News

The Ombudsman for Banking Services and Investments (OBSI) has released its Annual Report for 2017.

OBSI’s Board of Directors is pleased to announce the selection of a new Chair, Jim Emmerton.

Read OBSI's latest newsletter for information about the Firm Information Service pilot extension, a CSA staff notice, 2017 statistics and more.

In December 2010, Mr. B got a five-year fixed closed term mortgage at a rate of 3.44% with his bank. In 2013, midway through the term, the branch manager suggested switching to a “blend and extend” mortgage. This would reduce the interest rate by 0.22% but extend the maturity date to 2018.

Canada's Ombudsman for Banking Services and Investments (OBSI) announced today that it has launched a new, accessible and more user-friendly website.

On November 1, 2017, OBSI launced a three-month long pilot project of the Firm Information Service (FIS) to all participating firms. The service will provide information about OBSI's experiences and approach in order to help firms fairly and effectively resolve complaints.

Read OBSI's latest newsletter for a message from Sarah Bradley, Ombudsman and CEO, details on the Firm Information Service pilot, Q3 statistics and more.

In late 2014, Mr. and Ms. J inquired about a non-arm’s length mortgage (NALM) at their bank. A NALM is where you lend money from your registered savings plans or locked-in savings plans to yourself as an individual or as a co-borrower with someone who is related by blood or marriage. 

Members of the OBSI staff volunteered to participate in this year's Terry Fox run which took place across Canada on September 17, 2017. Staff worked together to raise funds in support of cancer research.

Mr. and Ms. S invested in an exempt market fund.  The fund was comprised of a pool of mortgages.  The fund experienced financial and management difficulties.  As a result a large number of investors tried to sell their shares causing the value of the fund to plummet.