The Standards Council receives and reviews complaints about QAFP® professionals and CFP® professionals about:
Filing a complaint with the Standards Council does not affect any time limits, or “limitation periods” of ongoing or future civil legal proceedings. You may want to speak with a lawyer to understand your legal options and any limitation periods that could apply.
Generally speaking, the complaint process involves the following stages:
We will let you know we’ve received your complaint within 10 business days. During the initial review process, our staff may contact you for additional information and documentation about your complaint. We start the review when we have your signed complaint form and the information or documentation to support your complaint. The initial review period takes approximately 120 days to complete.
We will likely contact the QAFP professional or CFP professional during the initial review process to give the professional financial planner the opportunity to understand the complaint and provide them the opportunity to provide a fulsome response. We may share some or all the information provided by you with them, including the complaint form, your contact information, and supporting documentation.
If your complaint is referred for a formal investigation, we will inform you in writing, and provide you with the name and contact information of the investigator assigned to your file.
Once the investigator has a chance to review the file, they will contact you about any additional information they need. It is important that you respond to the investigator’s requests and provide:
At the end of the investigation, we present the findings to a screening committee called the Conduct Review Panel (CRP), which has the authority to:
The decision to refer a matter to a Hearing Panel is not made by staff. Only the CRP has the authority to refer a matter to a Hearing Panel. The CRP can refer none, some, or all allegations in a complaint to a Hearing Panel. Within 45 days of the CRP’s decision, the Standards Council will serve and file a Statement of Allegations, which provides details about the alleged conduct on which your complaint is based. Statements of Allegations are publicized and published on FP Canada’s website in the Proceeding Documents under Current Hearings.
Depending on the allegations we are including, you may or may not be asked to provide evidence, by either swearing an affidavit or being called as a witness in the Hearing Panel proceedings. If we require your testimony, the prosecutor or investigator will be in touch with you and keep you informed.
Please fill out the FP Canada Complaint Form and provide all documents and information which are relevant to your complaint or that FP Canada has requested. Your cooperation will ensure that the Standards Council has all the necessary information to assess your complaint.
We will notify you in writing about the outcome of the initial review process. At the initial review stage, a complaint file may be closed, closed with a staff caution, or referred for investigation. Not every complaint results in a formal investigation.
There are many reasons, including but not limited to: jurisdiction, level of potential risk, and insufficient evidence, that a complaint may not move to a formal investigation, and therefore many complaints are closed or resolved at the initial review