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11 Cards in this Set
- Front
- Back
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What category of client complaint would churning belong to? |
Regulatory contravention. |
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Upon receiving a client complaint, a dealer member must return a Client Acknowledgement Letter. What length of time does the firm have to send this out, from the receipt of the complaint? |
5 business days. |
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Within 90 days of receiving the initial complaint, a dealer member is required to send the client a Client Substantive Response Letter. What information must this letter contain? |
The firm’s final decision on the complaint, including an explanation. |
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Arbitration is an Alternative Dispute Resolution method that involves and independent arbitrator. If a client decides to select this method of resolution, what condition is applied? |
The parties involved in arbitration agree to waive all other rights and remedies and accept the arbitrator’s decision as binding. |
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The OmbudsNetwork (OBSI) gives Canadian consumers access to independent complaint resolution services involving the banking, insurance, securities and mutual fund industries. What is the maximum dollar value that this network can work with? |
$350,000 |
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If a privilege is claimed in respect to a document, what is this document exempt from? |
Inspection or disclosure. |
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What party reserves the right to determine that privilege does not apply? |
The court. |
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What can a dealer do to assist in avoiding client complaints? |
Provide adequate training to RRs regarding their duties and responsibilities. |
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Which would most likely be considered a “privileged” communication? |
An internal investigation report where litigation is reasonably expected. |
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Which would not be considered an appropriate way for firm management to reduce complaints? |
Rewarding clients who don’t complain. |
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Your firm determines that the number of client complaints has increased each year for the last three years. What would be the best course of action? |
Review internal policies and procedures to determine if there is an underlying problem. |
