OSBSO.org is a private-sector organization and functions an industrial ombudsman/person, also known as a private ombudsman/person or commercial ombudsman/person to help individuals or organizations (concerned part) who are concerned that they have been negatively affected (financially or otherwise) in matters related to non-bank, non-institutional, non-syndicated, non-regulated or regulatory exempt, free trading securities and related financial securities; also known as Peer-to-Peer (P2P)/Private/Crypto/Secret/Shadow securities and related financial securities; also known as "shadow banking services".
OSBSO.org provides the necessary research and opinion as to whether a shadow banking service conformed to applicable statutory, regulatory or process requirements, so that the concerned party may choose to retain legal counsel or lodge a regulatory complaint or seek redress or resolution directly from the service provider.
Ombudsman/person institutions are important; and recognized by the United Nations: UN resolution on ombudsman institutions (Source)
OSBSO.org is a private organization that operates as a private ombudsman or commercial ombudsman or industrial ombudsman as described in
According to the Forum of Canadian Ombudsman; in Canada, ombudsman/person generally [emphasis added; OSBSO.org is a private or commercial or industrial ombudsman/person] operate under three types of mandates (Source):
OSBSO.org services are delivered on a fee-for-service or cost-recovery basis to those making the complaint or seeking services. Any non-regulated firm in the financial services industry sub-sector is eligible to join OSBSO.org.
Why is there a cost to OSBSO.org's services; aren't all financial sector ombudsman/person services free of cost to complainants?
The answer depends on the country in which you are located, or jurisdiction where the alleged non-conformity occurred. Yes, many countries have ombudsman services for the financial sector for REGULATED organizations. Shadow banking sector participants are NOT REGULATED, so are not subject to the same stringent rules as their regulated counter-parts. For example, shadow banking entities are not required to maintain ombudsperson's, whose services are normally paid for by the member entity pursuant to law. This is primary reason - among other reasons - that most countries do have provisions in place to help individuals and corporations who are subject to problems with a shadow banking financial services provider; until now, with OSBSO.org.
Domicile for all international or domestic (Canadian) inquiries:
Membership is open to qualified bodies. Email info@osbso.org to learn more.
OSBSO™ Trademarks and Trade Dress may only be published on a member or 3rd party website with prior written approval from OSBSO.org.
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