Ms. Chang has a grievance with her mutual fund representative regarding a recommendation that led to significant losses in her portfolio. After attempting to resolve the issue directly with the firm's internal complaint handling process, she is still unsatisfied with the outcome. What is Ms. Chang's next recourse for an impartial review of her complaint?

Question: Ms. Chang has a grievance with her mutual fund representative regarding a recommendation that led to significant losses in her portfolio. After attempting to resolve the issue directly with the firm's internal complaint handling process, she is still unsatisfied with the outcome. What is Ms. Chang's next recourse for an impartial review of her complaint?

Answer options:

• Initiate a claim with the Canadian Investor Protection Fund (CIPF).
• File a report with the local police department. ✅ Submit her complaint to the Ombudsman for Banking Services and Investments (OBSI).
• Contact the provincial securities regulator directly to demand a refund.

Correct answer: Submit her complaint to the Ombudsman for Banking Services and Investments (OBSI).

Explanation: If a client is not satisfied with the firm's internal complaint resolution, the Ombudsman for Banking Services and Investments (OBSI) is the independent body that can investigate customer complaints against financial services providers, including mutual fund dealers, free of charge to the client.