Consultation on loss calculation for involving unsuitably sold illiquid exempt market securities – OBSI response to comments received

In September 2024, OBSI launched a public consultation on our approach to loss calculations involving unsuitably sold illiquid exempt market securities, describing the development of our approach, feedback we had received on our approach, and relevant considerations for an appropriate loss calculation methodology. This consultation was recommended in OBSI’s most recent independent external review. In the consultation, we sought feedback from stakeholders on whether our approach was fair and reasonable, whether there were any alternative approaches we should consider, and how our methodology might be improved.  

The consultation period closed on November 21, 2024. We received 13 submissions from all key stakeholder groups, including consumers, investor protection advocates, participating firms and industry associations, reflecting a range of perspectives on our approach. We thank all commenters for their thoughtful contributions. The comments received during the consultation period have been published on our website. A summary of the comments we received, our responses and our resulting commitments are described in our response document.