Making a complaint

You may want to make a complaint if:

  • you rarely hear from your advisor.
  • your advisor’s suggestions don’t seem to match your goals.
  • your advisor makes frequent or unusual trades.
  • you feel pressured to investInvest To use money for the purpose of making more money by making an investment. Often involves risk.+ read full definition.

You may also consider making a complaint if you feel your advisor or firm has broken the rules. You should also report your complaint to your securities regulatorSecurities regulator A government agency that enforces the securities act in jurisdiction it has authority over. This act is made up of laws that establish rules for issuing and trading securities. The Ontario Securities Commission is the securities regulator for Ontario.+ read full definition.

Contact your provincial or territorial securities regulator

If you think an individual or firm has broken the rules, contact the securities regulator in your province or territory. Regulators investigate potential wrongdoing and can impose sanctions on individuals and firms that breach regulatory requirements. Your securities regulator can also help you understand your optionsOptions An investment that gives you the right to buy or sell it at a set price by a set date. The buy right is termed a “call” option, and the sell right is termed a “put” option. You buy options on a stock exchange.+ read full definition for making a complaint. Find out how to contact your securities regulator.

 

3 tips for making an effective complaint
  1. Gather your facts – Think about the problem and the result that you want. Write down the main points in the order that they occurred.
  2. Put your complaint in writing – If you have everything in writing, you can easily keep a record of events. Without this record, the complaints process may be more difficult.
  3. Document everything – Make sure you document all the steps you take to get your complaint resolved, including telephone conversations, e-mails and faxes.

The Ontario Securities CommissionOntario Securities Commission An independent Crown corporation that is responsible for regulating the capital markets in Ontario. Its mandate is to provide protection to investors from unfair, improper or fraudulent practices and to foster confidence in fair and efficient capital markets.+ read full definition has more tips on making a complaint.

Take action

If you suspect investmentInvestment An item of value you buy to get income or to grow in value.+ read full definition fraud, report it to the Ontario Securities Commission (OSC), or your provincial or territorial securities commission.

Key point

Securities regulators can help you understand your options for making a complaint.

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