At Sentinel Financial Management Corp. (“Sentinel”), we strive to make your experience with us and our representatives a good one. If, however, an issue arises that you would like to bring to our attention, these are our procedures.
A “complaint” shall be deemed to include any written or verbal statement of grievance, including electronic communications from a client, former client, or any person who is acting on behalf of a client and has written authorization to so act, or of a prospective client who has dealt with Sentinel or a representative, alleging a grievance involving Sentinel, or a current or former representative of Sentinel, if the grievance involves matters that occurred while the representative was a representative of Sentinel.
When receiving a complaint, Sentinel is required to report it to the Mutual Fund Dealers Association (“MFDA”) within 5 or 20 days, depending on the nature of the complaint.
When we receive your formal complaint, we will document the complaint and our Chief Compliance Officer (“CCO”) will attempt to contact you to resolve the issue. Each step will be recorded in a Complaint Log.
Should your complaint be service related, your representative will attempt to contact you to resolve the issue and they are obliged to advise the CCO of the complaint.
When we receive your complaint, we will open a complaints file, where all activity will be initiated and monitored by our CCO.
The CCO will execute the following:
- Prepare a Complaint File;
- Request client statement(s) from the Branch Manager;
- Request a written response from the representative, and copies of their client file(s);
- Review the representative’s Licensing & Registration file;
- If required, notify regulator(s) (MFDA, Securities Commission);
- Acknowledge all your complaints in writing within 24 hours of receiving your complaint. This acknowledgment letter will state in part that an investigation has been started and that further information will be provided within three weeks. You will also receive a copy of the MFDA’s disclosure document, Client Complaint Information Form.
- We will convey the results of our investigation to you in writing as soon as possible. The time period may vary depending on the complexity of the matter, however we will make every effort to provide you with our substantive written response in most cases within three months of receipt of your complaint.
- Inform you if the investigation has not been completed within the allotted time, and provide you with an estimated time line for resolution and a request for patience in the matter.
If we offer a financial settlement, we may ask you to sign a release and waiver for legal purposes.
For more information regarding the complaint handling process please contact our Chief Compliance Officer, Lyn McGaughey at email@example.com or by phone at (306) 652-7225 or (800) 667-3929 or by post to:
Lyn McGaughey, Chief Compliance Officer
Sentinel Financial Management Corp.
200 – 446 2nd Avenue North
Saskatoon, SK, S7K 2C3
Clients of a mutual fund dealer who are not satisfied with a financial product or service have a right to make a complaint and to seek resolution of the problem. MFDA Member dealers have a responsibility to their clients to ensure that all complaints are dealt with fairly and promptly. If you have a complaint, these are some of the steps you can take:
- Contact your mutual fund dealer. Member firms are responsible to you, the investor, for monitoring the actions of their representatives to ensure that they are in compliance with bylaws, rules and policies governing their activities. The firm will investigate any complaint that you initiate and respond back to you with the results of their investigation within the time period expected of a Member acting diligently in the circumstances, in most cases within three months of receipt of the complaint. It is helpful if your complaint is in writing.
- Contact the Mutual Fund Dealers Association of Canada (“MFDA”), which is the self-regulatory organization in Canada to which your mutual fund dealer belongs. The MFDA investigates complaints about mutual fund dealers and their representatives, and takes enforcement action where appropriate. You may make a complaint to the MFDA at any time, whether or not you have complained to your mutual fund dealer. The MFDA can be contacted:
- By completing the on-line complaint form at www.mfda.ca
- By telephone in Toronto at (416) 361-6332, or toll free at 1-888-466-6332
- By e-mail at firstname.lastname@example.org 1
- In writing by mail to 121 King Street West, Suite 1000, Toronto, ON M5H 3T9 or by fax at (416) 361-9073
The MFDA does not order compensation or restitution to clients of Members. The MFDA exists to regulate the operations, standards of practice and business conduct of its Members and their representatives with a mandate to enhance investor protection and strengthen public confidence in the Canadian mutual fund industry. If you are seeking compensation, you may consider the following:
- Ombudsman for Banking Services and Investments (“OBSI”): You may make a complaint to OBSI after you have complained to the dealer, at either of the following times:
- If the dealer’s Compliance Department has not responded to your complaint within 90 days of the date you complained, or;
- After the dealer’s Compliance Department has responded to your complaint and you are not satisfied with the response. Please note that you have 180 calendar days to bring your complaint to OBSI after receiving the dealer’s response.
