The Canadian Investment Regulatory Organization (CIRO) has proposed reducing the standard deadline for dealer members to provide a final response to investor complaints from 90 days to 60 days. The change would give investors outside Quebec faster access to responses or escalation, aligning CIRO’s rules with Quebec’s existing complaint handling framework. It follows the review of complaint resolution timelines identified in CIRO’s fiscal 2027 annual priorities. An additional 30 days would be available for particularly complex complaints or delays beyond a dealer member’s control. Accompanying guidance identifies disputed suitability assessments, estate or tax matters and complaints involving multiple accounts as examples that may require extra time. Service or administrative matters, transaction errors, margin issues and account transfers would generally be expected to be addressed within 60 days.
Canadian Investment Regulatory Organization proposes shortening investor complaint response deadline from 90 to 60 days
The Canadian Investment Regulatory Organization proposes cutting dealers’ standard deadline for responding to investor complaints from 90 to 60 days, aligning its rules with Quebec’s framework. An additional 30 days would be available for particularly complex complaints or delays beyond a dealer’s control, with accompanying guidance distinguishing cases that may warrant extra time.