Questions or Concerns
We hope that you never have a concern or complaint about the services you have received from Alitis, however there may be times when such a situation may arise. The following is a summary of the process we have designed to help ensure that any concern or complaint is addressed quickly and effectively.
Step 1: Talk to your adviser
Most concerns or complaints can be resolved simply by talking to your adviser and obtaining more information.
Step 2: Contact the Chief Compliance Officer
If your concern or complaint cannot be resolved to your satisfaction, please contact Alitis’ Chief Compliance Officer and outline what went wrong, when it happened, and what you expect (e.g. your money back, an apology, account correction). All complaints must be made in writing and sent to the following address:
101 – 909 Island Highway
Campbell River, B.C.
Attention: Chief Compliance Officer
We will acknowledge your complaint in writing within five business days of receiving it, and we may ask you to provide clarification or more information to help us resolve your complaint. Normally we will provide our decision in writing within 90 days of receiving your complaint. The decision will include a summary of the complaint, the results of our investigation, our decision to make an offer to resolve the complaint or deny it, and an explanation of our decision. If we cannot provide you with our decision within 90 days, we will inform you of the delay, explain why our decision is delayed, and give you a new date for our decision.
Step 3: Utilize the Ombudsman for Banking Services and Investments (“OBSI”)
If we have been unable to reach a satisfactory resolution to your issue or if we do not provide you with our decision within 90 days after you made your complaint, you may be eligible for the OBSI’s free and independent dispute resolution service. The OBSI’s service is available to clients of Alitis and they can recommend compensation of up to $350,000. Using the OBSI’s service does not restrict your ability to take a complaint to a dispute resolution service of your choosing at your own expense, or to bring an action in court. Keep in mind there are time limits for taking legal action.
You have the right to use the OBSI’s service if your complaint relates to a trading or advising activity of our firm or by one of our representatives, if you brought your complaint to us within 6 years from the time that you first knew, or ought to have known, about the event that caused the complaint, and if you file your complaint with the OBSI within their prescribed time limits. These time limits are as follows: if we do not provide you with our decision within 90 days, you can take your complaint to the OBSI any time after the 90-day period has ended, or if you are not satisfied with our decision, you have up to 180 days after we provide you with our decision to take your complaint to the OBSI.
Should you wish to file a complaint with the OBSI, you can do so by calling them at 1-888-451-4519 or by emailing them at email@example.com. Once the process has been started, the OBSI will investigate and provide its recommendations. The OBSI works confidentially and in an informal manner. It is not like going to court, and you do not need a lawyer. During its investigation, the OBSI may interview you and representatives of Alitis, and we are required to cooperate in the OBSI’s investigations. Once the OBSI has completed its investigation, it will provide its non-binding recommendations to you and to us. The OBSI can recommend compensation of up to $350,000. If your claim is higher, you will have to agree to that limit on any compensation you seek through the OBSI. If you want to recover more than $350,000, you may want to consider another option, such as legal action, to resolve your complaint. For more information about the OBSI, please visit their website at www.obsi.ca.