ADR Chambers Dispute Resolution for Financial Services Providers
National Instrument 31-103 Compliance
ADR Chambers (ADRC) has designed a dispute resolution program specifically to address the regulatory requirements of NI 31-103.
The Canadian Securities Administrators’ National Instrument 31-103 – Registration Requirements and Exemptions (NI 31-103) requires registered Financial Services Providers (FSPs) to provide dispute resolution services as follows:
Dispute resolution service
(1) A registered firm must ensure that independent dispute resolution or mediation services are made available, at the firm’s expense, to a client to resolve a complaint made by the client about any trading or advising activity of the firm or one of its representatives.
(2) If a person or company makes a complaint to a registered firm about any trading or advising activity of the firm or one of its representatives, the registered firm must as soon as possible inform the person or company of how to contact and use the dispute resolution or mediation services which are provided to the firm’s clients.
The deadline for compliance with this requirement has been extended to September 28, 2012.