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ARTICLE · 08 MAY 2014

CSA Publish Guidance On Implementing OBSI Dispute Resolution Mechanism

Stikeman Elliott LLP
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The CSA released guidance to assist registered dealers and advisers outside Quebec, who are now required to make the services of the OBSI available to clients.

CanadaCorporate/Commercial Law
The Securities Group
The Securities Group
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The Canadian Securities Administrators today released guidance to assist registered dealers and advisers outside Quebec, which are now required to make the services of the Ombudsman for Banking Services and Investments (OBSI) available to clients. As we discussed last year, amendments to National Instrument 31-103 Registration Requirements, Exemptions and Ongoing Registrant Obligations and its companion policy (collectively, the Amendments) now require that registered firms offer OBSI's services in order to satisfy their obligations to make independent dispute resolution or mediation services available to clients. Registered firms who are members of self-regulatory organizations will continue to be subject to their SRO's rules concerning complaint resolution.

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