Customer Service (CS)

Article 1. Scope of application

This Regulation regulates the Customer Service (hereinafter, SAC) of strategic consulting and strategic financial advice, Rubicon Finance Network, SL. (Rubicon, hereinafter referred to as “Rubicon”), due to its degree of excellence in the rendering of its services, is the maximum in equivalence (not being obliged to provide such degree of rendering and excellence since this order only applies to credit institutions, investment services companies of the primary financial market, management companies of collective investment institutions, insurance companies, pension fund management companies, insurance brokerage companies, and branches in Spain of the entities listed in the preceding paragraphs with registered office in another State.) in accordance with the provisions of Order ECO/734/2004, of March 11, 2004, on customer service departments and services and the customer ombudsman of financial institutions (published in the Official State Gazette of March 24, 2004).

Article 2. Object

The CCS is responsible for and, in accordance with the powers and procedures set forth in these Regulations, for handling and resolving complaints and claims submitted, directly or through a representative, by all individuals or legal entities, whether Spanish or foreign, who are users of the financial services provided by Rubicon.

Complaints and claims must refer to the interests and rights legally recognized in favor of customers, whether they derive from contracts, transparency and customer protection regulations or good practices and, in particular, from the principle of fairness.

Article 3. Approval and modification of the Regulations

These Customer Protection Regulations have been approved by Rubicon’s Board of Directors and submitted to the verification of legal experts on rules and regulations of the Bank of Spain/CNMV such as the firm Mansolivar. (ICJCE) Instituto de Censores Jurados de Cuentas de España]. The modifications to this document must be submitted to the approval and verification referred to in the previous paragraph.

Chapter I. Requirements and Duties

Article 4. Designation of the Holder

The Head of the SAC shall be appointed by the Rubicon Board of Directors, and shall be a person of good business and professional repute, with adequate knowledge and experience to perform his or her duties.

The designation of the person in charge shall be communicated2 to the Complaints Services of the Financial Supervisors and to the authority or authorities corresponding to their activity.

Article 5. Autonomy and means

Rubicon shall adopt the necessary measures for the arbitrariness of the CCS and the other commercial or operational services of Rubicon, so as to ensure that the CCS makes autonomous decisions concerning the scope of its activity and avoids conflicts of interest.

Rubicon shall ensure that the CCS is equipped with the human, material, technical and organizational resources necessary to carry out its functions.

Article 6. Term of office

The appointment of the Head of the SAC shall be for a term of three years, and may be renewed for equal periods of time as many times as Rubicon deems appropriate.

Article 7. Causes of incompatibility and ineligibility for the position of Incumbent.

They shall not be eligible to hold the position of SAC Holder:

(i) those who have been declared bankrupt without having been rehabilitated;

(ii) those who are being prosecuted or, in the case of proceedings referred to in Titles 2 and 3 of Book 4 of the Criminal Procedure Act, if an order to open an oral trial has been issued;

(iii) who have a criminal record for crimes of forgery, crimes against the Treasury, punishable insolvency, breach of custody of documents, violation of secrets, money laundering, embezzlement of public funds, disclosure of secrets or crimes against property; or

(iv) those who are disqualified or suspended, criminally or administratively, from holding public office or administrative or managerial positions in financial entities.

Article 8. Termination of the position of Holder

The SAC Holder shall cease to hold office upon expiration of the term for which he/she was appointed, unless the Bank agrees to his/her renewal in the manner set forth in Article 4 of these Regulations, or by reasoned resolution of the Board of Directors Rubicon in the following cases:

(i) Concurrence of any of the causes of incompatibility and ineligibility indicated above.

(ii) Supervening disability.

(iii) Waiver.

(iv) Notoriously negligent performance in the exercise of their duties.
If the position becomes vacant, and without prejudice to compliance with the resolutions adopted by the removed SAC Holder, Rubicon shall appoint a new SAC Holder within thirty days of the vacancy occurring.

