Toronto, September 1, 2022 – Today, the Ombudsman for Banking Services and Investments (OBSI) released the results of its 2021 independent evaluation of its operations and practices for banking related complaints. OBSI undertakes independent expert evaluations of its operations every five years.
August 25, 2022 - The Board of Directors for the Ombudsman for Banking Services and Investments (OBSI) announced that it has begun a strategic review of its governance structure with plans for public consultation in the late fall.
Read OBSI's latest newsletter featuring news about case volumes rising, investor decisions during market volatility, changes to the Bank Act, and more.
OBSI’s Terms of Reference have recently been updated to reflect changes to the Bank Act consumer protection framework that came into force on June 30. The Bank Act now requires federally regulated banks’ internal dispute resolution process to deal with a consumer’s complaint within 56 days (previously it was 90 days).
All investors should understand that higher potential investment returns come with a higher risk of investment losses, but most people find it much easier to consider potential investment gains than to deal with investment losses. Before committing to any investment plan with medium-to-high expected returns, consider: If your investments were to lose half their value, how would you feel? How would your short- and long-term financial well-being be impacted? Could you stick to your plan? Discuss these issues with your advisor to help them understand your risk tolerance.
Toronto, June 13, 2022 – Today, the Ombudsman for Banking Services and Investments (OBSI) released the results of its 2021 independent evaluation of its operations and practices for investment related complaints. OBSI undertakes independent expert evaluations of its operations every five years.
Read OBSI's latest newsletter featuring news about cases declining during the first quarter, the publication of our 25th anniversary report and our 2021 annual report, our response to IIROC's request for comment, and more.
Toronto, April 8, 2022 – The Board of Directors for the Ombudsman for Banking Services and Investments (OBSI) welcomed the Federal Government’s decision to establish a single, not-for-profit ombudsman for federally regulated banks announced in yesterday’s budget.
Toronto, March 31, 2022 – The Ombudsman for Banking Services and Investments (OBSI) has released a report to commemorate 25 years of financial services ombudsmanship in Canada and to reflect on the organization’s growth, accomplishments, and challenges since opening its doors in 1996.
Toronto, March 15, 2022 – The Ombudsman for Banking Services and Investments (OBSI) released its 2021 Annual Report.
“The past year marked a number of significant milestones for OBSI,” said Sarah Bradley, Ombudsman and CEO, OBSI. “We successfully managed the highest case volumes we have experienced in our 25-year history.
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