Regulatory Alerts2019-08-15
CSA Staff Notice 31-355: OBSI Joint Regulators Committee Annual Report for 2018
The Canadian Securities Administrators, IIROC, and MFDA jointly published this notice to report on the 2018 activities of the Joint Regulators Committee overseeing the Ombudsman for Banking Services and Investments. The Committee monitored systemic issues, observed a decrease in settlements below OBSI recommendations, and reviewed OBSI's strategic initiatives including a new plain language initiative and updated terms of reference. Additionally, the regulators discussed the ongoing independent evaluation of OBSI and decided to continue monitoring current practices before considering a framework for binding decisions.
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