The Ombudsman for Banking Services and Investments (OBSI) is hosting an information session for investors on proposed changes to its investment suitability and loss assessment methodology.
OBSI issued a consultation paper last year, which set out its process for assessing suitability and calculating losses in assessing investor complaints. Earlier this year, in response to the comments received on the paper, it proposed a number of changes to those processes. Now, it’s organizing a public information session on those processes.
The session, which is scheduled for June 14 in Toronto, will give investors the opportunity to ask questions, discuss the methodology, and provide feedback to OBSI staff. Pre-registration is mandatory by June 11. Investors should please email publicaffairs@obsi.ca or call Christina Vivani at 1-888-451-4519 ext. 2276.
OBSI notes that the event mirrors sessions being organized by the Investment Industry Regulatory Association of Canada and the Mutual Fund Dealers Association of Canada for their members, and it asks dealers to attend the sessions organized by their self-regulatory organizations, rather than the one for the general public.