The Globe and Mail reports in its Wednesday edition that the decade-long battle to establish a binding regime for investment-related disputes in Canada is nearing its end. The Globe's Jameson Berkow writes that on Tuesday, the Canadian Securities Administrators (CSA) unveiled refinements to a new framework first proposed in late 2023 for the non-profit Ombudsman for Banking Services and Investments (OBSI). Currently, OBSI is only allowed to recommend that Canadians who have been mistreated by banks and investment companies receive up to $350,000 in compensation. Not only are companies free to simply ignore those recommendations under the existing framework, but investor and consumer advocates have long argued complainants are routinely shortchanged whenever they do receive compensation. "The reality is there are a significant number of lowball or low-offer settlements," Ontario Securities Commission chief executive officer Grant Vingoe told The Globe. "When you don't have a binding decision, and financial institutions are lawyered up, there is a significant amount of pressure to settle." The latest version of the proposed framework that would make OBSI decisions legally binding is open for public comment until Sept. 15.