The Investment Industry Regulatory Organization of Canada (IIROC) is seeking candidates from investment dealers to sit on the board of the Ombudsman for Banking Services and Investments (OBSI), the self-regulatory organization announced on Tuesday.
OBSI resolves disputes between participating banking services and investment firms and their customers.
IIROC is entitled to nominate one individual for election to the OBSI board of directors.
The SRO uses an open selection process to identify potential industry nominees for OBSI’s board. “Under our process, we solicit interest from the industry by public notice from time to time, prior to vacancies becoming available,” IIROC says in a notice published Tuesday.
IIROC plans to choose a short list of prospective candidates at its board meeting in November, and OBSI will then choose a nominee from the short list. Board members can serve up to two four-year terms.
The SRO is calling for applications from dealer employees that have “significant management and retail experience.”
Applications to IIROC are due by Oct. 15.