3726. Response to client complaints

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    1. The Dealer Member must send a substantive response letter to each complainant. 

    2. The substantive response letter must be accompanied by a copy of the complaint handling process brochure approved by IIROC.

    3. The substantive response letter must be presented in a manner that is fair, clear and not misleading to the client, and must include the following information:

      1. a summary of the complaint,

      2. the result of the Dealer Member’s investigation,
      3. the Dealer Member’s final decision on the complaint, including an explanation, and
      4. a statement describing to the client the options available if the client is not satisfied with the Dealer Member’s response, including the availability of:
        1. arbitration,
        2. litigation/civil action,
        3. submitting a complaint to IIROC,,
        4. the ombudsman service, if a request is made within the period required by the ombudsman,
        5. an internal ombudsman service offered by an affiliate of the Dealer Member, if any, with an explanation that:
          1. the use of the internal ombudsman process is voluntary, and
          2. the estimated length of time the process is expected to take based on historical data, and
        6. any other applicable options.
    4. A Dealer Member must respond to each client complaint as soon as possible and not later than 90 days from the date of receipt of the complaint subject to the following:
      1. the 90 days time line must include all internal processes of the Dealer Member that are made available to the client, other than the internal ombudsman process offered by an affiliate of the Dealer Member
      2. the Dealer Member must inform the client if the Dealer Member is unable to provide the client with a final response within the 90 days time line and must include the reasons for the delay and the new estimated time of completion, and
      3. the Dealer Member must inform IIROC if the Dealer Member is unable to meet the 90 days time line and must provide reasons for the delay.

    There is no history log for this rule.

    There is no history log for this rule.