The regulatory committee aims to look at recommendations for giving OBSI binding powers
The dispute-resolution service says in its new strategic plan that it wants to implement a new approach to enforcing compensation recommendations
Although the dispute-resolution service supports most of an independent reviewer’s recommendations, it rejects a couple of big ones
The increase is attributed primarily to new processes that OLHI has implemented for assessing and handling complaints
Certain claims are best handled by OBSI; however, if the ombudservice were more balanced, it would result in a process that’s more transparent and fair
A new independent report makes it clear that binding decisions are needed for full and fair compensation
The Joint Regulators Committee has created a process for OBSI to report possible systemic issues to the regulators
Industry lobbyists feel that ombudsman favours investors
The dispute-resolution service reports that banking complaints rose by 21% over the past year while investment complaints dropped by 14%
Investment industry intransigence toward the dispute-resolution service has grown since the last independent review in 2011