regulations.
- Death or incapacity.
- Resignation.
- Termination of their employment/contractual relationship with the Company.
- Motivated agreement of the Company’s management body, particularly and without limitation, in case of serious non-compliance with their functions.
In the CSO position is vacated, the Company’s management body, without prejudice to compliance with the resolutions already issued, must appoint a new Service holder within thirty (30) days following the date on which the vacancy occurred.
CHAPTER III
ROLE OF THE CUSTOMER SERVICE DEPARTMENT
Article 7. The Service aims to handle and resolve complaints and claims submitted by the clients of the Company’s clients, free of charge, related to their legally recognized interests and rights, whether arising from contracts, transparency and customer protection regulations, or good financial practices and customs.
For the purposes set forth in this Regulation, complaints shall be considered those related to the operation of financial services provided to clients of the Company’s clients and submitted due to delays, lack of attention, or any other type of action observed in their operation. The only claims that will be considered are those submitted by clients who intend to obtain the restitution of their interest or right, and who present specific facts related to actions or omissions of the Company that entail damage to their interests or rights due to breach of contracts, transparency and customer protection regulations or good financial practices and starndards.
Article 8. Every client of the Company shall have the right to submit to the Service any complaint or claim that they consider appropriate, in accordance with the matters and rules established in this Regulation.
Article 9. In the exercise of its role, the Service shall:
- Handle and resolve complaints and claims submitted by clients of the Company in relation to the cases provided for in Article 7 of this Regulation.
- Submit reports, recommendations, and proposals to the management of the Company on all aspects falling under its competence, which, in its opinion, may result in an improvement of the good relationships and mutual trust that should exist between the Company and its clients.
CHAPTER IV
ON THE OBLIGATIONS OF THE COMPANY AND ITS DEPARTMENTS WITH CUSTOMER SERVICE AND INFORMATION OBLIGATIONS
Article 10. The Company shall adopt whatever measures are necessary for the better performance of its functions by the Service’s role, ensuring, in particular, the absolute independence of its actions. In particular, it is the responsibility of the Company to assist it in everything that implies an improvement in the correct and effective performance of its functions.
Article 11. All areas, including the managers and employees of the Company, have the duty to provide the Service with the information requested in relation to the services provided by them, which may be the subject matter of a complaint or claim by clients, when they relate to matters within their competence.
Article 12. The Company has the duty to provide information to its clients, making the following information available on its website:
- The existence of the Service, with an indication of its postal and electronic address.
- The obligation to inform the Client whether their complaint is admissible or not within a period of ten business days from the receipt of the complaint.
- The obligation of the Service to attend to and resolve complaints and claims submitted, within a period of one (1) month from their submission to the Service.
- References to the Complaints Service of the CNMV, specifying its postal and electronic address, and the need to exhaust the Service route in order to be able to make complaints and claims before it. The CNMV will reject the complaint if the consumer has not previously contacted the Company to try to resolve the matter or if they cannot prove that they have attempted to communicate with the Company. In any case, the complaint will be accepted if more than one (1) month has elapsed since the submission of the complaint to the Company.
- The existence of this Regulation.
- References to the transparency and customer protection regulations for financial services.
TITLE II
COMPLAINTS AND CLAIMS AND THEIR PROCEDURE
CHAPTER I
PURPOSE, FORM, REQUIREMENTS, AND DEADLINE FOR THE SUBMISSION OF COMPLAINTS AND CLAIMS
Article 13. Complaints and claims must be based on financial operations or services rendered by the Company in relation to which the client believes that they have been treated in a way that is contrary to good practices and standards of the financial sector, and which affects their legally recognized interests and rights, whether they arise from contracts, client protection, and transparency regulations, or good financial practices and standards.
Article 14. The following are excluded from the Service’s competence:
Complaints and claims made by clients after a period of two (2) years from the date on which the client became aware of the facts giving rise to the claim.
Complaints and claims relating to labour relations between the Company and its employees, and other financial entities, as such, as well as those relating to corporate relations.
Complaints and claims concerning the Company’s discretion in carrying out any operation or service, as well as its agreements and conditions, except where the content of the complaint or claim relates to the existence of delay or negligence in decision-making by the Company.
Complaints and claims that are subject to or have been resolved by a judicial or arbitral decision or by a report from the CNMV’s Complaints Service.
Complaints and claims aimed at intentionally preventing, hindering, or delaying the exercise of any right of the Company against its clients.
Article 15. The submission and processing of complaints and claims shall be free of charge, and no payment shall be requested from the client for this purpose.
