CIRO Proposes National 60-Day Standard for Investor Complaint Responses

Proposed changes will give investors faster access to complaint responses or escalation while providing flexibility for complex complaints

TORONTO, Oct. 29, 2026 /CNW/ -- The Canadian Investment Regulatory Organization (CIRO) is proposing rule amendments that will shorten the standard response time for investor complaints from 90 days to 60 days. When implemented, these changes will give investors outside Quebec faster access to complaint resolution or escalation and promote fair, consistent complaint handling across Canada.

Canadian investors deserve a fair and timely response when they raise a complaint, regardless of where they live, but current timelines differ across the country. Dealers subject to the Autorité des marchés financiers' (AMF) requirements in Quebec generally have 60 days to provide a final response, while dealers in other provinces generally have 90 days under CIRO rules. The proposed amendments will harmonize CIRO's requirements with Quebec's current complaint-handling framework, establishing a consistent 60-day standard timeline nationwide. An additional 30 days will be available for particularly complex complaints or delays beyond a dealer member's control.

"Effective complaint handling is fundamental to investor protection and confidence in Canada's capital markets," says Alexandra Williams, Senior Vice-President, Strategy, Innovation and Stakeholder Protection at CIRO. "Investors deserve timely answers and a clear understanding of their options when concerns arise. This proposed framework would provide faster responses for most complaints, helping reduce uncertainty and frustration while preserving the flexibility needed to thoroughly address more complex matters."

In addition to the proposed rule amendments published today, CIRO is also providing guidance to help dealer members determine when the additional 30-day period may be appropriate. Complaints involving disputed suitability assessments, estate or tax matters, multiple accounts, unapproved outside activities, personal financial dealings or former employees may require more time. Service or administrative matters, transaction errors, margin issues and account transfers would generally be expected to be addressed within 60 days.

CIRO identified reviewing the current complaint-handling framework in its 2027 Annual Priorities as part of broader efforts to enhance investor protection through stronger complaint-handling rules. Investor feedback underscores the importance of this work: in CIRO's 2024 Investor Survey, 70 per cent of surveyed investors said the current 90-day time frame was unreasonable.

CIRO is accepting comments on the proposed amendments until January 27, 2027. The proposed amendments and related guidance are available on CIRO's website.

About CIRO

The Canadian Investment Regulatory Organization (CIRO) is the national self-regulatory organization that oversees all investment dealers, mutual fund dealers and trading activity on Canada's debt and equity marketplaces. CIRO is committed to the protection of investors, providing efficient and consistent regulation, and building Canadians' trust in financial regulation and the people managing their investments. For more information, visit www.ciro.ca.

SOURCE Canadian Investment Regulatory Organization (CIRO)

Media contact: Ariel Visconti, Senior Corporate Communications and Public Affairs Specialist, 416-526-8240, [email protected]