You’ve lost money due to a disagreement with your advisor or maybe your advisor’s firm went bankrupt. Where do you turn?
Last month, the Joint Forum launched a new webpage called Seeking Compensation that sets out an easy-to-use, step-by-step description of where you can turn if you believe that you have lost money because of
- an error or disagreement with, or the possible misconduct of, your representative or financial company. For example, your account was mishandled, or you received inappropriate advice or misleading information.
- your financial institution going bankrupt.The guide provides information about compensation funds that may protect you in these circumstances.
The Joint Forum is a mechanism through which pension, securities, and insurance regulators co-ordinate, harmonize, and streamline the regulation of financial products and services in Canada
Today, we’ve added a link to this Joint Forum webpage to the advisor misconduct page on our website.
In addition to covering investment losses, it also provides information if you have lost money for the reasons above in connection with insurance or banking products.
One of the responses I received regarding Cyprus-based Genius Funds really puzzles me. In one of my blogs, I ask “is Genius registered with any securities commission or any other regulatory body?” The comment back was “YES! If you had done your due diligence you would have been easily able to find out that […]