What do you do if you have a complaint against a Market Participant such as your stockbroking company?
When do you lodge a complaint with your stockbroking company?
If your complaint concerns a commercial dispute between you and your stockbroking company or unsatisfactory service by your stockbroking company you should first lodge your complaint promptly with your stockbroking company. If you fail to receive a satisfactory response after follow-ups with your stockbroking company, you may consider lodging your complaint with SEM. If the matter is purely commercial, there may not be anything we can do. But if it involves a breach of our rules, we can consider an investigation of that matter.
When do you lodge a complaint with SEM?
Where a matter concerns possible improper conduct by your stockbroking company, for example, your broker had executed trades in your account without your approval, you may consider lodging your complaint with SEM.
You can send your complaint letter to SEM at:
Stock Exchange of Mauritius Limited
4th Floor, One Cathedral Square Building
Jules Koenig Street
Port Louis
When filing a complaint, please include the following information:
your name, address and contact numbers where you can be reached should we need to clarify your complaint with you;
the name of the brokerage firm and the individuals at the firm with whom you dealt;
a description of the alleged improper conduct; the date/dates when the improper conduct took place and the details of the transactions involved.
The focus of our initial investigation is regulatory in nature. If SEM is of the view that a breach of the Stock Exchange rules has occurred, we may commence disciplinary proceedings against the stockbroking company or take such action as permitted under our rules. However, our investigations do not necessarily result in compensation to you by the securities broker or the withdrawal of civil proceedings by the stockbroking company to recover amounts owing.
What should you do if you have information concerning specific instances of market misconduct?
If you have information concerning an instance of market misconduct, including information on insider trading or market manipulation, you can inform SEM by writing to:
Stock Exchange of Mauritius Limited
4th Floor, One Cathedral Square Building
Jules Koenig Street
Port Louis
It would be useful for our initial investigation if you can provide the dates of the alleged market misconduct, the securities concerned, and the names of parties involved and their relationships.
