In the event of a dispute between a client and Arctica Finance, the client can send a complaint to Arctica Finance. Complaints are handled according to Arctica Finance's general operating rules for handling complaints. Complaints can be made in various ways, e.g. by e-mail (kvortun at arctica.is), by letter, by telephone or at a meeting.
Arctica Finance's policy is to ensure that complaints and other similar matters are dealt with quickly, efficiently and fairly. It includes i.a. to:
In Arctica Finance's general operating rules, it says about the handling of client complaints:
Arctica's employees must offer to speak with a client who complains, but this shall not be a condition for the receipt of a client's complaint. The client shall be made aware that he can always direct his complaint immediately to the company's chief executive officer or the compliance officer.
If the client is not satisfied with Arctica's solution, the client shall be advised that he can direct a complaint to the adjudicator according to the Icelandic act on adjudicators in the field of consumer affairs [Act no. 81/2019] or apply to the courts. A complaint can be withdrawn at any stage. A case is dropped if Arctica and the client reach an agreement on its solution. Further information about adjudicators and procedural rules can be found on the website of the Financial Supervisory Authority of the Central Bank of Iceland
.... Proper handling of personal information and the risk of conflicts of interest must be ensured with access controls.
A client can submit a dispute to the Complaints Committee regarding transactions with financial undertakings:
The Complaints Committee on Transactions with Financial Firms
Guðrúnartún 1
105 Reykjavík
Iceland
Tel.: +354 578 6500
email: fjarmal@nefndir.is
A special appeal form must be filled out and returned or sent by mail to the office of the Financial Supervisory Authority of the Central Bank of Iceland (FME) to request the committee's decision. The form can be obtained from the committee's office or from its website. More information about the committee, fees, who can contact the committee, etc. can be found on the committee's website, and on FME's website.
FME guides clients of financial undertakings in accordance with the government's obligation to guide. See more information on FME's website.
The Consumer Agency (Neytendastofa) is a government authority in the field of consumer affairs that handles the implementation of various laws in the field of consumer protection. On the Consumer Agency's website among other things information can be accessed about in which cases and in which way consumers can contact the agency if they believe that their rights have been violated. See more on the Consumer Agency's website.
Parties can submit disputes to the courts.
Attention is drawn to the Icelandic Financial Institutions' Guarantee Fund for financial companies, which operates according to Icelandic Act no. 98/1999. The aim of the law is to provide depositors and customers of financial undertakings with minimum protection against financial difficulties of financial undertakings in accordance with the provisions of the law. See the law in more detail and more information about the fund, disbursements, etc. on the fund's website.