[World Corporate Law News] CSA Proposes OBSI Oversight and Binding Powers for Investor Disputes

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  • Last Updated on 24 July, 2025

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OBSI investor dispute resolution

 

Editorial Team – [2025] 176 taxmann.com 735 (Article)

World Corporate Law News provides a weekly snapshot of corporate law developments from around the globe. Here’s a glimpse of the key corporate law update this week.

1. CSA consults on proposed oversight and process refinements for Investor Dispute Resolution

On July 15, 2025, the Canadian Securities Administrators (CSA), led by the Ontario Securities Commission (OSC), issued a consultation seeking feedback on proposed reforms to the dispute resolution framework for investor complaints involving registered firms. The key proposal is to formally designate the Ombudsman for Banking Services and Investments (OBSI) as the recognised dispute resolution service provider under a new oversight framework, while enhancing the fairness and independence of its processes.

In light of the proposal to grant OBSI binding authority, the CSA is introducing an oversight framework that aims to strike a balance between OBSI’s independence and the need for accountability.

“Introducing binding authority for investment complaints is important to ensure investors have the ability to seek access to an impartial, fair and efficient dispute resolution process, and to give more certainty to businesses over the outcome of claims,” said Stan Magidson, Chair of the CSA, and Chair and CEO of the Alberta Securities Commission.

The proposal will help modernise the structure of Canada’s capital markets and simplify the complaints process for both investors and businesses.

Further, in response to comments received during the 2023 consultation, the CSA is also proposing changes to the second stage review of the dispute resolution process for OBSI compensation recommendations for $75,000 or more. For these complaints, OBSI will be required to appoint external decision-makers to review its recommendation before reaching a final decision.

The CSA is inviting public comment on these reforms by September 15, 2025. Stakeholders are encouraged to submit their comments to the addresses in the notice and to their local securities regulator. Implementation of a final framework is dependent on the governments of many CSA jurisdictions passing enabling legislation.

Source – Official Announcement

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Author: Taxmann

Taxmann Publications has a dedicated in-house Research & Editorial Team. This team consists of a team of Chartered Accountants, Company Secretaries, and Lawyers. This team works under the guidance and supervision of editor-in-chief Mr Rakesh Bhargava.

The Research and Editorial Team is responsible for developing reliable and accurate content for the readers. The team follows the six-sigma approach to achieve the benchmark of zero error in its publications and research platforms. The team ensures that the following publication guidelines are thoroughly followed while developing the content:

  • The statutory material is obtained only from the authorized and reliable sources
  • All the latest developments in the judicial and legislative fields are covered
  • Prepare the analytical write-ups on current, controversial, and important issues to help the readers to understand the concept and its implications
  • Every content published by Taxmann is complete, accurate and lucid
  • All evidence-based statements are supported with proper reference to Section, Circular No., Notification No. or citations
  • The golden rules of grammar, style and consistency are thoroughly followed
  • Font and size that's easy to read and remain consistent across all imprint and digital publications are applied