Regulatory Alerts2023-11-30
CSA Notice of Consultation: Draft Regulation to Amend Regulation 31-103 for Binding Independent Dispute Resolution
The Canadian Securities Administrators propose amendments to Regulation 31-103 to grant binding authority to a designated not-for-profit independent dispute resolution service, likely OBSI. The draft framework requires registered firms to comply with final decisions issued by the identified ombudservice following an investigation and optional internal review stage. This regulatory change aims to enhance investor protection and market confidence by ensuring fair, accessible, and final redress for retail client complaints.
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