February 16, 2023

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“In our view, appointing one director to represent the interests of consumers is a tall order for any individual. Furthermore, it suggests the responsibility for representing such interests lies with only one director. We believe all directors share the responsibility of considering the interests of consumers – one of OBSI’s core stakeholder groups.” #faircanada
As part of its commitment to transparency and accountability, the Ombudsman for Banking Services and Investments (OBSI) sought public feedback on its approach to governance. Building on a consistent record of good governance, the Board sought input on how to further strengthen its approach. FAIR Canada recommended a few enhancements, including eliminating the special rights that the industry has to nominate OBSI directors, and strengthening the definition for who is considered to be independent of the industry. Read FAIR Canada’s full response:
#Investing #InvestorComplaints #InvestorRights #Finances #Governance