The CSA yesterday announced the adoption of amendments to NI 31-103 that will require registered dealers and advisers outside Quebec to make the services of the Ombudsman for Banking Services and Investments (OBSI) available to clients to satisfy their obligations to offer independent dispute resolution or mediation services. The AMF already provides a mediation service to clients of all registered dealers and registered advisers.

As we discussed in a post last year, the CSA released proposed dispute resolution requirements in November 2012, and the final amendments include non-material changes made in response to comments received. The amendments are expected to come into effect on May 1, 2014, with a transition period extending to August 1, 2014.