Article 9. Functions

The function of the CCS is to safeguard and protect the rights and interests of Rubicon’s customers arising from its relations with them, and to ensure that such relations are conducted at all times in accordance with the principles of good faith, fairness and mutual trust. In compliance with its function, the SAC is responsible for:

(i) To hear, study and resolve any complaints and claims that customers may submit to it in connection with transactions or services, provided that their complaints refer to delays, inattention or defects in the operation of such services, and their claims refer to the claim to obtain restitution of their legally recognized interests and rights, whether arising from contracts, transparency and customer protection regulations or good financial practices and customs and, in particular, from the principle of fairness. It shall also be responsible for hearing, studying and resolving any questions that Rubicon may submit to it regarding its relations with its customers, when Rubicon deems it appropriate to do so. In both cases, it may intervene as a mediator between Customers and Rubicon or in order to reach an amicable settlement between them.

(ii) Submit, formulate and make reports, recommendations and proposals to Rubicon on all matters within its competence that, in its judgment, may promote the good relations and confidence that should exist between Rubicon and its customers.

Article 10. Excluded Subjects

In any case, they are excluded from the competence of the CCS:

(i) The relationship between Rubicon and its employees or shareholders, without prejudice to the right of either to file claims or complaints arising out of their dealings with Rubicon.

(ii) Matters relating to Rubicon’s decisions whether or not to admit a client to the investment portfolio or to enter into any other contract, transaction or service with a particular person, as well as the terms and conditions thereof. This exclusion shall not, however, affect matters relating to the lack of diligence or delay in communicating such decisions made by Rubicon to the interested party.

(iii) Those that refer to matters that are being processed or have already been resolved in judicial or arbitration proceedings or by the Claims Service of the corresponding Financial Supervisor.

(iv) Those manifestly aimed at preventing, delaying or hindering the exercise of any of Rubicon’s rights against its customers.

Article 11. Rubicon’s Obligations

Rubicon shall take all measures necessary for the best performance of its functions by the SAC and to ensure the autonomy of its decisions. In particular, it is Rubicon’s responsibility to

(i) Collaborate with the CCS in all matters that favor the better exercise of its functions and, especially, provide it with all information requested by the latter on matters within its competence and in relation to the issues submitted for its consideration.

(ii) Make available to its clients, in each and every one of its offices open to the public, as well as on its website, the following information:

The existence of the CCS, indicating its postal and e-mail address for this purpose, with precise expression of the obligation to attend to and resolve complaints and claims within the periods established in Article 18 of these Regulations from the time they are submitted to the CCS or to any other body of the Entity, including its offices open to the public.

The existence of the Complaints Services of the Financial Supervisors3 (Complaints Service of the Bank of Spain, the National Securities Market Commission and the Directorate General of Insurance and Pension Funds), specifying their postal and e-mail addresses and the need to exhaust the prior complaint procedure with the CCS in order to be able to file complaints with said Services. This Regulation. Reference to the regulations on transparency and customer protection of the services.

(iii) Receive and evaluate any complaints that may be made regarding the performance of the CCS and adopt, as the case may be, the decision referred to in section v) of article 8.1 of these Regulations.

Chapter II. Procedural Aspects

Article 12. Form of notifications and summons

The notifications and requirements that the CCS must make to the claimant shall be made in the manner expressly designated by the client and, failing that, through the same means in which the complaint or claim was filed.

Article 13. Presentation of complaints and claims: form, place and term.

1. The presentation of complaints and claims may be made, in person or by proxy, on paper or by computer, electronic or telematic means, provided that these allow the documents to be read, printed and preserved. The use of computer, electronic or telematic means must comply with the requirements set forth in Law 59/2003, of December 19, 2003, on electronic signatures.

The procedure shall be initiated by filing a written complaint or claim by any of the means indicated in the previous section, which shall state:

(i) Name, surname and domicile of the interested party and, if applicable, of the person representing him/her, duly accredited; national identity card number for natural persons and data referring to public registry for legal entities.