Article 16. Complaints and claims may be submitted in person or through duly accredited representation, on paper or by electronic (email) or telematic means, provided that these allow for reading, printing, and storage of documents and comply with the requirements provided for in Law 59/2003 of 19 December on electronic signatures.
The procedure is initiated by the submission of the Model Claim Form included in Annex I of this Regulation.
The complaint or claim shall be accompanied by documentary evidence in the possession of the client on which it is based. The complaint or claim must be made in writing by means of the form in Annex I and must refer to specific operations.
The complaint or claim may be submitted to the email address that the Service has enabled for this purpose, as indicated in Annex I.
CHAPTER II
PROCEDURE
Article 17. Once a complaint or claim has been received by the Service, in the terms established in this Regulation, within ten (10) business days following its submission to the email address enabled by the Service for this purpose, the CSO shall:
Send the Client an acknowledgement of receipt of the complaint or claim, which shall include the following:
Identity and contact details, including email address and telephone number, of the person to whom the plaintiff may direct any inquiries related to their complaint or the department to which they should be directed;
• The deadline for notifying the plaintiff of the decision made, may not exceed one (1) month.
Rule on the admissibility of the complaint or claim, the decision of which shall be immediately notified to the client, acknowledging receipt of its submission at the same time and recording the date of submission of the complaint or claim for the purposes of computing the maximum one (1) month period to resolve the case, if applicable. The period shall begin from the submission to the email address.
In exceptional situations where a decision on a complaint cannot be made within the aforementioned one (1) month period, the plaintiff shall be informed of the reasons for the delay and the date of such decision shall be specified.
Regardless of the above, complaints or claims shall not be processed in the following cases:
When essential data for processing is omitted and is not rectifiable, including cases where the reason for the complaint or claim is not specified.
When resources or actions different from complaints or claims are intended to be processed, whose knowledge is the responsibility of administrative, arbitral, or judicial bodies, or when they are pending resolution or litigation, or when the matter has already been resolved in those instances.
When the facts, reasons, and request underlying the issues raised in the complaint or claim do not relate to specific transactions or do not comply with the requirements established in section 2 of Article 2 of Order ECO/734/2004 expressed in Article 13 of this Regulation.
When complaints or claims regarding previously resolved matters are filed by the same client in relation to the same facts.
When the two (2) year period for filing complaints or claims established in this Regulation has elapsed, counting from the date on which the client became aware of the facts that caused the complaint or claim.
When a complaint or claim is dismissed due to any of the aforementioned causes, the interested party shall be informed by means of a reasoned decision, with a period of ten (10) natural days being granted for the presentation of their allegations.
If the interested party has replied and, for any reason, the reasons for inadmissibility persist, the final decision adopted shall be communicated to them, indicating their right to resort to the CNMV Claims Service.
If the plaintiff’s identity is not sufficiently proven, or if the facts underlying the complaint or claim cannot be clearly established, the signatory shall be requested to amend the claim and complement the documentation submitted within a period of ten (10) natural days, with a warning that if they do not do so, the complaint or claim shall be closed without further action. This period shall not be included in the one (1) month period provided for in the first paragraph of this article.
However, if the plaintiff provides the documentation requested by the Service after the period granted in the previous paragraph, a new complaint file shall be opened, which shall be processed in accordance with the provisions of this Regulation.
The complaints or claims submitted shall be registered and numbered in chronological order of receipt. The file may be consolidated with others that are intimately related.
Article 18. Once a complaint or claim has been admitted, the Service may request from the client as well as any department, service or area of the Company, any data, clarifications, reports or evidence they deem relevant to make a decision.
In order to comply with legally established deadlines, this information must be provided as soon as possible, and within a maximum period of five (5) natural days, except for shorter periods that are legally determined in each specific case, so that the documentation allowing for the necessary decisions or allegations is available to the Service in a reasonable time.
If, in light of the complaint or claim filed with the Service, the issue that gave rise to it is satisfactorily resolved to the claimant’s satisfaction, the corresponding unit will communicate this to the Service, accompanied by the necessary documentary evidence.
Clients may withdraw their complaints or claims at any time, which will lead to the immediate termination of the procedure as far as the relationship with the interested party is concerned.
In cases of acquiescence by the Company or withdrawal by the client, the claim will be filed without further proceedings.
CHAPTER III
CLOSURE OF THE PROCEDURE AND NOTIFICATION OF THE RESOLUTION AND ITS EFFECTS
Article 19. The procedure must be closed by means of a resolution within a maximum period of one (1) month from the date of submission of the complaint or claim to the email address designated by the Service for this purpose.
