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Making A Complaint



How IIROC protects you, the investor

  • sets high regulatory and investment industry standards
  • oversees Canadian stock market activity 
  • investigates and disciplines misconduct by firms or advisors

Learn more about IIROC
and our work with other regulators

 

​IIROC has a dedicated team of Complaints & Inquiries Specialists that handles all incoming public investor complaints and inquiries. Located across Canada, the team answers general investment-related rule questions and takes in regulatory complaints involving IIROC-regulated firms and markets as well as:

  • ​fielding trading halt and other trading-related inquiries

  • ​providing information about IIROC’s regulatory role

  • ​helping investors navigate through the complaint process

  • ​redirecting investors to other regulators or firms

  • ​providing compensation information to investors that deal with IIROC-regulated investment dealers

  • ​providing information about various investor tools and resources

If you have questions or concerns about potential rule infractions by an IIROC-regulated financial advisor or investment firm, or concerns with trading on an IIROC-regulated marketplace, we want to hear from you. Our role in protecting investors is to investigate complaints of regulatory violations and to impose penalties on those who are found guilty of such violations. IIROC is committed to thoroughly assessing all regulatory matters brought to our attention and will take appropriate regulatory and disciplinary action against those under our jurisdiction who fail to meet their regulatory obligations.

We assess all complaints to determine whether they fall under IIROC's jurisdiction. If the matter is not for IIROC, we will direct you to the appropriate regulator or resource. If the matter falls under our jurisdiction, we will explain the complaint process, IIROC's role and your compensation options, if applicable. We then send your complaint to IIROC's Assessment unit where they will assess the matter to determine what, if any, action IIROC will take. Learn more about how our enforcement process works and how we review and analyze equity trading.

 


 

IIROC brochures for investors

 

How IIROC Protects Investors brochure

Download
How IIROC
Protects Investors
 
(PDF, 8 pages, 1.5MB)

Opening Your Retail Account brochure

Download
Opening Your
Retail Account
 
(PDF, 16 pages, 288 kB)

 


 

There are three ways to contact us:

Call us

Use our toll-free number
1-877-442-4322. Choose your language and then press 2 for marketplace-related trading queries or 1 for all other queries. IIROC records all calls to and from our Complaints & Inquiries (C&I) telephone lines.

Note: If you reach our voicemail, please leave a message. We check for messages regularly and return calls promptly.

 

Email us

For general inquiries or concerns with an IIROC-regulated advisor/firm, send an email to [email protected].

For marketplace and trading concerns, send an email to [email protected].

Please include your name, telephone number and, if applicable, the full name of your advisor/firm or trading symbol/name in the body of your message.

 

      Fill out a complaint form

Download and fill out IIROC's complaint form. Save and send your completed form to us by one of three methods:

  • secure email as an attachment

  • or toll free fax at
    1-888-497-6172         

  • or regular mail
    (postal addresses listed on the form)

 

Helpful information

  • You should complain as quickly as possible. If too much time has passed since the activity in question took place, it may be unrealistic to begin an investigation. Our C&I staff can help you decide whether to report your situation to IIROC and what your other options may be.

  • Check Dealers We Regulate to ensure you are dealing with an IIROC-regulated firm. If the individual and their firm are regulated by another regulatory authority in Canada, you will also find helpful links on our website or go directly to the Canadian Securities Administrators.

  • Check Equity Marketplaces We Regulate for a list of IIROC-regulated marketplaces.

  • Run an IIROC AdvisorReport to check your IIROC-regulated advisor's background information, education, qualifications and any disciplinary history. If your advisor's name does not appear on AdvisorReport, you can also check our Search Disciplinary Cases tool for disciplinary actions against advisors even if they no longer work for an IIROC-regulated firm. IIROC's Unpaid Fines Report identifies regulated individuals who have not paid the full amount of a fine, disgorgement, and/or costs order imposed as a result of enforcement proceedings before an IIROC Hearing Panel.

  • You don't have to prove your case in order to report an issue - we prefer to hear from you in your own words.  

  • Be ready to provide as many details as possible, including:

    • Your name and contact information

    • Name(s) and contact information of the individuals or firms mentioned in your report

    • Symbol and security name for marketplace trading concerns

    • The date (or dates) of the activity or transaction(s) that you are concerned about

    • A detailed description of what you are concerned about and why

    • Relevant documentation – copies of forms, correspondence and notes of meetings or discussions, for example

  • Not all complaints submitted to IIROC will result in a formal investigation, nor do all investigations result in formal discipline. A decision by IIROC to close an investigation may be due to factors unrelated to the merits of the complaint, such as jurisdictional limits or other enforcement activity. This decision has no bearing on an investor's options for pursuing compensation.

  • IIROC does not review customer service complaints, such as late statements or poor service. If you have a service complaint, contact your firm directly.

  • IIROC does not provide financial, investment or legal advice.

  • IIROC does not provide compensation or dispute resolution services. IIROC requires firms to handle investor complaints to prescribed high standards and to take part in dispute resolution when requested by a client. In most cases, you must first attempt to resolve the issue directly with the firm. There are time limits that apply to the various compensation options, so you should act quickly.

  • Account losses are not necessarily an indication that your advisor has engaged in misconduct. Most investments involve some degree of risk and there is no guarantee that your investments will always be profitable. When you complain to IIROC, we will review your complaint to determine whether our rules have been broken.

  • If we decide to proceed with a disciplinary action, we may need your help. Without it, we may be unable to prove the violation occurred and to proceed with disciplinary action.

  • Even if you have signed a confidentiality agreement to settle your complaint with your firm, you can still complain to IIROC. IIROC rules prohibit firms from preventing a client from initiating or continuing a complaint with a regulator.