Complaints Against Stock Brokers and Stock Dealers

The client is requested to read the documentation and agreements (client agreements, margin trading agreements and other terms or conditions etc.) provided by the broking company to ascertain whether there has been a breach/violation of the terms and conditions contained in the agreement. If the client believes that he has suffered a loss as a result of a breach/ violation of the terms of the agreement he must refer the matter in writing to the compliance officer of the Broker/Dealer Firm.

If the complaint has not been addressed in a satisfactory manner or the Broker Firm had delayed addressing the complaint for an unduly long time and if it appears that the Broker Firm is in breach of Member Regulations of the Colombo Stock Exchange (CSE), the complaint should be made to the CSE in writing. Such written complaint should be forwarded to CSE by filling the ‘Complaint Form’ issued by the CSE.
The Secretariat of the CSE will review and evaluate the complaint and the decision will be conveyed to the parties in dispute.

If the party is not satisfied with the decision made by the Secretariat such party may refer the matter to the Dispute Resolution Committee of the CSE for a review of the decision.
If the issue constitutes a breach of the SEC Act refer it to the SEC in writing. All documentation and facts relied upon should be attached to the written complaint.