FMB's Submission to the OBSI Governance Review

The First Nations Financial Management Board (“the FMB”) is pleased to provide the Ombudsman for Banking Services and Investments with comments on the 2023 Governance Review.

The OBSI should strive to identify and meet their obligations under United Nations Declaration on the Rights of Indigenous Peoples and under their public interest mandate. One simple and concrete measure in this regard is to include at least one mandatory spot for an Indigenous person on their Board of Directors.

Indigenous peoples are also constitutionally recognized by Canada, having aboriginal and treaty rights. We are not stakeholders – we are rightsholders. We have a public interest expectation to be included in the public dialog of Canada, just as space is made for Quebecois on public and private boards across Canada.

In short, the public interest requires Indigenous people on OBSI’s board.

FMB's Submission to the OBSI Governance Review