Investors who lost in 2008 can lose again

Many investors lost money in 2008. If it was due to wrongdoing they may have cause for civil action. However the statute of limitations has been reduced from six years to two years in most provinces. Therefore many vicitms of wrongdoing could be statute barred if they fail to take action within the two years from the cause of the loss.

If you try to resolve your dispute by dealing with the industry complaint handling process you could spend considerable time, and risk being statute barred from taking civil action should you be unable to satisfactorily resolve your dispute. SIPA continues to advise members to seek legal advice prior to taking any action to resolve a dispute with industry and regulators.

If you lost money in 2008 you could be reaching the end of your limitation period. You will need several months to initiate a civil action, so don't wait until near the end of your two year period.

For additional information on limitation periods and getting your complaint resolved visit SIPA's website at http://www.sipa.ca/.