Your recourses
Anyone who suspects a financial services advisor of a violation or professional misconduct may contact the syndic of the Chambre. This applies even if the advisor in question is not your own or if the incident occurred a long time ago. It is important to note that the CSF intervenes only in cases of violations committed by its current or former members.
Role of the CSF syndic
The syndic of the CSF plays a key role in regulating practices by investigating professionals who are suspected of violating applicable laws and regulations, including the Act respecting the distribution of financial products and services, the Securities Act and the two codes of ethics of the Chambre.
Steps for requesting an inquiry
Before requesting an inquiry
If you have doubts about the professionalism of an advisor, or if a product being sold does not suit your needs, try if possible to clarify the situation with the professional involved. Explain your concerns and review your financial situation, expectations and objectives together. The clarifications provided by both parties may be enough to resolve the issue.
If you still have doubts, you can contact the firm or brokerage to which the advisor belongs and ask to speak to another advisor or a manager. If these steps do not yield any results, or if the context does not allow for such a discussion, you can submit a request for inquiry to the syndic of the CSF.
Requesting an inquiry
A request for an inquiry may be justified, among other reasons, if:
- You are dissatisfied with the services received.
- You cannot get the explanations or information you need.
- You believe that the advisor has broken ethical rules or regulations related to their professional practice.
To request an inquiry, please download the Request for Inquiry form, fill it out and send it to demande-enquete@chambresf.com. You may also print the form, fill it out by hand and mail it to the CSF.
Who can file a request for inquiry?
Any person or organization can file a request for an inquiry: consumers, insurance companies, consumer protection organizations, firms or brokers, the Autorité des marchés financiers, the Financial Services Compensation Fund, CSF members, etc.
The syndic may also open a file on his own initiative.
Can an request for inquiry be made anonymously?
No, because the syndic may have to contact you for clarification or additional information. However, the inquiry process is conducted in a confidential manner. Your personal information and the content of your request will be shared only with the parties required to process the inquiry.
When should a request for inquiry be filed?
There is no time limit for filing a request for inquiry. You can do so as soon as you suspect a breach of ethics, regardless of how much time has passed since the incident happened. Each request is handled rigorously, with the aim of protecting the public and improving the professional practice of advisors.
When a request for inquiry is received, the syndic collects the relevant information to determine the facts. This includes documents, testimonies and interviews with the parties involved. The process is confidential and thorough.
During the inquiry, the professional in question is presumed innocent. However, it is important to point out that current members of the CSF, or those who have been members in the past, are required to cooperate with the syndic’s inquiry.
Once the inquiry is completed, the syndic may:
- Close the inquiry file, for example if the evidence is insufficient or unfounded.
- Impose administrative sanctions on the professional concerned, such as warnings, meetings, training or commitments to comply.
- File a disciplinary complaint with the Disciplinary Committee.
The syndic’s decision is communicated in writing to the person who filed the request. If this person is not satisfied with the decision, for example, not to refer the matter to the Disciplinary Committee, they may appeal to the Autorité des marchés financiers. The AMF will issue an opinion on the syndic’s decision through the Review Committee for the Decisions of the Syndics of the Chambres.
All requests for review must be sent within 30 days after the syndic’s decision to the following address:
Secretariat of the Autorité des marchés financiers
800 Square Victoria St.
Suite 2200
Montreal, QC H3C 0B4
Tel: 514-395-0337 or 1-877-525-0337
Email: comite-revision@lautorite.qc.ca
Private complaint
You may also choose to proceed directly, without involving the syndic, to file a complaint with the Disciplinary Committee of the CSF. This is known as a private complaint.
The complaint must be supported with a sworn statement and describe in detail the allegations against the advisor in question. The burden of proof lies with the complainant, who must prove to the Disciplinary Committee that the advisor did in fact commit the offences alleged in the complaint.
Before filing a private complaint, the complainant should review the decisions rendered by the Disciplinary Committee or consult a lawyer. Under no circumstance can the secretariat of the Disciplinary Committee provide legal advice.
There are no fees for filing a complaint. However, pursuant to section 151 of the Professional Code, if the respondent is acquitted of every charge contained in the complaint and the complaint is considered excessive, frivolous or clearly unfounded, the Disciplinary Committee can order the private complainant to pay the costs and disbursements.
To file a private complaint, please communicate directly with the Disciplinary Committee of the CSF, by clicking here.
