Recently, my colleague and I had the pleasure of presenting an InvestRight seminar to a group at the Metrotown branch of Burnaby library. The reception the presentation received was great, and we had a quite a few questions during and after the seminar.

Last week, we provided answers to half of the questions we received. This week’s post takes care of the rest. Again, if you have additional questions, feel free to post them in the comments section below.

Q: If we complain to InvestRight, how do we know if someone is looking at our complaint?

A: Generally, we don’t publicly discuss complaints until we take enforcement action in order to preserve the integrity of an investigation. However, we look at every complaint we receive and we acknowledge all inquiries. If we decide to pursue a complaint from an investor, we may contact the complainant to collect more information. When we take enforcement action against a company or individual, we announce it through a news release that we publish to the BCSC website.

Q: What key information do I include in a complaint, if I decide to make one?

A: Our Filing a Complaint page is where you should start. First, you must decide if you are making a complaint against a company, and individual advisor, or both. You can use the “Complete a Complaint Form” webpage as a guide. You can also download a form from this section, which asks for key information. If you have any question call, or e-mail BCSC Inquiries.

Q: Are there other organizations like yours outside of BC?

 

A: Yes, there are 10 provincial and three territorial securities regulators in Canada. We are all  members of the Canadian Securities Administrators (CSA). While the CSA co-ordinates initiatives on a cross-Canada basis, provincial or territorial regulators handle all complaints and enforcement regarding securities violations in their respective jurisdictions. The CSA website hosts national registration and disciplined persons databases. You will also find contact information for all of the regulators on the CSA website.

 

Q: Who pays for InvestRight, and the BCSC’s investor education programming?

 

A: The BCSC funds InvestRight primarily from money from penalties and fines imposed on individuals and companies that have contravened the BC Securities Act.

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