(ii) Grounds for the complaint, with clear specification of the issues on which a ruling is sought.

(iii) Office or offices, department or service where the facts that are the subject of the complaint or claim have occurred.

(iv) That the complainant is not aware that the subject matter of the complaint or claim is being substantiated through an administrative, arbitration or judicial proceeding.

(v) Place, date and signature. The claimant shall provide, together with the above document, the documentary evidence in his/her possession on which his/her complaint or claim is based.

Complaints and claims may be filed with the CCS at any Rubicon office, as well as at the e-mail address provided for this purpose. The submission and processing of complaints to the CCS is completely free of charge.

Article 14. Deadline for presentation

The submission of a complaint or claim by a client to the CCS must be made within 30 days from the date on which the client became aware of the facts giving rise to the complaint or claim. Complaints and claims submitted outside the period established in the preceding paragraph shall not be admitted by the CCS.

Article 15. Admission to proceedings

Once the complaint or claim has been received by the Bank, in the event that it has not been resolved in favor of the customer by the branch, service or department that is the subject of the complaint or claim, it shall be forwarded to the CCS as soon as possible. In any case, the claimant shall be informed of the competent authority to resolve the complaint or claim, acknowledging receipt thereof in writing and leaving a record of the date of submission for the purposes of calculating the time limit. Once the claim has been received, the CCS, after making such inquiries as it deems appropriate, shall decide whether or not the claim is within its competence, or if it cannot be admitted for processing.

If the CCS does not find the identity of the claimant sufficiently accredited or if the facts that are the object of the complaint or claim cannot be clearly established, the signatory shall be required to clarify the facts or complete the documentation submitted within ten calendar days, with the warning that if this is not done, the complaint or claim shall be filed without further processing, all without prejudice to the right that may correspond to the client to file a new complaint or claim in this respect under the terms established in these Regulations.

The period of time used by the claimant to clarify the facts and/or complete the documentation referred to in the previous paragraph shall not be included in the calculation of the maximum period for resolving the complaint or claim.

The CCS may only refuse to admit complaints or claims for processing in the following cases:

(i) When the complaint or claim is intended to be processed as a different resource or action whose knowledge is the competence of administrative, arbitration or judicial bodies, or the same is pending resolution or litigation or the matter has already been resolved in those instances.

(ii) When essential information for the processing is omitted that cannot be corrected, including cases in which the reason for the complaint or claim is not specified or the identity of the claimant or the alleged capacity of representation is not sufficiently accredited.

(iii) When the facts, reasons and request in which the issues object of
complaint or claim are specified do not refer to specific operations or do not comply with the requirements established in article 2.2 of Order ECO/734/2004, of March 11.

(iv) When complaints or claims are presented that reiterate other previous resolved complaints presented by the same client in relation to the same facts.

(v) When the 30-day period for the presentation of complaints or claims has elapsed.

(vi) In the case of complaints or claims excluded from its knowledge in accordance with Article 10 of these Regulations.

When the CCS becomes aware of the simultaneous processing of a complaint or claim and an administrative, arbitration or judicial proceeding on the same matter, it shall refrain from processing the former.

When the complaint or claim is deemed inadmissible for any of the aforementioned reasons, the interested party will be notified by means of a reasoned decision, giving him/her a period of ten calendar days to present his/her arguments. When the interested party has replied and the causes of inadmissibility are maintained, the final decision adopted will be communicated.

Article 16. Processing

During the processing of the file, the CCS may request, both from the claimant and from Rubicon, any data, clarifications, reports or evidence it deems necessary for the resolution of the case. In each case, the CCS may set reasonable deadlines for the completion of these requests.

Article 17. Waiver and withdrawal

If, in view of the complaint or claim, the Entity rectifies its situation with the claimant to the latter’s satisfaction, it must notify the competent body and provide documentary justification, unless the interested party expressly withdraws. In such cases, the complaint or claim shall be filed without further action.

