OBSI-ToR-Comment-Letter-for-FAIR-Canada- Final to OBSI

November 29, 2010 Mr. Tyler Fleming Director, Stakeholder Relations and Communications Ombudsman for Banking Services and Investments (OBSI) 401 Bay St. Suite 1505, P.O. Box 5 Toronto, ON, M5H 2Y4 Sent via email to: tfleming@obsi.ca RE: Request for Comment – Proposed Revisions to OBSI Terms of Reference 1. Introduction 1.1. We are pleased to provide you with the following comments of the Canadian Foundation for Advancement of Investor Rights (FAIR Canada), in response to the request for comment (“RFC”) on the proposed revisions (the “Proposed Revisions”) to OBSI's Terms of Reference (the “Terms of Reference”). 1.2. FAIR Canada is a non-profit, independent national organization dedicated to representing the interests of Canadian investors. FAIR Canada’s mission is to be a voice for investors in securities regulation and a catalyst for the enhancement of the rights of Canadian shareholders and retail investors. Please visit www.faircanada.ca for more information. 2. Specific Comments about Proposed Revisions 2.1. In general, we agree with the Proposed Revisions. In particular, we support the revisions that are truly of a housekeeping nature (that is, the proposed revisions to sections 8(b)(ii), 8(c), 17(c), 17(d), 18, and 27). We have additional comments to make regarding the proposed revisions to section 26, and we have a minor comment regarding the wording of section 27. We would also like to provide general comments regarding ...