Protection of the public

Other recourses


Consumers of financial products and services who are dissatisfied with the services received from a representative have other recourses, including those described below. It is important to note that these various entities, including the CSF, are independent from one another. Thus, decisions rendered by these entities or settlements entered into with them cannot be contested through 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 by clicking here.

A consumer who has filed a request for an inquiry with the CSF and is dissatisfied with the syndic’s decision not to bring the file before the Disciplinary Committee can turn to the Tribunal administratif des marchés financiers, an independent administrative tribunal specializing in the financial sector.

For more information, click here.

When the syndic of the CSF decides not to file a complaint against the representative who was the subject of the inquiry, the person who requested the inquiry can themselves file a disciplinary complaint. This is referred to as a private complaint.

The complaint must be supported by a sworn statement and must contain a precise description of the facts alleged against the representative. The burden of proof is on the complainant. It will be his responsibility to prove to the Disciplinary Committee that the representative has indeed committed 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, the complainant must contact the secretariat of the CSF’s Disciplinary Committee by clicking here.

The Office de la protection du consommateur (OPC) is a Government of Québec agency that helps consumers make informed choices and informs them about their rights, obligations and recourses in the event of a problem with a business. It also monitors the application of the laws and regulations under its jurisdiction.

For more information, visit the OPC’s website.