Interested parties may withdraw their complaints and claims at any time. The withdrawal will result in the immediate termination of the procedure as far as the relationship with the interested party is concerned. However, the CCS, within the framework of its functions, may agree to continue the same in order to promote compliance with the regulations on transparency and customer protection and good financial practices and uses.

Article 18. Deadline for the resolution of files

The file must be completed within a maximum period of one month from the date on which the complaint or claim was filed. In exceptional situations, if a response cannot be provided within fifteen working days for reasons beyond the control of the CCS, the CCS will send an interim response, clearly stating the reasons for the delay in responding to the complaint and specifying the period within which the payment service user will receive the final response. In any case, the deadline for receipt of the final response shall not exceed one month.

Once the corresponding period for resolution has elapsed without a decision from the CCS, the client may resort to the Complaints Services of the Financial Supervisors.

Chapter III. Resolutions issued by the SAC and their effects.

Article 19. Resolution and notification

The resolutions issued shall always be reasoned and shall contain clear conclusions on the request raised in each complaint or claim. Said resolutions shall be based on the legal rules applicable to the case, the contractual clauses, the rules of transparency and customer protection, as well as good practices. In the event that the resolution deviates from the criteria expressed in previous similar cases, the reasons justifying the change of criterion shall be stated.

The resolution shall be notified to the claimant within a maximum period of ten calendar days from its date, expressly mentioning the right to appeal to the Complaints Service of the Financial Supervisor in the event of disagreement with the outcome of the decision.

Said notification shall be made in writing or by computer, electronic or telematic means, provided that these allow the reading, printing and conservation of the
documents and comply with the requirements established in Law 59/2003, of December 19, on electronic signature, as expressly designated by the claimant and, in the absence of such indication, through the same means in which the complaint or claim was filed.

Article 20. Effects of the resolution

The SAC’s decision is binding on Rubicon, but not on the claimant, who, if he accepts it, will not have to waive any subsequent right or recourse in defense of his interests.

Article 21. Filing and custody of files

The information related to the files and their contents processed by the CCS shall be under its power, and the latter shall be obliged to maintain secrecy regarding their contents and actions.

Article 22. Annual Report

Within the first quarter of each year, the SAC shall submit to the Executive Committee a report explaining the performance of its function during the preceding year. The Annual Report shall have the following minimum content:

(i) Statistical summary of complaints and claims handled, with information on their number, admissibility and reasons for rejection, reasons and issues raised in the complaints and claims, and amounts and amounts involved.

(ii) Summary of the decisions issued, indicating whether they are favorable or unfavorable to the claimant.

(iii) General criteria contained in the decisions.

(iv) Recommendations or suggestions derived from its experience, with a view to better achieving the purposes that inform its actions.

The Annual Report may include recommendations or suggestions aimed at facilitating better relations between Rubicon and its customers. In addition, Rubicon may decide to publish any resolutions it deems appropriate, given their general interest, while maintaining the confidentiality of the identity of the parties involved. At least a summary of the Report will be integrated into the Rubicon Annual Report.

Article 23. Relationship with the Complaints Services of Financial Supervisors

Rubicon shall respond, through the Head of the CCS or through another specifically designated person, to the requests that the Complaints Services of the Bank of Spain, the National Securities Market Commission or the Directorate General of Insurance and Pension Funds may make in the exercise of their functions, within the deadlines determined by them, in accordance with the applicable regulations.

Article 24. Inadmissibility of a complaint by the ADR entities

Pursuant to the provisions of Article 18.1 e) of Law 7/2017 of 2 November on alternative dispute resolution in consumer matters, after more than one year has elapsed since the filing of a complaint with Rubicon or the CCS, the consumer may not submit it to the competent Complaints Services.

SOLE FINAL PROVISION In all matters not provided for in these Regulations, Order ECO/734/2004, of March 11, 2004, on customer service departments and services and customer ombudsman of financial institutions, shall be applicable.