Introduction
RBC Investor Services (‘RBCIS’) aims to continually deliver the highest level of service to you, the client, and we treat any expression of dissatisfaction very seriously.
Should you wish to make a complaint, we will treat you fairly and are committed to investigating all complaints diligently and impartially. We shall seek to resolve any complaints received as soon as possible.
If a problem occurs, it is best to start where the issue originated. Save valuable time by collecting all the relevant information before you make your initial contact:
Assemble all supporting documents concerning your complaint, paying special attention to the date(s).
- Obtain the names of any employees that were involved.
- Be clear about the circumstances and determine what you would like us to do.
RBC Investor Services Trust, UK clients: Please note that specific complaint handling procedures apply in the UK. Clients contracted in the UK are encouraged to review the RBC Investor Services UK Complaints Handling Procedure on our UK Locations page.
RBC Investor Services Trust, Canada clients may follow the steps set out below.
How do I register a Complaint?
If you are dissatisfied with the level of service provided to you by RBCIS, you can make a complaint. Your complaint can be communicated by any medium, including by phone, letter, email or in person.
Who do I complain to?
Your complaint should be addressed to your usual relationship contact. Our employees are often able to resolve a complaint quickly and effectively if given the opportunity to hear from you.
Our complaints handling procedure
We maintain and operate a complaints handling procedure that reflects applicable regulatory requirements. All complaints and related relevant information are recorded on an internal log for tracking and internal reporting purposes.
What information does RBCIS need?
To assist us in dealing with your complaint we ask that you provide a clear description of your grievance. In addition, please ensure that you provide your name, account number[s], address, email address, contact telephone number[s] and details of anyone who may be contacted about the complaint in your absence.
How will RBCIS deal with my complaint?
Resolution of a complaint depends on the complexity of the issue[s] raised. RBCIS will respond to your complaint promptly and will ensure that you are kept reasonably informed about the progress of measures being taken for the complaint’s resolution. We will also endeavor to provide you with our proposed plan of action and our time frames for dealing with your complaint. Generally, we strive to:
Provide a written acknowledgement of your complaint within 24 hours of receipt (excluding non-business days).
Within one month, RBCIS will provide you with a final written response communication or send you a letter advising that the investigation is continuing.
Either letter will inform you about the option you have to appeal your complaint to the RBC Client Complaints Appeal Office, which is the most senior designated office appointed to address appealed complaints within RBC. If you choose to do so, we will forward your complaint on your behalf to the RBC Client Complaints Appeal Office.
RBC Client Complaints Appeal Office
Should you be dissatisfied with the outcome of the review performed by your RBC contact, you have the option to appeal your complaint to the RBC Client Complaints Appeal Office. The RBC Client Complaints Appeal Office is the most senior designated office appointed to address appealed complaints within RBC. If you choose to appeal your complaint, we will forward it on your behalf to the RBC Client Complaints Appeal Office.
If you escalate the matter to the RBC Client Complaints Appeal Office, the limitation periods for escalation to industry ombudsmen such as the OBSI or ADRBO , (if applicable), or commencement of a civil action continue to run while the RBC Client Complaints Appeal Office reviews your complaint. This may impact your ability to pursue a future civil claim. We advise you consult your legal counsel accordingly.
RBC Client Complaints Appeal Office is an internal office employed by RBC and is not an independent dispute resolution service. The RBC Client Complaints Appeal Office’s services are completely voluntary and free. The RBC Client Complaints Appeal Office can only review your concern after you have received a response from the RBC Company.
The estimated time that the RBC Client Complaints Appeal Office takes to review and provide a response to matters is within 90 days upon receipt of the complaint; however, complex investigations may take longer to resolve.
ADR Chambers Banking Ombuds Office
You may submit your unresolved concern directly to ADR Chambers Banking Ombuds Office (ADRBO) if you are not satisfied with the resolution offered by the most senior designated officer at RBC (the RBC Client Complaints Appeal Office). You have up to 180 calendar days to submit your complaint to the ADRBO after receiving a final response from RBC.
ADRBO is an industry ombudsman that operates independently from the participating banks. Its services are free of charge to those making the complaint. ADRBO is regulated as an External Complaints Body by the Financial Consumer Agency of Canada.
ADR Chambers Banking Ombuds Office
31 Adelaide Street East
PO Box 1006
Toronto ON M5C 2K4
Toll-free telephone: 1-800-941-3655
Toll-free fax: 1-877-803-5127
contact@bankingombuds.ca
www.bankingombuds.ca
Financial Consumer Agency of Canada
The Financial Consumer Agency of Canada (FCAC) supervises all federally regulated financial institutions to ensure they comply with federal consumer protection provisions. It also educates consumers and monitors industry codes of conduct and public commitments designed to protect consumer interests.
These consumer protection provisions cover a variety of operating practices that directly affect our clients. For example, financial institutions are required by law to provide consumers with information about their fees, interest rates and complaint-handling procedures.
Specific complaints made in writing will be assessed by the FCAC on a case-by-case basis to determine whether a federal consumer protection issue exists, and if so, what necessary action should be taken.
Regulatory complaints should be submitted in writing:
Financial Consumer Agency of Canada, Enterprise Building, 6th Floor 427 Laurier Avenue West, Ottawa, ON K1R 1B9 | Toll-free: 1-866-461-3222 | fcac-acfc.gc.ca
Autorité des marchés financiers
In Quebec, the Autorité des marchés financiers (AMF) is the regulatory body charged with administering the regulatory framework and providing review and mediation services.
If you reside in Quebec and you are not satisfied with the outcome or with the examination of the complaint, you may request that your complaint file be transferred to the AMF at any time. Following the transfer, the AMF will examine the file and, if deemed appropriate, may offer dispute resolution services. Please note that transferring your file to the AMF does not interrupt the prescriptive period for civil remedies.
Autorité des marchés financiers
Place de la Cité, Tour Cominar
2640 Laurier Boulevard, Suite 400
Quebec QC G1V 5C1
Telephone: 418-525-0337
Fax: 418-525-9512