Federal Action to Protect Financial Consumers Email Contact for OBSI Governance Reform
G20 Continues Work on Financial Consumer Protection Initiative • Media Coverage of OBSI • Canada-Wide Commitment to Persons with Disabilities
The Ombudsman for Banking Services and Investments (OBSI) today published its 2011 Annual Report.
Governance Reform Investment Suitability Complaints Methodology Stuck Cases
A small business owner, Mr. D, kept his business chequebook in a locked cabinet behind a counter at his office. He was the only person who had access to the cabinet.
In early 2007, Ms. F was referred to a new investment advisor by a friend. At the time, she was 63 years old and retired. Between February and May, 2007, she invested a total of $470,000 in growth-oriented mutual funds.
In 2005, Mr. and Mrs. N were 57 and 77 years old respectively, retired, and had combined household annual income of about $20,661. They were experiencing financial difficulty and having trouble paying their expenses. Their son introduced them to his advisor by telephone, hoping he could provide advice on how his parents could manage their finances.
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