If, despite our best efforts, you remain unsatisfied with our response or have not received an answer to your complaint within one month of receipt of your complaint, you may refer to the Luxembourg financial regulator according to the provisions of the CSSF Regulation N°16-07 relating to the out-of-court resolution of complaints.
In order to submit an out-of-court resolution of complaints to the CSSF, you must fulfill the following conditions:
- Have sent your complaint previously to the UBS Director in charge of complaints registered towards the CSSF, and
- you must have not received an answer or no satisfactory answer from the UBS Director in charge of complaints within one month from the date at which your complaint was sent.
You may file your request with the CSSF within one year after the complaint has been filled with the Director in charge of the complaint handling.
Please be informed that your request must be submitted in accordance with CSSF requirements established on the CSSF website and the applicable form.
You may not submit an out-of-court resolution of complaints to the CSSF in the following cases:
- The complaint has not been previously submitted to the relevant professional in accordance with above requirements;
- The complaint has been previously or is currently being examined by another alternative dispute resolution body, arbitrator, arbitration tribunal or a court, in Luxembourg or abroad;
- The complaint concerns the business policy of UBS;
- The complaint concerns a non-financial product or service;
- The request is unreasonable, frivolous or vexatious;
- You have not filed the request with the CSSF within one year after the complaint has been filed with UBS;
- The request handling would seriously impair the efficient functioning of the CSSF.
Once the CSSF has received a request that meets all the conditions, it will transmit a copy thereof to UBS and will ask the UBS Director in charge of complaints to take position within a period up to one month from the date at which the file was sent. The CSSF will inform you of this transmission.
Within three weeks after receipt of the complete request, the CSSF informs you and UBS:
- if it accepts to treat the request or
- if it is unable to deal with the request (providing detailed explanation of the reason thereof to the involved parties).
Once the request analysis has been completed by the CSSF, it will send to the involved parties a conclusion letter with the reasons for the position taken. Namely either:
- a conclusion letter by the CSSF that the request is partly or totally justified: asking you and UBS to contact each other to settle their dispute in view of the reasoned conclusion and to inform the CSSF of the follow up; or
- a conclusion letter by the CSSF that the positions of you and UBS are irreconcilable or unverifiable.
In any case the conclusion reached by the CSSF after the analysis of the request may be different from the order of a court applying legal provisions. Therefore, you as well as UBS are free to accept or refuse to follow them as the conclusions by the CSSF are not binding. You as well as UBS may also seek remedies through legal proceedings, in particular, if we jointly fail to reach an agreement after the CSSF issued its reasoned conclusion.
Upon proposal of solution by the CSSF, both you as complainant and UBS will have to inform the CSSF whether each party decides to accept, to refuse or to follow the solution proposed by the CSSF within the timeframe defined by the CSSF in its reasoned conclusion letter.