Alert:
A nationwide postal strike or lockout may occur as early as November 3, 2024. Dealer Members must take steps to ensure that document delivery requirements prescribed under CIRO Rules continue to be met.
CIRO Hearing Committees are committed to providing a fair, impartial, transparent, credible and efficient hearing process. The Hearing Committees’ Code of Conduct sets high standards of conduct. A complaint may be brought under this process if a Hearing Committee member has violated the Code of Conduct.
A complaint about a hearing cannot change the outcome of the hearing or the decision made by a hearing panel even if the Hearing Committee member violated the Code of Conduct. Decisions of the CIRO Hearing Committees can be overturned only by the relevant securities regulatory authorities. See Hearing Panel Decisions - Review or Appeal a Decision for more information on how to review or appeal the decision of a CIRO hearing panel.
Anyone may make a complaint. This includes parties to a proceeding, their legal counsel, hearing panel members, witnesses, interpreters, registrars, court reporters, individuals on behalf of an organization, or members of the public attending the hearing.
This complaint process deals with the conduct of a Hearing Committee member but is not related to their decision. For example, behaviour that may violate the Code of Conduct includes dishonest or disrespectful conduct, inappropriate comments made during or outside the hearing room, or inappropriate disclosure of confidential information
The complaint process does not include the decision made by CIRO hearing panels or the way in which it was made. For example, a complaint about findings of facts or interpretation of the law, fairness of the hearing process, or outcome of the decision will not be considered through this process. Such concerns should be raised at the hearing if the proceedings are still ongoing (if the concern is about a conflict or bias, the hearing panel may decide whether they can continue hearing the matter or recuse themselves from the case), or with the relevant securities regulatory authorities if the CIRO hearing had concluded and a final decision had been made.
This chart demonstrates the appropriate process:
* Please see Hearing Panel Decisions – Review or Appeal a Decision for the list of the relevant securities regulatory authorities.
You should make a complaint as soon as possible after the alleged behaviour occurred.
Normally, a complaint will not be dealt with until the proceeding is concluded. For example, if the complaint is about a member of the hearing panel that is still hearing the matter, a review of the complaint will not start until the proceeding is over. This is necessary to preserve the integrity of the hearing process. Your concerns may also be addressed by the hearing panel during the proceeding.
The complaint must be made within a reasonable time following the occurrence of the alleged behaviour, i.e., without delay and within a period of time that is fairly necessary and appropriate in the circumstances.
You can make a complaint by providing the Hearings Office with the following information:
Please send your complaint to the Hearings Office by email to [email protected] or by mail to:
Canadian Investment Regulatory Organization
Hearings Office
40 Temperance Street, Suite 2600
Toronto, Ontario M5H 0B4
If you need an alternate way to submit your complaint, or if you need other accommodations to participate in the complaint process, please let us know at [email protected] or 416-943-5846.
The Hearings Office does not accept anonymous complaints. To properly and fairly deal with your complaint, we must share some or all of the information about your complaint with the Hearing Committee member subject to the complaint. However, in special circumstances, at your request, we may keep your identity anonymous if we can properly and fairly review the complaint. If we cannot conduct a fair review unless your identity is revealed to the Hearing Committee member, we will let you know. We will then give you an opportunity to consider and confirm if you still wish to pursue your complaint. Your complaint and our review process are otherwise confidential.
We handle the complaint thoroughly, as quickly as possible, and in a way that is fair to both the individual making the complaint and the Hearing Committee member who is the subject of the complaint.
When we receive a complaint, we will confirm receipt and keep you updated about the status of your complaint.
The Hearings Office will review the complaint and decide if the complaint:
The Hearings Office may:
If the complaint is going to be reviewed, we will give notice of the complaint to the Hearing Committee member subject to the complaint. We normally will provide notice of the complaint to the Hearing Committee member only after the hearing panel makes their final decision in the proceeding. The Hearing Committee member will have an opportunity to respond to the complaint.
The Hearings Office will inform you and the Hearing Committee member who is the subject of the complaint of the result of the review in writing.
If the Hearings Office finds that the Code of Conduct was violated, we will decide what action to take to address the complaint. In deciding what action to take, the Hearings Office may consider whether the member has ever had similar conduct before, the seriousness of the misconduct, or any other relevant factors and circumstances.
The Hearings Office’s decision on the complaint cannot change the outcome of the decision rendered by the hearing panel. See Hearing Panel Decisions - Review or Appeal a Decision for more information on how to review or appeal the decision of a CIRO hearing panel.
To submit a complaint or ask a question about the complaint process, please contact the Hearings Office at [email protected] or 416-943-5846.
If your complaint is about the Hearings Office, please follow the complaint process for Complaints About CIRO.