3723. Complaint policies and procedures

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    1. A Dealer Member’s policies and procedures must specifically address dealing effectively, fairly and expeditiously with complaints.  

    2. A Dealer Member’s policies and procedures must specifically address:

      1. procedures for a fair and thorough investigation of complaints,

      2. a process for assessing the merits of complaints,

      3. the process to be followed in determining what offer should be made to the client, where the complaint is assessed to have merit, 

      4. a description of remedial actions which may be appropriate to be taken within the firm,

      5. a procedure that will ensure that complaints are not dismissed without proper consideration of the facts of each case,

      6. a balanced approach to dealing with complaints that objectively considers the interests of the complainant, the Dealer Member, including the employees, Approved Persons or other relevant parties, 

      7. a process that ensures that the relevant employees, Approved Persons and their Supervisors are made aware of all complaints filed by their clients,

      8. procedures to inform an appropriate Executive of any serious misconduct, and

      9. procedures to monitor the general nature of the complaints.

    3. If a Dealer Member determines that the number or severity of complaints is significant, or when a Dealer Member detects frequent and repetitive complaints made with respect to the same or similar matters which may on a cumulative basis indicate a serious problem, the Dealer Member must:

      1. review its internal procedures and practices, and

      2. ensure recommendations to remedy the problem are submitted to the appropriate management level.

    There is no history log for this rule.

    There is no history log for this rule.