The Canadian Securities Administrators and the Joint Regulators Committee issued a statement after the release of the independent evaluator’s report on the Ombudsman for Banking Services and Investments. They said the report’s findings will feed into the CSA’s work on a proposed framework for an independent dispute resolution service with binding authority, while reiterating support for OBSI’s current role in handling disputes for investors and market participants. The committee said registrants are expected to participate in OBSI’s services in a way that is consistent with their obligation to deal fairly, honestly and in good faith with clients. It will continue meeting with OBSI staff and plans to meet OBSI’s board later in the year to discuss the report, its findings and recommendations, and OBSI’s views, before considering potential next steps. The statement also notes that, since 2014, registered dealers and advisers outside Québec have been required under National Instrument 31-103 to offer OBSI’s services, with oversight and periodic independent evaluations set through a memorandum of understanding.
Canadian Securities Administrators2026-07-22
Canadian Securities Administrators say OBSI evaluation will inform proposed binding dispute resolution framework
The Canadian Securities Administrators and the Joint Regulators Committee said the independent review of OBSI will help inform the CSA’s proposed framework for a dispute resolution service with binding authority. They also reiterated that registrants are expected to engage with OBSI consistently with their duty to deal fairly, honestly and in good faith with clients. The committee will review the report further and meet OBSI’s board later this year.