CONVERIUM CAPITAL INC.
COMPLAINTS POLICY SUMMARY
The following is a summary of the Complaints Policy maintained by Converium Capital Inc. (“Converium”) in its capacity as a registrant in certain provinces of Canada.
Nature of complaints
A “complaint” means any statement, written or verbal, of a customer or any person acting on behalf of a customer alleging a grievance involving the activities of Converium or its employees in connection with the solicitation or execution of any transaction or the disposition of securities or funds of that customer. Complaints can also include, but are not limited to, statements concerning investment advice, unsuitable recommendations, misrepresentations, misappropriation, or other inappropriate acts, as well as claims of failure to provide requested or required services. Sales practice complaints are statements from a client that express a grievance concerning the sales process and/or product performance or alleged misconduct of Converium or any employee in the sales or investment process. Service and operational complaints are statements from a client that express dissatisfaction with a service transaction that Converium provides.
Converium maintains a complaints policy consistent with the requirements of applicable law and regulation, including the Derivatives Act of Quebec. Converium’s Chief Compliance Officer keeps a complaint log related to all written or verbal complaints that contains files relevant to each complaint received by Converium.
Complaints are reviewed and investigated by Converium’s Chief Compliance Officer, it is this person’s responsibility to review and investigate such complaint. The receipt of a complaint will be acknowledged in writing or verbally in timely fashion to the complainant, and the results of the investigation will generally be provided to the complainant.
The nature of the complaint will determine the course and extent of the investigation. In general, the Chief Compliance Officer will review the complaint and seek such additional documentation or information as he deems necessary to fully investigate the complaint and determine how best to resolve the complaint.
The procedure for addressing complaints will vary depending on a number of factors, and is more fully described in Converium’s Complaints Policy. Converium will arrive at a decision regarding any action or inaction that it will take or not take in respect of each complaint, and will communicate that decision in writing to the complainant within 60 calendar days from the date that the complaint is initially received by Converium.
Client complaints arising in Québec
With respect to any client complaint from a client resident in Québec, Converium complies with sections 168.1.1 to 168.1.3 of the Securities Act (Québec) (the “QSA”) and will thereby be deemed to comply with the requirements of NI 31-103.
Each complainant will be informed, in writing and without delay, that a complainant may, if dissatisfied with the complaint examination procedure or its outcome, request Converium to forward a copy of the complaint file to Quebec’s Autorité des marchés financiers (the “AMF”). Where requested by a complainant, Converium shall forward a copy of the complaint file to the AMF. The AMF shall examine the complaint and may, if it considers it appropriate, act as a mediator if the parties agree, pursuant to section 168.1.3 of the QSA.
Client complaints arising outside of Québec
With respect to any client complaint from a client outside of Québec, Converium has, in accordance with NI 31-103, designated the Ombudsman for Banking Services and Investments (“OBSI”) as the independent dispute resolution or mediation services made available, at Converium’s expense, to a client to resolve a complaint made by the client about any trading or advising activity of Converium or one of its representatives.
If a complainant makes a complaint to Converium about any trading or advising activity of Converium or one of its representatives, Converium will as soon as possible inform the complainant of how to contact OBSI and use its dispute resolution or mediation services which are provided to Converium’s clients. Converium will also make the complainant aware that Converium will pay for these services.