The Autorité des marchés financiers says that financial firms have until April 28 to report any complaints received during the period from July 1 to December 31, 2005, as the consumer complaint declaration function in the Complaint Reporting System is now available.

The AMF notes that in future, firms will have to report complaints received in this period by the end of January. The delay granted for 2005 is exceptional, it says, and subsequent declaration dates will follow the original semi-annual timetable. Complaints received during the period from January 1 to June 30 of this year, must be reported no later than July 30; and, complaints received during the period from July 1 to December 31, must be reported no later than January 30, 2007.

Independent representatives are not required to report complaints received in 2005. Only complaints received starting in January 2006 must be entered in the new system and reported based on the frequency previously determined, the AMF adds. Independent representatives must therefore make their first declaration no later than July 30.

The AMF together with the Financial Services Commission of Ontario launched the Complaint Reporting System on October 11, 2005. By using this Internet-based system, financial products and services companies can better fulfill their obligation to report complaints from consumers, it says.