A year ago, securities regulators seemed determined to finally push ahead with binding dispute resolution, which would force banks and dealers to compensate victims of adviser misconduct.
For well over a decade, binding dispute resolution has been discussed and studied, proposals shelved in the face of vigorous resistance. But OBSI is powerless to enforce its own decisions. Sometimes, albeit rarely, firms simply refuse to pay. Lowball offers are much more common. “It is difficult to confidently promote a service that is unable to assure and secure redress for consumers,” Deborah Battell, the former banking ombudsman for New Zealand, wrote in a 2016 review.
After the CSA laid out a framework for granting OBSI binding authority last November, the letters of protest still poured in.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Nigeria Nigeria Latest News, Nigeria Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
'Clearly targets the livestock industry': Alberta's beef with federal pandemic billAlberta's government and meat producers worry a bill about preventing and preparing for future pandemics could be harmful to the agriculture industry.
Source: CTVCalgary - 🏆 26. / 68 Read more »
Critics accuse Ford of indecision over LCBO paper bags, industry welcomes moveThe Ford government ordered the LCBO this week to look for a new paper bag supplier after the agency selected a Quebec-based company.
Source: GlobalCalgary - 🏆 50. / 61 Read more »
Real Estate Insiders Explore Industry’s Digital FutureSTOREYS is the leading real estate news site in the country, providing the most accurate and up-to-date coverage of the Canadian market.
Source: storeyspub - 🏆 16. / 74 Read more »
'We can't control them': Clothing recyclers frustrated by criminals operating in donation bin industryAn organization that represents clothing recyclers says they’re frustrated after a W5 investigation found a fake charity and some violent players connected to organized crime have been muscling in on the clothing donation bin industry, and is calling for governments to do more.
Source: CTVNews - 🏆 1. / 99 Read more »
Rising investor gold demand offsets lower jewellery buying in Q3, says industry bodyThe Kitco News Team brings you the latest news, videos, analysis and opinions regarding Precious Metals, Crypto, Mining, World Markets and Global Economy.
Source: KitcoNewsNOW - 🏆 13. / 78 Read more »
Loblaw says it would join with grocery industry in ending property controlsCanada’s biggest grocer says it wants to eliminate commercial property controls in the grocery industry.
Source: SooToday - 🏆 8. / 85 Read more »