Legal


MUTUAL FUND DEALERS ASSOCIATION OF CANADA
Client Complaint Information

Clients of a mutual fund dealer who are not satisfied with a financial product or service have a right to make a complaint and to seek resolution of the problem. If you have a complaint, these are some of the steps you can take.

  • Your complaint should first be explained to your financial advisor. The person who sold you the product or service will solve most problems quickly.
  • Contact your mutual fund dealer. Member firms are responsible to you, the investor, for monitoring the actions of their representatives to ensure that they are in compliance with the legislation, rules and guidelines governing their activities.

Some problems are easily solved by a phone call. Some matters can be resolved through the Branch Manager. The dealer’s Compliance Department will investigate any complaint that you initiate in writing and respond back to you with the results of their investigation.

Contact the Mutual Fund Dealers Associations of Canada (MFDA), which is the selfregulatory organization in Canada to which your mutual fund dealer belongs. The MFDA investigates complaints about mutual fund dealers and their representatives, and takes enforcement action where appropriate. There is no cost to clients for referring a complaint to the MFDA. The MFDA can be contacted:

  • By telephone in Toronto at (416) 361-6332, or toll free at 1-888-466-6332,
  • By e-mail at complaints@mfda.ca , or
  • In writing, using the complaint form which is available on the MFDA website at www.mfda.ca

Contact the Ombudsman for Banking Services and Investments (OBSI), an organization independent of the MFDA, government, and the financial services industry. OBSI provides an independent and impartial process for the investigation and resolution of complaints about the provision of financial services to clients. OBSI will investigate your complaint only if you have first exhausted your firm’s internal complaint-handling processes. OBSI can make a non-binding recommendation that your firm compensate you (up to $350,000) if it determines that you have been treated unfairly, taking into account the criteria of good financial services and business practice, relevant codes of practice or conduct, industry regulation and the law. The OBSI process is free of charge and is confidential. OBSI can be contacted:

  • by telephone in Toronto at (416) 287-2877, or toll free at 1-888-451-4519; or
  • by e-mail at ombudsman@obsi.ca .
  • Retaining a lawyer to assist with the complaint.

SUMMARY OF ARTECH ASSET ADVISORY SERVICES INC. COMPLAINT HANDLING PROCEDURES

ARTECH  Asset Advisory Services Inc. has procedures in place to handle any written or verbal complaints received from clients in a fair and prompt manner. This is a summary of those procedures, which we provide to new clients and clients who have filed a complaint.

The Client Complaint Information Form

We also provide new clients and clients who complain with separate information called the Client Complaint Information Form (“CCIF”) that provides general information about their options for making a complaint.

How to File a Complaint with ARTECH Asset Advisory Services Inc.

Clients wishing to complain to ARTECH Asset Advisory Services Inc. may make their complaint to our head office by contacting Douglas R. St. Arnault, Chief Compliance Officer or Blaine St. Arnault, President.  All complaints are forwarded to qualified compliance or supervisory personnel to be handled. We encourage clients to make their complaint in writing or by email1 where possible. Where clients have difficulty putting their complaint in writing, they should advise us so that we can provide assistance. For confidentiality reasons, we will only deal with the client or another individual who has the client’s express written authorization to deal with us.

Complaint Handling Procedures

We will acknowledge receipt of complaints promptly, generally within five business days. We review all complaints fairly, taking into account all relevant documents and statements obtained from the client, our records, our representatives, other staff members and any other relevant source. Once our review is complete we provide clients with our response, which will be in writing if the complaint was made in writing. Our response may be an offer to resolve your complaint, a denial of the complaint with reasons or another appropriate response. Where the complaint relates to certain serious allegations 2, our initial acknowledgement will include copies of this summary and the CCIF. Our response will summarize your complaint, our findings and will contain a reminder about your options with the Ombudsman for Banking Services and Investments.

We will generally provide our response within ninety days, unless we are waiting for additional information from you, or the case is novel or very complicated.

We will respond to communications you send us after the date of our response to the extent necessary to implement a resolution or to address any new issues or information you provide.
SETTLEMENTS

If we offer you a financial settlement, we may ask you to sign a release and waiver for legal reasons.

Contacting ARTECH Asset Advisory Services Inc.

Clients may contact us at any time to provide further information or to inquire as to the status of their complaint, by contacting the individual handling their complaint or by contacting Douglas R. St. Arnault, Chief Compliance Officer or Blaine St. Arnault, President.

  1. Clients who choose to communicate by email should be aware of possible confidentiality issues regarding internet communications.
  2. As defined in the Policies of the Mutual Fund Dealers Association of Canada of which ARTECH is a Member.

ARTECH Asset Advisory Services Inc.
Politically Exposed Foreign Persons Declaration Form

Canadian anti-money laundering and anti-terrorist financing legislation requires that financial institutions obtain the following information in connection with clients who are politically exposed foreign persons.  If there are other persons on this account, and if these other persons are also politically exposed foreign persons, then please complete a separate Politically Exposed Foreign Persons Declaration Form for each person who qualifies under the definition and also select Yes on the first question in Section 2 (‘is another Politically Exposed Foreign Persons Declaration Form attached? Yes or No)

  1. Client information:
    Name:                _______________________
    Account Type:   _______________________
    Account #:         _______________________
  2. Politically Exposed Foreign Person InformationIs the Politically Exposed Foreign Persons Declaration Form attached? Yes/No (circle)If you are not the person who holds or has held a foreign political office, what is the name of the politically exposed foreign persons you are exposed to?
    Name:                _______________________
    Politically Exposed Foreign Person (PEFP) is a term used by Bill C-25, a regulation instilled to update the Proceeds of Crime (Money Laundering) and Terrorist Financing Act. The term is similar to a politically exposed person (PEP) as defined by other countries in the world.  As stated in the bill itself:”politically exposed foreign person – means a person who holds or has held one of the following offices or positions in or on behalf of a foreign state:

    1. head of state or head of government;
    2. member of the executive council of government or member of a legislature;
    3. deputy minister or equivalent rank;
    4. ambassador or attaché or counsellor of an ambassador;
    5. military officer with a rank of general or above;
    6. president of a state-owned company or a state-owned bank;
    7. head of a government agency;
    8. judge;
    9. leader or president of a political party represented in a legislature; or
    10. holder of any prescribed office or position.  It includes any prescribed family member of such a person”

    Essentially the term is designed to instruct the banking industry and affiliates to identify all persons who meet this definition, and monitor their activities.

    In what jurisdiction is/was the position held?
    ___________________________________________________

    During what period was the position held?
    ___________________________________________________

  3. Sources of Funds
    What is the source of the monies to be invested?

    Self – employment    Legal claim
    Wages/ Employment income    Gift/Inheritance
    Proceeds of an Insurance settlement    Savings
    Investment income    Sale of an investment
    Active business income    Other
  4. Declaration
    By signing below you confirm the information you have provided is complete, accurate and will be updated in the future if the information changes:

    __________________
    Client Signature
    ___________________
    Signature Guarantee
    __________
    Date