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- There are two ways to file a complaint with IIROC. Call our Info/Complaint Line, 1 877 442-4322, for inquiries or to have a Customer Complaint Form mailed to you Complete a Customer Online Complaint Form www.iiroc.ca
www.bmoinvestorline.com/Images/IIROC_E_V4.pdf
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Complaint Handling Process. Whenever you need to talk to us, we’ll be here to help. A version of this brochure is available online at bmo.com. You come first in everything we do. If you have a complaint, we encourage you to let us know and give us the opportunity to resolve the issue.
- Is The Investment Firm Regulated by Iiroc?
- Ombudsmen—Independent Or Not
- Different Track For Insurance Products
- Need Legal Advice?
If the dealer is a member of the Investment Industry Regulatory Organization of Canada, you can also utilize their binding arbitration option. For several reasons, this alternative is seldom used by retail investors primarily because it involves legal expenses. The compensation limit is $500,000. Sign up for our free investing newsletter » The secu...
Another alternative the bank-owned dealers have introduced is the idea of an internal bank “ombudsman”. These are not really ombudsman in that they are not regulated, their loss-calculation processes are not disclosed, they are not subject to independent review and, of course, since they are related to the dealer, they are not independent. How to m...
OBSI, while independent and overseen by the Canadian Securities regulators, has a few wrinkles too. A few years ago the mandate for OBSI to investigate a complaint involving an investment account that involves an insurance product like a segregated fund was removed. The complaint must be split, with the insurance product component going to another ...
You may want to consider consulting with a lawyer to receive advice on your rights and options. Legal advice can be costly and may not be necessary in most cases. The FAIR Canada, Small Investor Protection Association and Kenmar Associateswebsites contain useful information and guides concerning complaints Of the multiple and convoluted options ret...
Step 1: speaking to a representative. Ask a representative of your financial institution to assist you with your complaint. This can be someone from its branch, its call centre or its online chat function. Make sure you have all the complaint details with you when you speak to the representative.
Find out how to file a complaint with the Canadian Investment Regulatory Organization. The Ombudsman for Banking Services and Investments (OSBI) is a national, trusted, independent dispute-resolution service for consumers.
Here are some tips on doing this: Contact your advisor directly to request a meeting. Write down your concerns prior to meeting with your advisor. Share your concerns during the meeting (either verbally or in writing). Write down your advisor’s responses, including any action to be taken.
Please review the following Frequently Asked Questions and contact your Advisor if you would like additional information. Please note that we will refer to our new name of BMO Investment Services throughout the remainder of this document.
Acknowledge your complaint within 5 business days. Provide their final decision within 90 calendar days, along with: A summary of your complaint; The results of their investigation; An explanation of their final decision, and. Options for seeking compensation available to you, if you are not satisfied with the firm’s response.
