Complaints handling description in UBS Europe SE, Luxembourg Branch

Potential clients and clients who are satisfied are prerequisite to the long-term and sustained success of UBS Europe SE, Luxembourg Branch ("UBS"). However, despite our commitment and efforts to provide you with the best possible services, it may occur that you are not satisfied with our services or may encounter a specific problem.

UBS is committed to promptly and thoroughly investigate any dissatisfaction from your side. The procedure detailed below will allow us to investigate any dissatisfaction from your side in line with the Luxembourg legal requirements. Management oversight of complaints is ensured through regular internal review and reporting.

A complaint can be any written, verbal or electronic communication from a (potential) client or investor to express dissatisfaction and can be submitted free of charge.

If you wish to express your dissatisfaction/complaint, do not hesitate to contact your Client Advisor, Client Relationship Manager or any other direct contact within UBS. When contacting UBS with a complaint, please include the following details:

• Your full name
• Your role on the account (e.g. account holder or representative of a client, lawyer etc.)
• Your contact details
• Involved account number(s)
• Information pertaining the complaint (detailed description of the facts underlying the complaint)
• Relevant document(s) and/or correspondence
• Any other detail(s) of relevance regarding your complaint.

If we are not able to provide you with an answer within a short time, an acknowledgement of your complaint will be issued, by letter or by any other durable medium (such as e-mail), within 10 (ten) working days from the date of receipt and we will inform you of an indicative timeline by when a response or resolution will be provided.

We are committed to provide you with an answer to your complaint within 1 (one) month upon receipt of your complaint, by letter or any other durable medium. If your complaint relates to payments services, specifically the rights and duties arising under Titles III and IV of the Law of 10 November 2009 on payment services, as amended from time to time, we are committed to provide an answer within 15 (fifteen) working days upon the date of receipt. In case your complaint relates to the confirmation of OTC derivatives, we are committed to provide a response within 5 (five) Luxembourg business days.

In exceptional situations, where the answer to a complaint cannot be provided within the said timeframe for reasons beyond our control, we will send you a holding reply indicating the reasons for the delay and informing you of the alternative date at which the answer is likely to be provided. In any event, the deadline for receiving a final response shall not exceed 35 (thirty-five) working days.

Should you feel that you did not receive a satisfactory answer, you may appeal directly to the Branch Management of UBS Europe SE, Luxembourg Branch, namely to the branch manager in charge of complaints who is registered towards the CSSF:

Mr. Ralf Schröter
Member of the Branch Management of UBS Europe SE, Luxembourg Branch
33A avenue J.F. Kennedy
P.O. Box 2
L-2010 Luxembourg

Definition and competent authority

As per EU Directive 2016/97, “’Insurance distribution’ means the activities of advising on, proposing, or carrying out other work preparatory to the conclusion of contracts of insurance, of concluding such contracts, or of assisting in the administration and performance of such contracts, in particular in the event of a claim, including the provision of information concerning one or more insurance contracts in accordance with criteria selected by customers through a website or other media and the compilation of an insurance product ranking list, including price and product comparison, or a discount on the price of an insurance contract, when the customer is able to directly or indirectly conclude an insurance contract using a website or other media.”

In contrast to section ‎1 (Complaints related to banking activities), complaints related to insurance distribution activities fall under the following competent authority for insurance mediation topics:

Industrie- und Handelskammer Frankfurt am Main
Börsenplatz 4
D-60313 Frankfurt am Main
info@frankfurt-main.ihk.de

Out-of-court resolution of IDA related complaints

In accordance with the Insurance Contract Act 2008 §214, the client may refer to the “Versicherungsombudsmann e.V.” (the Insurance Ombudsman Association, further referred to as the “Ombudsman”), which is a state-approved consumer arbitration board based in Berlin, Germany.

Versicherungsombudsmann e.V.
Postfach 08 06 32
D-10006 Berlin
Phone: 0800 369 6000
www.versicherungsombudsmann.de

The purpose of the association is the promotion of out-of-court dispute settlement with consumers, especially regarding insurance contracts or the procurement of those.

The proceedings are ruled by the German consumer dispute settlement act, whereas the code of procedure for complaints concerning procurement of insurance contracts (VermVO) applies.

The Ombudsman should be involved as soon as possible after submitting your claim to UBS acting as insurance agent. The language of the Ombudsman is German. You have to make sure that you submit your concerns to the Ombudsman correctly and completely. You may at any time withdraw your claim from the Ombudsman.

The Ombudsman is only concerned with claims, if:

• They concern procurement of an insurance contract;
• The complainant is policy holder; and
• They concern an insurance agent or broker.

For more information regarding a submission of a request for out-of-court complaint resolution with the Ombudsman (information and form), please consult the following links:

• Information about the organisation of the Ombudsman association, the arbitration board and proceedings and how to submit a complaint in German and in English;
• Online submission of complaints (in German);
• English form for the submission of complaints.

As an alternative to contacting the Ombudsman, you may contact the corresponding competent institution for out-of-court resolution of complaints in your country of residence.