Complaints Handling Procedure

1. Spread Bets

As a Financial Conduct Authority authorised and regulated firm, Sporting Index Limited is required to comply with the Financial Conduct Authority's rules for the handling of complaints relating to spread bets. This section summarises our procedures for handling such complaints.

(a) Eligible Complainants

Any applicants who have successfully opened an account in accordance with Sporting Index's procedures or past clients, where the complaint arises out of matters relevant to his/her having been a customer of Sporting Index.

(b) Appropriate Complaints

A formal complaint, received by email, telephone, live chat, fax or letter, about an aspect of the Sporting Index's service either offered or withheld. For clarification, day-to-day enquiries, for example about a make-up price or deal query, are excluded.

(c) Investigation of Complaints

Complaints will be handled or reviewed by staff of sufficient experience, competence and authority. Any complaint which has not been resolved satisfactorily by Sporting Index's Customer Services Team will, at the time of acknowledgement to the client, be referred to Sporting Index's Compliance Department.

(d) Exemptions to These Procedures

If:

(i) The complaint does not involve an allegation that the complainant has suffered, or may suffer, material financial loss, stress or inconvenience; or

(ii) The complaint has been resolved within three working days of having been initially received (the definition of business day for this purpose is between the hours of 9am and 5pm Monday to Friday); or

(iii) The complaint does not relate to an activity of the firm that comes under the Financial Ombudsman Service then the procedures summarised in this section will not apply (although in relation to fixed-odds bets see the relevant section below).

(e) Time Limits

A complaint will be acknowledged within five business days and include the name and job title of the relevant contact point together with summarised details of these internal complaint handling procedures. Within four weeks of receiving a complaint, the complainant will be sent:

EITHER

a final response which:

(i) accepts the complaint and, where appropriate, offers redress (financial or otherwise), or

(ii) offers redress without accepting the complaint, or

(iii) rejects the complaint and gives reasons for doing so.

OR

a holding response, which explains why the firm is not yet in a position to resolve the complaint. This will give an indication of when further contact will be made which must, at the very latest, be within eight weeks of receipt of the complaint.

Within eight weeks of the receipt of a complaint, or when the complainant is sent a final response, the person handling the complaint will: (i) inform the complainant that he may refer the matter to the Financial Ombudsman Service ('FOS') within 6 months, and (ii) include an explanatory leaflet about the FOS.

(f) Offers of Redress

Where a complainant has suffered a material financial loss and it is decided that redress is appropriate, the aim will be to provide the complainant with fair compensation for any acts or omissions where Sporting Index accepts responsibility.

2. Fixed-odds (including Binary) Bets

Any complaint relating to fixed-odds bets (including binary bets) offered by Sporting Index may be escalated to the Independent Betting Adjudication Service (IBAS) for arbitration in the event that Sporting Index is unable to resolve the complaint to the satisfaction of the complainant.

Sections 1 (a) to 1 (d) as above remain applicable to complaints concerning fixed-odds bets.

Within four weeks of receiving a complaint, the complainant will receive a final response which:

(i) accepts the complaint and, where appropriate, offers redress (financial or otherwise), or

(ii) offers redress without accepting the complaint, or

(iii) rejects the complaint and gives reasons for doing so.

If outcome (iii) is reached, Sporting Index will inform the complainant that they may escalate the issue to IBAS should they so wish, and provide them with a link to IBAS's online Adjudication Form as well as a unique reference number which should be used when completing this online form.