News Release

SIMA encourages Canadian regulators to adopt revisions to the OBSI binding-authority framework, emphasizing harmonization and fairness

September 29, 2025 (Toronto) – The Securities and Investment Funds Management Association (SIMA) has submitted its comments to the Canadian Securities Administrators’ (CSA) proposal to enhance and refine the proposed binding-authority framework for the Ombudsman for Banking Services and Investments (OBSI).

In its submission, SIMA stressed the importance and benefits of a fully harmonized complaint-handling and dispute-resolution regime across all CSA jurisdictions, including Quebec, in order to provide Canadian investors and market participants with an effective, efficient, and credible dispute-resolution service.

“We support the CSA’s commitment to enhancing the effectiveness and fairness of investor dispute resolution. Achieving harmonization and transparency in binding decision authority is essential for Canadian investors and the health of our capital markets,” said Andy Mitchell, SIMA’s President and CEO. “We also continue to urge the CSA to establish a minimum 90-day comment period for all CSA proposals to ensure stakeholders have the time necessary to provide meaningful feedback, in support of the CSA’s regulatory initiatives in the future.”

About SIMA

SIMA empowers Canada’s investment industry and is the leading voice for the securities and investment management industry. The industry oversees approximately $4 trillion in assets for over 20 million investors and participates in the Canadian capital markets. Our members – including investment fund managers, investment and mutual fund dealers, capital markets participants, and professional service providers – are committed to creating a resilient, innovative investment sector that fuels long-term economic growth and creates opportunities for all Canadians.

For more information

Christine Harminc
Director, Communications and Public Affairs
charminc@sima-amvi.ca
416-309-2313