- OBSI provides an independent and impartial process for the investigation and resolution of complaints about the provision of financial services to clients. OBSI can make a non-binding recommendation that your firm compensate you (up to $350,000) if it determines that you have been treated unfairly, taking into account the criteria of good financial services and business practice, relevant codes of practice or conduct, industry regulation and the law. The OBSI process is free of charge and is confidential. OBSI can be contacted:
- By telephone in Toronto at (416) 287-2877, or toll free at 1-888-451-4519
- By e-mail at email@example.com
- Legal Assistance: You may consider retaining a lawyer to assist with the complaint. You should be aware that there are legal time limits for taking civil action. A lawyer can advise you of your options and recourses. Once the applicable limitation period expires, you may lose rights to pursue some claims.
- Manitoba, New Brunswick and Saskatchewan: Securities regulatory authorities in these provinces have the power to, in appropriate cases, order that a person or company that has contravened securities laws in their province pay compensation to a claimant. The claimant is then able to enforce such an order as if it were a judgment of the superior court in that province. For more information, please visit:
- Manitoba: www.msc.gov.mb.ca
- New Brunswick: www.nbsc-cymnb.ca
- Saskatchewan: www.fcaa.gov.sk.ca
- In Québec:
- If you are not satisfied with the outcome or with the examination of a complaint, the Autorité des marchés financiers (“AMF’) can examine your complaint and may provide dispute resolution services.
- If you think you are a victim of fraud, fraudulent tactics or embezzlement, you can contact the AMF to see if you meet the eligibility to submit a claim to the Fonds d’indemnisation des services financiers (“Financial Services Compensation Fund”). An indemnity up to $200,000 can be payable through monies accumulated in the fund for an eligible claim.
- For more information:
- Contact the AMF by telephone at (418) 525-0337 (in Québec), or toll free at 1-877-525-0337
- Visit www.lautorite.qc.ca.
1you may wish to consider issues of internet security when sending sensitive information by standard e-mail.
This Policy establishes minimum requirements for disclosure of MFDA Membership pursuant to MFDA Rule 2.13 (Disclosure of MFDA Membership). The Rule requires Members to include the MFDA Logo on account statements and on the Member’s website. MFDA Members must use the MFDA Logo prescribed in this Policy to satisfy the MFDA membership disclosure requirements set out in Rule 2.13.
The purpose of Rule 2.13 and this Policy is to promote client awareness of the regulatory oversight exercised by the MFDA in respect of MFDA Members and their Approved Persons.
2. Definition of the MFDA Logo
Pursuant to MFDA Rule 2.13, the MFDA Logo means the logo prescribed by the Corporation, from time to time, for use by Members. For the purpose of the disclosure requirements prescribed in Rule 2.13, the MFDA Logo includes the image of the MFDA’s trademark design and the English words “Regulated by Mutual Fund Dealers Association of Canada” or the French words “Réglementée par Association canadienne des courtiers de fonds mutuels”.
3. MFDA Logo on Account Statements and on the Member’s Website
Members must include the MFDA Logo on the front of each account statement that is sent to clients. Members must also include the MFDA Logo on the Member’s website homepage. Where the Member’s site or internet presence is part of a combined financial institution group website, the MFDA Logo must be included on the Member’s main page.
In addition, the MFDA Logo must be followed by the web address of the official website of the MFDA, which is www.mfda.ca, on both the account statement and on the Member’s website.
For the purposes of complying with Rule 2.13 and this Policy, Members may determine the size of the MFDA Logo depending on what would reasonably be considered to be an appropriate size for the individual layout of the account statement or website. However, Members must ensure that the MFDA Logo is clearly visible and prominently included on the front of the account statement and on the Member’s website.
4. Prohibitions on Use of the MFDA Logo
In accordance with MFDA By-Law No. 1, a MFDA Member will be prohibited from including the MFDA Logo on account statements and on its website upon suspension of the Member’s membership in the MFDA or upon the termination of the Member’s membership in the MFDA.