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Preconditions for becoming involved

Lack of jurisdiction
Proceedings conducted before the Conciliation Board

pdf Declaration of Authorisation

Preconditions for becoming involved

Which preconditions need to be fulfilled before the Conciliation Board can become involved?
  • The complaint is directed against a bank, an investment or asset management company or a payment service provider.
  • The customer should first submit his complaint to the institute and demand a written reply.

Lack of jurisdiction

With respect to which cases is the Conciliation Board unable to become involved?
  • To clarify questions relating to the general business and tariff policy of the institute
  • To clarify abstract legal and business questions
  • If another authority is already active in this matter, or if a ruling has already been made.

Proceedings conducted before the Conciliation Board

The customer should first submit his complaint to the institute, and should demand a written reply. If this reply is unsatisfactory, he can turn to the Conciliation Board orally or in writing. Simple enquiries will be dealt with orally by the Conciliation Board. If complex issues are involved, the Conciliation Board may request further documents from the customer, and can also demand that the institute makes an additional statement. It may also be the case that the high complexity of a specific case renders this unsuitable for the attention of the Conciliation Board, or that the Conciliation Board calls upon the customer to take the matter directly to the ordinary courts of law for a different reason.

In order to simplify and speed up the conciliation proceedings, the customer should present the facts of the matter in clear and comprehensible terms, and should describe precisely what his claims are.

The Conciliation Board has the authority to demand that the institute provides all the information required to assess the matter in question, and also has the right to inspect files. This is subject to the corresponding authorisation of the customer, freeing the institute from its statutory duty of professional confidentiality vis-à-vis the Conciliation Board ( Declaration of Authorisation).

Once the Conciliation Board has obtained a full picture of the facts of the matter which have given rise to the complaint, he submits a proposed solution to the parties. The parties are not bound by this proposed solution. Both the customer as well as the institutes are entitled to take further legal steps.