Mutual fund company complaint

Zoomer | January 1st, 2006

Question: Please! Can you provide me with a contact I can speak with regarding lodging a complaint against a mutual funds company.

Answer: It depends on the nature of the problem. You may be able to get satisfaction simply by writing to a senior executive of the company. A letter sent to the president will usually find its way to the desk of the appropriate person, assuming the complaint is legitimate and serious.

The Investment Funds Institute of Canada, which has its headquarters in Toronto, is a voluntary association of mutual fund companies. While it does not act as a policeman for the industry, it does set regulations for its members so if you have a situation that appears to violate one of their regulations you could address a complaint there. The Web site address is http://www.ific.ca

Finally, if the matter is very serious and appears to involve some kind of unethical or even illegal activity, you should complain to your provincial securities commission. Each province has its own commission. Contact them directly for information on how to file a complaint.