PROSPERGATE CAPITAL LTD, is a company registered under the laws of the Republic of Cyprus, with registration number C369583. It is a regulated Cyprus Investment Firm (‘CIF’) by the Cyprus Securities and Exchange Commission (‘CySEC’) under license number 361/18. The Company is also acting as the External Manager of PROSPERGATE FUND AILFNP V.C.I.C LTD under the Small Alternative Investment Fund Managers Law of 2020 (L. 81(I)/2020). 

The registered office of the Company is situated at 2 Filiou Zannetou street, 3021 Limassol Cyprus. 

For the purposes of, inter alia, this Complaints Handling Policy, the Company is operating under: 

• Directive 2014/65/EU of the European Parliament and of the Council of 15 May 2014 on Markets in financial instruments (“Market in Financial Instruments Directive” or “MiFID II”) which was implemented in Cyprus by the Investment Services and Activities and Regulated Markets Law of 2017 (Law  87(Ι)/2017). 
• The Alternative Investment Funds Law of 2018 L.124(I) of 2018 (“the AIF Law”) and the Small Alternative Investment Fund Managers Law of 2020 (L.81(I) of 2020) (“the SMALL AIFM Law”).  
• The Commission Delegated Regulation (EU) 2017/565 (Article 26) and supplementing Directive 2014/65/EU of the European Parliament and of the Council (Article 16(2)) with regard to organizational requirements and operating conditions for investment firms and defined terms for the purposes of that Directive 
• The European Securities and Markets Authority (ESMA) and the European Banking Authority (EBA) Joint Committee Guidelines and Reports on Complaints Handling.  

The Compliance Officer shall be responsible for handling Client complaints, except in the case where the complaint involves the Compliance Officer, whereby the complaint shall be handled by the Managing Director. The Client may register a complaint using any of the following options:

• Email: [email protected]
• Telephone: +357 25366551
• Fax: +357 25361615
• Postal Address: 2 Filiou Zannetou Street,
3021, Limassol, Cyprus

Upon receiving the complaint, the Company will register the Company directly to its Internal Register, giving it a unique reference number. The unique reference number must contain: – the code of the CIF regarding the Transaction Reporting System (TRS), – the year of the complaint and the number of each complaint serial number The Company will inform the complainant that he/she should use the above-mentioned reference number in all future contact with the Company, the Financial Ombudsman and/or the CySEC concerning the specific complaint.

PROSPERGATE CAPITAL LIMITED aims to provide prompt, helpful, open and informative advice in response to every approach made by its clients. The Company wants to hear the views of the clients about its performance. It recognizes that, as with all organizations, from time-to-time things can go wrong and it may not be able to provide the standard of service expected from the Company. Any Complaint submitted to the Company is viewed as an opportunity to correct erroneous procedures and/or practices and  to learn from the same.  

The Company classifies, as a complaint, a statement of any grievance by a client, involving the activities of the employees of the Company, in connection with the provision of the investment services the Company provides. Such complaint or grievance is to be composed by the client and received by the Company in writing on a specific form provided by the latter. 

The Company has appointed a Compliance Officer to efficiently handle any complaints from the Client. This is to allow the Company to resolve and apply mandatory measures to avoid any recurring issues. The company will keep all records connected to the specific complaints on the register of complaints.

Procedure for submitting a Complaint  

How to submit a complaint: To submit a complaint to the Company, the client is kindly requested to complete and submit the Complaint Form,  attached to this Policy, to the following email address [email protected]. As soon as the client successfully completes and submits his/her complaint, the Compliance Department of the Company shall handle and investigate the complaint. 

Acknowledge the receipt of the Complaint Form: The Company will acknowledge receipt of the client’s complaint within two (2) working days from the receipt of the “Complaint Form” and will provide the client with a unique reference number of such complaint; this number will be used in all complainant’s future contact with the Company, the Financial Ombudsman and/or CySEC regarding the specific complaint.   

Responsible Examining Officer: The Compliance Officer shall be responsible for handling Client complaints, except in the case where the complaint involves the Compliance Officer, whereby the complaint shall be handled by the Managing Director.  The Client may register a complaint using any of the following options: 

• Email: [email protected]
• Telephone: +357 25366551
• Fax: +357 25361651
• Postal Address: 2 Filiou Zannetou street, 3021 Limassol, Cyprus. 

