News

The Ombudsman for Banking Services and Investments (OBSI) is pleased to announce that our Board of Directors has approved changes to update and modernize the organization’s Terms of Reference (TORs) following a comprehensive public consultation process.

OBSI underwent a public consultation process in 2018 on the modernization of its Terms of Reference in order to make them easier to use and current.

December 12, 2018

Via email

Ms. Lucie Tedesco

Financial Consumer Agency of Canada

Read OBSI's latest newsletter for takeaways from the INFO Network conference, an update on our Terms of Reference, year end case statistics and a new case study.

In early 2016, Mr. and Mrs. J noticed that their bank had not taken the regularly scheduled mortgage payments from their account. The couple had diligently paid their mortgage on time for the past 5 years. When they noticed the discrepancy, they immediately contacted the bank to address the issue.

When Canadians have disputes they are not able to resolve with their banks, they depend on access to an impartial, transparent and public-service focussed ombudsman they can trust to help them understand their situation and try to find a fair resolution to their problem.

Read OBSI's latest newsletter for our public policy submissions, new initiatives and approaches, case statistics and more.

Binary options are a very high-risk investment that Canadians should avoid. It is like a placing an all or nothing bet on the performance of an underlying asset.

Ms. G sold her home in 2015. She had no investment experience. She had recently been introduced to a financial advisor by a mutual friend. Ms. G decided to invest the proceeds of the sale of her home with the advisor’s firm.

TORONTO, Ontario, June 28, 2018 – The Ombudsman for Banking Services and Investments (OBSI) has released its comments regarding the Canadian Securities Administrators (CSA) proposed rules for financial advisors.