IIROC Arbitration Program - New 2011 Rules of Procedure
The ADRC IIROC arbitration program provides IIROC Member firms and their clients in Ontario, Newfoundland and Labrador, Nova Scotia, Prince Edward Island, New Brunswick, Manitoba, Saskatchewan, Alberta, British Columbia, the Northwest and Yukon Territories, and Nunavut with an effective alternative to litigation in resolving their disputes.
Effective January 14, 2011, IIROC has made two important changes to the arbitration program. The ceiling for claims has been increased from $100,00 to $500,000, and the investor has been given the option of deviating from the traditional rule allowing the arbitrator to award legal costs. See IIROC's announcement of the changes.
ADR Chambers is a national alternative dispute resolution organization, completely independent of IIROC, that has been engaged by IIROC to administer the arbitration program. IIROC Dealer Member Rule 37 requires Dealer Members to participate in arbitration proceedings should a client initiate them.
Who qualifies for the IIROC Arbitration Program?
- Client resident in Ontario, Newfoundland and Labrador, Nova Scotia, Prince Edward Island, New Brunswick, Manitoba, Saskatchewan, Alberta, British Columbia, the Northwest and Yukon Territories, or Nunavut.
- Investment dealer concerned is an IIROC Member firm.
- Client has attempted to resolve the dispute directly with the investment dealer.
- Amount in dispute does not exceed $500,000 (unless both parties agree to a higher sum).
- Facts in dispute occurred after January 1, 1992 (British Columbia), June 30, 1998 (Ontario), June 30, 1999 (Atlantic Provinces), or July 1, 1999 (Manitoba, Saskatchewan and Alberta).
Rules of Procedure of The ADRC-IIROC Arbitration Program ( PDF Format)
(Effective April 15, 2014)
IIROC Arbitration Rate Schedule ( PDF Format)
IIROC Notice of Arbitration Form ( PDF Format)
IIROC Claimant Cost Election Form ( PDF Format)
For general information about complaints involving IIROC members, contact IIROC at (877) 442-4322 or visit http://www.iiroc.ca.
For information on making a complaint to the Ombudsman for Banking Services and Investment (OBSI): (888) 451-4519 or visit http://www.obsi.ca/.
For specific information on initiating arbitration proceedings, contact the IIROC Program Administrator at ADR Chambers:
Telephone: (416) 362-8555, ext. 445 or (800)856-5154, ext. 445