Complaint and Dispute Resolution
General
Ndax Canada Inc. (“Ndax”, “we”, “our” or “us”) ensures that any complaint received from you or a person authorized to act on your behalf will be investigated fairly, thoroughly, and expeditiously.
In accordance with the Investment Dealer and Partially Consolidated Rules (January 1, 2023) (the “IDPC Rules”) of the Canadian Investment Regulatory Organization (“CIRO”), Ndax is required to respond in writing to all written complaints, including service complaints where misconduct is not alleged, and complaints of misconduct against Ndax or one of its employees.
Only complaints submitted by you or a person authorized to act on your behalf will be reviewed and investigated. Acceptable forms of documentation for establishing a person’s authority to act on your behalf include a written authorization signed by you or formal legal documents, such as powers of attorney or court appointments.
Designated Complaints Officer
Ndax has a Designated Complaints Officer (“DCO”) who acts in a supervisory capacity over Ndax’s complaints process and may at times be actively involved in the investigation of complaints. Complaints are handled by qualified staff of Ndax’s compliance function and not by individuals who are the subject of a complaint.
Complaints and Alleged Misconduct
For the purpose of this policy:
- a “complaint” is a recorded expression of dissatisfaction with Ndax, or one of its employees or representatives, alleging misconduct, including where a preliminary investigation indicates that the allegation may have merit; and
- an “alleged misconduct” includes, but is not limited to, allegations of breach of confidentiality, theft, fraud, misappropriation or misuse of funds or crypto assets, forgery, unsuitable investments, misrepresentation, unauthorized trading relating to the account, other inappropriate financial dealings with clients and engaging in securities related activities outside of Ndax.
- Name of the person(s) that is subject to the complaint
- Affected account number(s)
- Nature of the complaint
- Date that any relevant issues transpired
- Desired outcome (e.g., money back, an apology, account correction)
For greater clarity, any matter which is the subject of a civil action or arbitration is not considered to be a complaint under this policy.
What to do if you have a complaint?
If you wish to submit a complaint, contact us at:
Ndax Canada Inc.
1700-411 1 St SE, Calgary, Alberta, T2G 4Y5
Toll Free: 1-833-727-Ndax (6329)
E-mail: [email protected]
You may want to consider using a method other than email for sensitive information.
A written complaint must include:
To help us resolve your complaint sooner, please make your complaint as soon as possible. Reply promptly if we ask you for more information. Keep copies of all relevant documents, such as letters, emails and notes of conversations with us.
Complaint procedures
Ndax requires all employees and representatives to report complaints to the DCO within one (1) business day of receipt. All complaints will be thoroughly investigated, implementing the following procedures:
(a) A preliminary investigation will be conducted. Upon receipt of complaint, we will promptly undertake a preliminary investigation to determine whether the complaint may have merit. The preliminary investigation will entail a summary assessment of the merits of the complaint. Where a preliminary investigation of an expression of dissatisfaction has been performed and Ndax determines that:
there is evidence to suggest that the alleged misconduct may have merit, it will be treated as a complaint and Ndax will process the complaint and an acknowledgement letter will be sent as soon as possible, typically within 5 business days, to the complainant; or
the nature of the complaint is unclear or there is no evidence to indicate that the complaint has merit, Ndax may request that the complainant provide clarification or more information to help us resolve a complaint. Where the complainant fails to document and submit the requested information, we may exercise our professional judgment and terminate the investigation of the complaint.
(b) Complaints will be internally investigated by Ndax in accordance with its established procedures. Upon receipt of a written complaint, our compliance team will:
immediately record the complaint in our complaint log; and
send an initial response letter (“acknowledgement letter”) within five (5) business days to the complainant which will include:
the name, job title, and full contact information of the individual at Ndax who is handling the complaint;
a statement indicating that you should contact the individual at Ndax handling the complaint if you would like to inquire about the status of the complaint or provide Ndax with any additional information;
an explanation of our internal complaint handling process, including but not limited to the role of the DCO;
a reference to an attached copy of the CIRO approved complaint handling process brochure (see CIRO Complaints Brochure: How to Make a Complaint) – (i) explaining how to make a complaint to both Ndax and the CIRO, (ii) on the various options for pursuing compensation – and a reference to the statutes of limitations contained in the document;
the ninety (90) calendar-day timeline to provide a substantive response to complainants; and
a statement informing the client that Ndax may request additional information, from time to time, to investigate the complaint, if required.
(c) Assistance to complainants. If requested, Ndax will assist you in submitting a complaint, particularly if you suffer from a disability in any way, if are a senior with special needs or a language barrier, or if any literacy issue is involved. To request assistance, you may contact our Complaints team as described above.
(d) Substantive response and complaint closures.
Substantive response: Once the investigation has been completed, we will normally provide a substantive response letter, within 90 days of receiving a complaint, which will be accompanied by CIRO’s approved complaint handling process brochure, “How to Make a Complaint”. The substantive response letter 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, including an explanation of our decision; and
include the following statement:
“We remind you that there are options available to you if you are not satisfied with our response, including: (i) arbitration; (ii) presenting your complaint to the Ombudsman for Banking Services and Investments which will consider complaints brought to it within 6 months of this letter; (iii) making a complaint to the CIRO; or (iv) retaining a lawyer to assist you with your complaint. In accordance with the IDPC Rules, we are enclosing a brochure entitled “How to Make a Complaint” (a copy of this brochure was also provided to you with our initial response letter dated {month, day, year}).”
If our decision is delayed - In the event that the investigation of the complaint cannot be concluded within ninety (90) days of its receipt (for example where Ndax has requested additional information which was not forthcoming within a reasonable time period and/or where there is an extensive amount of fact-finding or complex legal or other analysis), we will:
inform you of the delay;
explain why our decision is delayed; and
give you a best estimate of the time required for the completion of the substantive response.
Any releases entered into between Ndax and the client will not impose restrictions aimed at preventing the client from initiating a complaint to the securities regulatory authorities, self-regulatory organizations or other enforcement authorities, or continuing with any pending complaint in progress, or participating in any further proceedings by such authorities.
Alternative resolution. Under applicable IDPC Rules, we are required to provide a complainant a copy of the CIRO’s “How to Make a Complaint” brochure, which describes the arbitration program or organization approved by CIRO and the ombudsperson service.
A word about legal advice
You always have the right to go to a lawyer or seek other ways of resolving your dispute at any time. A lawyer can advise you of your options. There are time limits for taking legal action. Delays could limit your options and legal rights later on.
Last Updated on February 1, 2025