What should I do if I have a complaint against my broker?
If you have a complaint against your broker, talk to your broker about
it as soon as possible. If this does not resolve the matter, send
a written complaint to the firm that employs the broker. Request a meeting
with the branch manager or compliance officer of the firm to discuss your
concerns.
If you have a complaint against a
member of the Investment Dealers Association (IDA) you have two
options for seeking a resolution. First, you may contact the
Ombudsman for Banking Services and Investments (OBSI) for a free,
independent and impartial dispute resolution service. OBSI may
conduct independent investigations into client complaints and IDA
Member firms are required to fully cooperate. OBSI's
recommendations for resolution may include compensation, and any
that are not accepted by firms will be published. For more
information about OBSI, please visit http://www.ida.ca/Investors/Ombudservice_en.asp
Clients may also access the IDA's
arbitration program to have their dispute heard by an independent,
impartial arbitrator. This independent program is cheaper and
faster than pursuing a case through the civil court system, and the
decision is binding. For more information on arbitration,
please visit http://www.ida.ca/Investors/Arbitration_en.asp
If the matter still remains unresolved or if you have a complaint that
is not against a broker, you will need to file a written complaint with
the Securities Division of the Financial Services Commission ("SFSC")
How do I make a complaint to the SFSC?
Provide a description of your problem, when it happened and the names
of those involved. Also give us your name, address and telephone
number. Send this information to us by:
1. Fax to (306) 787-5899;
2. Telephone to (306) 787-5645;
3. E-mail to complaints@sfsc.gov.sk.ca;
or
4. Mail to:
Securities Division
Financial Services Commission
6th Floor - 1919 Saskatchewan Drive
Regina, SK
S4P 3V7
We keep complaints confidential, but we must be able to contact you for
more information. Therefore, we cannot act on complaints that are made
anonymously or are not in writing.
What will the SFSC do with my complaint?
Staff in the Securities Division's enforcement branch will review your complaint to
determine whether there has been a breach of Saskatchewan securities laws.
SFSC staff will investigate the alleged misconduct and may recommend that
the Commission impose administrative sanctions. The staff may refer some
complaints to other agencies where appropriate.
We will advise you of the final outcome of our investigation into your
complaint. However, it may take several months, and perhaps longer, to
complete the review and investigation.
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