The resolution, which shall always be motivated, may recognize economic rights in favor of the client and shall contain clear conclusions on the request made in each complaint or claim, based on the contractual clauses, transparency, and customer protection rules applicable, as well as good financial practices and usages. If the decision departs from the criteria stated in previous similar procedures, the reasons justifying this departure must be provided.
Likewise, the resolution may contain exhortations or proposals addressed to the parties, aimed at achieving an equitable solution for both of them and maintaining mutual trust between them.
The resolution shall be notified to the interested parties in writing or by electronic, computer, or telematic means, provided that these means allow for reading, printing, and storage of the documents, and comply with the requirements established in Law 59/2003, of December 19, on electronic signature, according to the express designation of the client and, in the absence of such indication, through the same means by which the complaint or claim was submitted.
The resolution rejecting the complaint or claim filed shall indicate the client’s right to appeal it before the CNMV Complaints Service.
Once the period of one (1) month has elapsed without a resolution being issued, the client may, in any case, resort to the CNMV Complaints Service.
In accordance with the above, in each case, the Company shall indicate the right to appeal to the CNMV Complaints Service. When the interested party submits a complaint to the CNMV and it receives all the documentation with the relevant information in relation to it, after any necessary corrections, it shall immediately notify the parties, by any means that allows for proof of receipt, of the date on which this complete receipt took place. In any case, the consumer may not file the complaint with the CNMV more than one (1) year after filing it with the Company.
Article 20. The resolution that upholds the complaint or claim, in favor of the client, shall be binding on the Companya. This binding effect shall not prevent full judicial protection, recourse to other dispute resolution mechanisms, or administrative protection.
CHAPTER IV
INCOMPATIBILITY OF SIMULTANEOUS ACTIONS AND INTERRUPTION OF PRESCRIPTION PERIOD
Article 21. Complaints or claims submitted to the Service will be incompatible with the simultaneous exercise of any other claims related to the same issue. For this purpose, the client must refrain from initiating any action through another channel until a resolution is reached by the Service or until one (1) month has elapsed since the submission of the complaint, and the Service has not yet resolved it. In the event of non-compliance with this requirement, the proceedings will be archived without further action.
When the Service becomes aware of the simultaneous processing of a complaint or claim and an administrative, arbitral, or judicial procedure on the same matter, or before the CNMV Claims Service.
Article 22. The submission of a claim to the Service implies acceptance of this Regulation and will have interruptive effects on the prescription of actions that extrajudicial claims recognize under Article 1973 of the Civil Code.
TITLE III
RELATIONSHIP WITH THE CNMV CLAIMS SERVICE AND ANNUAL REPORT
CHAPTER I
RELATIONSHIP WITH THE CNMV CLAIMS SERVICE
Article 23. The Company will attend, through the CSO, to any requests that the CNMV Claims Service may make in the exercise of its functions, within the deadlines determined in accordance with the provisions of Law 7/2017, of November 2, which incorporates into Spanish law Directive 2013/11/EU of the European Parliament and of the Council of May 21, 2013, on alternative dispute resolution for consumer disputes, or any other applicable regulations.
CHAPTER II
ANNUAL REPORT
Article 24. Within the first quarter of each year, the Service will submit to the Company’s governing body an explanatory report on the development of its function during the preceding year, which must contain, at a minimum, the following content:
Statistical summary of the complaints and claims handled, with information on their number, admission for processing and reasons for rejection, issues, and questions raised in the complaints and claims, and amounts and sums affected.
Summary of the decisions made, indicating whether they were favorable or unfavorable to the claimant.
General criteria contained in the resolutions.
Recommendations or suggestions arising from its experience, aimed at achieving the purposes underlying its action more effectively.
At least a summary of the explanatory report will be integrated into the Company’s annual report.
FINAL PROVISIONS
First. The regulation of the Service may be amended by agreement of the Company’s governing body, but mandates relating to the Service that are the result of legal provisions or supervisory or regulatory authority will be immediately applicable without the need to modify the Regulation, in which case they will enter into force when appropriate according to such provisions.
Second. This Regulation and its future amendments will enter into force from the moment they are verified by the CNMV and approved by the Company’s governing body.
Third. The Company’s governing body is authorized to introduce any modifications to this Regulation that may be suggested by the CNMV.
Fourth. For the purposes of Article 16 of this Regulation, the Service’s address is indicated in Annex I to this Regulation.
ANNEX I
CUSTOMER SERVICE ADDRESS
1.- Postal address to which written complaints or claims should be addressed:
Flobers Crowdfunding Spain PFP
Customer Service Departmet
Calle Alameda 22. 28014 Madrid
2.- Template for submitting a claim.
3.- Email address to which complaints and claims against the Company can be directed through this means: atencionalcliente@flobers.com