Policy on equitable complaint and dispute resolution

Complaints and Disputes

MICA has adopted a policy on equitable complaint and dispute resolution.

This policy applies to representatives associated with MICA as defined by regulation.

Before contacting MICA about a case, a client should first identify which category it falls under.

If the facts of the case relate to mutual funds or exempt markets and concern a representative associated with MICA, the client can send the complaint to MICA.

If the facts of the case relate to personal insurance, before filing a complaint, the client should confirm the registration status of the representative concerned. If the representative is not associated with MICA in the insurance field, the intended complaint should be sent directly to the representative or to the firm the representative is associated with for life and health insurance. To check a representative’s registration status, you can consult the Autorité des marchés financiers website at https://lautorite.qc.ca/en/general-public/registers/register-of-firms-and-individuals-authorized-to-practise/.

Who is responsible for handling a complaint’s file once it’s been duly submitted?

MICA’s Chief Compliance Officer is responsible for carrying out the complaint and dispute resolution policy and acts as the contact person for the Autorité des marchés financiers.

What is a complaint or dispute?

For the purposes of this policy, a complaint does at least one of the following:

  • Criticizes the actions of a registered representative
  • Identifies real or potential harm that a consumer has been or could be subject to
  • Claims a corrective measure

An informal process for rectifying a specific problem does not constitute a complaint, insofar as the problem is handled within normal business activity and the consumer doesn’t file a complaint.

As a general rule, MICA requests that client complaints be sent in writing by mail or email.

Where should a complaint be sent?

We encourage clients to lodge complaints in writing or by email if possible. Clients who have difficulty with putting a complaint in writing should inform us as soon as possible so we can assist them. For reasons of confidentiality, we can only deal with the client concerned or with a person whom the client has authorized expressly and in writing to deal with us in their name.

A consumer who wants to file a complaint regarding mutual funds or exempt markets should send the complaint in writing to this address:

MICA Capital inc. Direction de la conformité, 7900 boul. Pierre-Bertrand, bureau 300, Québec City, QC  G2J 0C5

Or by email at siegesocial@micasf.com

Records of complaints filed

When a complaint is received, a complaint file is created and sent to the person responsible for handling and overseeing the resolution process.

What happens after MICA receives a complaint?

An acknowledgment of receipt is sent to the complainant within five business days after the complaint is received, along with a notice to the complainant and a copy of our policy on complaint and dispute resolution.

The complaint is added to our record of complaints.

An in-depth analysis of the file is carried out by the person responsible for handling complaints.

Once this analysis is complete, a reasoned response is sent in writing to the complainant, no more than 90 days after the complaint was received. Our response may take the form of a settlement offer, a rejection of the complaint explaining our reasons, or any other response that we deem appropriate.