Complaint Handling:  Once the Company acknowledges receipt of the Complaint Form, it will review the document carefully, investigate the circumstances around such a complaint and strive to resolve it without unnecessary delay. After a thorough investigation of the complaint is undertaken, the Company, within four (4) weeks from the date the Complaint Form was submitted, will furnish the complainant with a final or a holding response, explaining the findings. During the investigation process the Company will keep the complainant updated with the handling process. In case the examining officer of the complaint needs further clarification and/or documentation from the complainant, he/she might also contact the complainant via email or telephone. 

Simultaneously, upon receiving the Complaint Form, the examining officer will register the complaint directly to its Internal Register, giving it a unique reference number. The unique reference number must contain the code of the CIF regarding the Transaction Reporting System (TRS), the year of the complaint and the number of each complaint serial number. The Company will inform the complainant that he/she should use the above-mentioned reference number in all future contact with the Company, the Financial Ombudsman and/or the CySEC concerning the specific complaint. 

If an answer cannot be furnished to the complainant within the expected time limits, the Company will inform the latter about the causes of the delay and indicate when the Company’s investigation is likely to be completed.

In the case where a holding response is sent to the complainant, then an explanation shall be given stating the reasons why the Company has not been able to resolve the complaint; it will also set an estimated time to resolve the issue. If after eight (8) weeks from receipt of the Complaint Form, the Company is still not in a position to resolve the issue, then the Examining Officer will notify the complainant in writing stating the reasons for the delay and indicate an estimated time to resolve the issue. 

After the final response has been received by the complainant, the latter will be able to submit a written reply to the findings of the Examining Officer of the Company. If the complainant does not respond to the findings received, within eight (8) weeks from the receipt of the relevant findings, this will prima facie indicate that the complainant is satisfied with the Company’s response, justification and/or other information and/or measures set out in the findings, and the complaint will be considered as resolved. 

Submission of Complaint to the Financial Ombudsman and CySEC 

In the event that the complainant is not satisfied with the Company’s final decision and/or the complainant has not received a final decision from the Company within three (3) moths from the date of the submission of the Complaint Form, he/she may submit a complaint to the Financial Ombudsman of the Republic of Cyprus (“Ombudsman”) and seek mediation and/or claim for a financial compensation. The Ombudsman must be contacted within six (6) months of receipt of the final response from the Company, at the latest. If the  Ombudsman is not contacted within the aforementioned time frame, the Ombudsman might decline to examine the relevant complaint. 

The contact details of Financial Ombudsman are the following: 

Financial Ombudsman of the Republic of Cyprus 

Postal Address: 13 Lord Byron Avenue, 1096 Nicosia, Cyprus 

Telephone: +357 22848900 Fax: +357 22660584, +357 22660118 

E-mail: [email protected]  

Website: www.mcit.gov.cy/ccps 

A complainant can also contact CySEC and report the complaint, however it should be noted that CySEC does not have restitution powers and consequently does not investigate individual complaints.  

The right of the complainant to take legal action against the Company remains unaffected by the existence or use of any complaint procedure taken, as aforementioned.

Client Complaint Form can be downloaded here

This policy may be updated and changed from time to time in order to comply with any new legal requirements and/or amendments. Should such changes commence, the updated Complaints Handling Policy will be published on our website.

If you would like to contact us with any queries or comments, please send an email to [email protected]

Prospergate Capital Ltd is a Cyprus Investment Firm (CIF) that is authorized by the Cyprus Securities and Exchange Commission (CySEC) (License number 361/18), with the license to perform portfolio management services. The company externally manages, on a discretionary basis, client funds that are located in global financial institutions pursuant to a pre-defined investment strategy. Since the risk of investing in certain financial instruments is generally high and the market value of such financial instruments may be exposed to varying factors, such as a turbulent economic and political environment, fluctuations in foreign exchange rates and shifts in market sentiment, the investor takes full responsibility for the risk involved with such investments and understands and acknowledges that investment yield and or capital preservation is not guaranteed. The investor should ensure that they are fully aware of the potential risks connected with Portfolio Management services and with their chosen investment strategy. The investor should be aware of the fact that some investment strategies may involve a higher degree of risk compared to other strategies and investments within this framework which may result in the loss of all or part of the initial investment. The investor should also understand and acknowledge that past performance does not guarantee future returns. Past performance should not be taken as an indication or guarantee of future performance.