Archive for June, 2010

New Investment Rules Offer Opportunities

June 15th, 2010

Key investment, banking, and securities organizations are realigning their internal procedures to satisfy new complaint-handling rules designed to give investors and customers access to straightforward and expeditious dispute resolution.

Likewise, service providers are offering revamped programs and considering higher award limits in order to meet the requirements of the new regimes.

As of Feb. 1 of this year, clients of the investment industry must comply with new complaint-handling rules issued jointly by the Investment Industry Regulatory Organization of Canada (IIROC) and the Mutual Fund Dealers Association of Canada (MFDA) and echoed in the new terms of reference issued by the Ombudsman for Banking Services and Investments (OBSI).

In an attempt to ensure consistency between dealer members, those organizations have implemented a common complaint-handling framework that imposes standards and time lines.
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