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JRC to look at expanding OBSI’s powers

The dispute-resolution service says in its new strategic plan that it wants to implement a new approach to enforcing compensation recommendations

OBSI plans to improve resolution process

Although the dispute-resolution service supports most of an independent reviewer’s recommendations, it rejects a couple of big ones

OBSI plans to improve resolution process

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

  • By: Neil Gross
  • June 13, 2016 December 15, 2017
  • 05:00
OBSI plans to improve resolution process

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

The purpose of the evaluation is to determine whether OBSI is fulfilling its obligations as a dispute resolution service for the investment industry