CSA provides update on binding dispute resolution

TORONTO – The Canadian Securities Administrators (CSA) is providing an update to interested parties on the status of its work to introduce binding authority for an independent dispute resolution service.

On November 30, 2023, the CSA issued for comment a proposed regulatory framework for an independent dispute resolution service – anticipated to be the Ombudsman for Banking Services and Investments (OBSI) – whose decisions would be binding. The comment period closed on February 28, 2024, and the CSA has been reviewing the responses it has received.

As work continues on introducing binding authority, the CSA plans to issue a further publication for comment in the second half of 2025 that includes the CSA’s proposed approach to oversight.

The CSA, the council of the securities regulators of Canada’s provinces and territories, coordinates and harmonizes regulation for the Canadian capital markets.

The British Columbia Securities Commission did not participate in this media advisory due to publication restrictions related to the B.C. provincial election.