Canada – October 21, 2026 -- OBSI has completed two public consultations since 2022, on board governance and on investor loss calculations, and both trace back to its 2021 independent review.
Loss-calculation consultation closed Nov. 21, 2024 after a Sept. 26 launch
The consultation examined how OBSI calculates investor losses in complaints involving unsuitably sold illiquid exempt market securities. It described how the approach was developed, the feedback OBSI had received and the considerations for an appropriate methodology.
OBSI is using the exercise to test whether better alternatives exist to its current process. The 2021 independent expert external review recommended the consultation.
Governance review ran Nov. 1, 2022 to Jan. 31, 2023
The 2021 review called for a strategic review of OBSI's governance structure. The aim was to determine how best to build key stakeholder interests into board membership and decision-making.
The consultation focused on how the board can consider perspectives from stakeholders with financial services industry expertise and consumer advocacy expertise.
Professor Poonam Puri leads two separate independent reviews
As previously announced, Puri is leading independent reviews of OBSI's operations and practices under its banking and investment-related mandates.
OBSI also ran a public consultation in 2018 on modernizing its Terms of Reference, with the goal of making them easier to use and current.