Role of the Disciplinary Committee
The disciplinary process of the CSF begins after a complaint is filed with the Disciplinary Committee. This committee is made up of experts who review the evidence, hear the parties involved and make a decision. If misconduct is proven, the Disciplinary Committee may impose sanctions, such as a fine or disbarment. Disbarment means that a person loses their right to practice their profession, either temporarily or permanently.
It is important to understand that disciplinary law does not seek to compensate victims. Its main role is to punish misconduct to prevent it from happening again, in order to protect the public and maintain confidence in the profession. Victims who wish to receive compensation must generally turn to other authorities, such as civil courts.
Transparency of the Disciplinary Process
The disciplinary process is public, in accordance with the principles of transparency in Quebec’s legal system. This means that anyone can attend hearings and consult the decisions rendered, unless a closed-door order has been issued to protect the confidentiality of certain information.
Likewise, all decisions of the Disciplinary Committee are published on SOQUIJ, an official platform for the dissemination of legal decisions in Quebec.
Hearing roll
Would you like to know which cases will be heard soon? Check the hearing roll to see the list of upcoming hearings and the parties involved.
Decision summaries
To better understand the types of offences handled and the sanctions imposed by the Disciplinary Committee, you can view summaries of the decisions rendered. These summaries provide a clear and accessible overview of the judgments.
Full decisions on the SOQUIJ website
To view the full decisions rendered by the Disciplinary Committee, please visit the SOQUIJ website. In the search tool, enter the name of the person in question, the file number, or select “Comité de discipline de la Chambre de la sécurité financière (CDCSF)” from the list of tribunals and organizations to filter the results.
Other mechanisms for resolving disputes
In addition to the disciplinary process of the CSF, other recourses are available for consumers to resolve a dispute or obtain compensation. These mechanisms have different objectives—such as mediation, compensation, or complaint handling—and are managed by separate authorities.
It is important to note that these authorities are independent of one another. As such, decisions rendered or settlements reached through these processes cannot be contested before the CSF.
The Autorité des marchés financiers offers a mediation service for disputes between dissatisfied consumers and businesses registered with it. However, a consumer who believes he has been harmed must first file a complaint with the business in question, which must offer a complaint examination and dispute resolution procedure. If the consumer is dissatisfied with the resolution proposed by the business, he can then turn to the Autorité des marchés financiers.
For more information, click here.
The mission of the Fonds d’indemnisation des services financiers is the protection of the public. It is administered by the Autorité des marchés financiers and is financed by the contributions of individuals and firms authorized to carry on business under the Act respecting the distribution of financial products and services and by the contributions of group savings representatives and scholarship plan representatives pursuant to the effect of section 193 of the Securities regulation. This section imposes the application of the provisions of the Act respecting the distribution of financial products and services pertaining to the mandatory professional liability insurance of representatives.
The fund is intended to compensate victims of fraud, embezzlement or dishonest practices who conduct business with the individuals and businesses referred to above.
The Autorité des marchés financiers is responsible for analyzing claims for compensation, ruling on their eligibility and determining the compensation amount to be paid to the victim.
For more information on the eligibility criteria or for any question regarding the Fonds d’indemnisation des services financiers, please visit the website of the Autorité des marchés financiers.
Are you dissatisfied with the services you have received from the Chambre de la sécurité financière? Or would like to send us your comments or ideas for improving our services?
Please share your concerns by sending us your complaint:
By e-mail: info@chambresf.com
By mail:
Chambre de la sécurité financière
2000, avenue McGill College,
12th floor
Montreal, Quebec
H3A 3H3
The CSF will send you an acknowledgement of receipt, along with a processing deadline.
In order to offer optimal service in handling complaints, the CSF has adopted a Complaints Handling Procedure. We invite you to consult it for more information.
Learn more
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The Chambre de la sécurité financière (the “CSF”) places great importance on the protection of personal information it holds within the scope of its activities. Moreover, the CSF is subject to the Act respecting access to documents held by public bodies and the protection of personal information, which imposes upon it the obligation to ensure the confidentiality of the personal information it holds and take the necessary safeguards to do so. Consequently, the CSF has adopted very stringent security and control measures to ensure the protection of this information.
The annual reports of the Chambre de la sécurité financière go beyond a simple financial statement. They provide an overview of the year’s activities: our achievements, strategic initiatives and efforts to protect the public. They document our tangible actions to support the professionalism of our members while ensuring compliance with ethical rules.
