Regulatory Alerts2020-08-27
CSA Staff Notice 31-359: OBSI Joint Regulators Committee Annual Report for 2019
The Canadian Securities Administrators, IIROC, and MFDA jointly published this notice to report on the 2019 activities of the Joint Regulators Committee overseeing the Ombudsman for Banking Services and Investments. The Committee highlighted ongoing monitoring of complaint data, noting that approximately 7% of compensated cases were settled below OBSI recommendations, while no systemic issues were reported during the year. Key developments included regulatory amendments to align firm rules with OBSI's information sharing protocols and OBSI's launch of new initiatives such as a seniors report and a firm portal.
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