Penson Financial Services Canada (PFSC) will send an acknowledgement letter within five (5) business days of receipt of any written complaint. PFSC’s acknowledgement letter will include the following key items:

• the name and contact information of the person in charge of handling your complaint;
• a reference to the 90 calendar day timeline to provide a response;
• a mention that the client may contact the Designated Complaints’ Officer to obtain a status update on the file;
• an explanation of PFSC’s policy for handling complaints;
• request for additional information, in order to investigate and resolve the complaint.

PFSC will advise the Investment Industry Regulatory Organization of Canada (IIROC) of all complaints received.

Upon completion of our investigation, we will provide a written report to the complainant within the 90 calendar days referenced in the acknowledgment letter. The investigation report will contain the following:

- a summary of the complaint;
- the results of the investigation;
- the final decision on the complaint including an explanation;
- the options available to the complainant if unsatisfied with PFSC’s response, and;
- a reference to the IIROC-approved brochure entitled “an Investor’s guide to making a Complaint”.

Should you not be satisfied with the review or the result of the review, consumers may seek the services of:

Ombudsman for Banking Services and Investments (OBSI) which offers a free and impartial service for resolving banking and investment disputes between member firms and the consumer. For more information on this option please see:

Website www.obsi.ca
Toll free 1.888.451.4519

or,

L’autorité des marché des marches financiers (“AMF”)
(For Quebec residents only)

At the complainant’s request, Penson will forward a copy of the complaint file to the Autorité des marchés financiers (“AMF”). The AMF will study the file and if the parties agree, may recommend mediation. For more information please see:

Website: www.lautorite.qc.ca
Toll Free 1.877.525.0337

All written complaints must be sent to:

Penson Financial Services Canada
c/o Designated Complaints Officer
Compliance Department
360 St-Jacques St. West, 11th Floor
Montréal, Qc
H2Y 1P5
compliance@penson.ca