Complaint Policy and Procedure for Crypto and Fintech Companies

In the fast-evolving world of crypto and fintech, customer trust and regulatory compliance go hand in hand. A transparent, well-structured Complaint Policy and Procedure is not only a legal requirement under MiCA and ESMA guidelines, but also a crucial element of sound corporate governance and client confidence.

At AMS, we assist crypto and fintech companies in developing and implementing complaint-handling frameworks that meet the highest regulatory and ethical standards.

1. Why a Complaint Policy Matters

Effective complaint management is a hallmark of a mature compliance culture. For crypto and fintech businesses, it ensures:

• Regulatory alignment with MiCA, ESMA RTS (Regulatory Technical Standards), and Czech law;
• Transparency and fairness in client interactions;
• Early detection of operational or reputational risks;
• Improved customer experience and retention.

A robust complaint-handling framework also demonstrates to regulators such as the ČNB (Czech National Bank) or the FAU ČR that the company has effective internal controls and compliance oversight.

2. Complaint vs. Claim: Understanding the Difference

Both complaints and claims must be handled fairly, promptly, and free of charge — a principle central to MiCA-compliant governance.

3. Key Elements of an Effective Complaint Procedure

An optimal complaint policy for crypto and fintech companies should include:

1. Clear scope and accessibility — Clients can submit complaints via multiple channels (email, online form, postal mail) in English, Czech, or other operational languages.
2. Acknowledgement and response deadlines — Confirm receipt within 5 business days and issue a final response within 30 days.
3. Dedicated responsible officer — A Compliance, Complaint or AML Officer should manage the process, ensuring impartiality and consistency.
4. Comprehensive record-keeping — Maintain secure digital registers tracking the date, nature, and resolution of each case.
5. Root-cause analysis — Regularly review complaints to identify recurring issues and implement corrective measures.
6. Right to escalate — Clients must be informed of their right to approach the Czech National Bank, the Financial Arbiter, or a competent court if dissatisfied.

4. Regulatory Context under MiCA and ESMA

The Markets in Crypto-Assets Regulation (MiCA) and corresponding RTS (Article 71 § 5) set out clear expectations for complaint handling among crypto-asset service providers (CASPs).
These include:

• Standardized complaint forms and publication of procedures on the company’s website;
• Transparent internal processes for receiving, investigating, and resolving complaints;
• Documented timeframes and communication standards;
• Regular internal reviews by the compliance function.

For fintech firms operating under Czech jurisdiction, these requirements are further supported by Act No. 634/1992 Coll. on Consumer Protection and Act No. 89/2012 Coll. (Civil Code).

5. Internal Oversight and Governance

An effective complaint policy is not just a front-end process — it’s part of your company’s governance architecture.
Key best practices include:

• Assigning responsibility to a Compliance, Complaint & AML Officer;
• Ensuring management oversight and availability of adequate resources;
• Performing periodic reviews of complaint data and trends;
• Conducting annual policy updates or immediate revisions following new MiCA or ESMA guidance.

Such proactive oversight helps mitigate compliance risks and strengthens the company’s overall internal control environment.

6. Complaint-Handling Workflow (Simplified)

Step 1: Complaint submission
→ via email, web form, or postal address.

Step 2: Acknowledgement within 5 days
→ Include contact of responsible officer and expected timeline.

Step 3: Investigation and communication
→ Collect all relevant facts, request missing data, maintain neutrality.

Step 4: Resolution within 30 days
→ Provide a clear, reasoned decision and corrective action if applicable.

Step 5: Escalation and review
→ If unresolved, refer to ČNB, Financial Arbiter, or court as appropriate.

7. Building a Culture of Transparency

Complaint handling is not merely about resolving individual issues; instead, it is about learning from feedback and continuously improving overall service quality. Moreover, a well-implemented system not only reduces reputational risks but also builds the long-term credibility of your brand in the highly regulated crypto and fintech sectors.

8. How AMS Can Help

At AMS, we design and implement tailor-made Complaint Policies and Procedures fully compliant with MiCA, ESMA, and FAU ČR expectations.

Our team of compliance professionals helps you:

• Draft complaint and claim procedures aligned with EU regulatory standards;
• Establish internal workflows and registers;
• Prepare for supervisory audits or license applications.

Need a Complaints Policy for your crypto or fintech company?

Let AMS help you design a framework that meets regulatory standards and strengthens client trust.