OBSI – Consultation on Loss Calculation for Complaints Involving Unsuitably Sold Illiquid Exempt Market Securities

OBSI – Consultation on Loss Calculation for Complaints Involving Unsuitably Sold Illiquid Exempt Market Securities

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OBSI – Consultation on Loss Calculation for Complaints Involving Unsuitably Sold Illiquid Exempt Market Securities

Letter Summary:

The Ombudsman for Banking Services and Investments (OBSI) is seeking input from stakeholders and the public in relation to their approach to calculating investor losses in cases involving unsuitable sales of illiquid exempt market securities. This consultation is focused on assessing the process they currently use and helping them determine whether there are better alternative approaches they should adopt in such cases.

Overview of the Council’s Comments: