Stakeholder Announcements

OBSI is honoured to host financial services ombudsmen from around the world at the 2024 annual conference of the International Network of Financial Services Ombudsman Schemes (INFO Network), which is taking place in Toronto from September 29 to October 2, 2024.

September 26, 2024 – The Ombudsman for Banking Services and Investments (OBSI) is now seeking input from stakeholders and the public in relation to our approach to calculating investor losses in cases involving unsuitable sales of illiquid exempt market securities. This consultation is focused on assessing the process we currently use and helping us determine whether there are better alternative approaches we should adopt in such cases. This consultation was recommended in our 2021 independent expert external review. OBSI remains committed to improving its approaches and practices wherever possible.

We are pleased to announce the launch of our refreshed website. This update brings a contemporary design and user experience to OBSI.ca, making it easier and more intuitive for consumers and firms to access the information and tools they need.

We will soon be launching a search for two qualified professionals to join our Board of Directors to fill one current and one expected vacancy. The positions to be filled are for one Industry Director and one Consumer Interest Director. To ensure an open search process and that we are able to identify the best candidates, as part of our search process, we will engage with industry associations and consumer advocacy groups for potential candidate recommendations.

November 1, 2022 - As first announced on August 25, the Ombudsman for Banking Services and Investments (OBSI) is now seeking input from stakeholders and the public in relation to its organizational governance. This consultation is focussed on understanding how OBSI’s board can best ensure that it has the opportunity to consider the perspectives of stakeholders with financial service industry expertise and consumer advocacy expertise in its decision making. OBSI is committed to ensuring a deep knowledge of these perspectives at the board level because they are crucial to ensuring that the organization is able to continue to fulfil its mission of helping to ensure a fair, effective and trusted financial services sector. OBSI’s last public consultation on governance reform took place in 2012.

October 26, 2022 - Today, OBSI provided its response to the recommendations included in the 2021 independent evaluations of its investment and banking mandates.

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.

OBSI’s Board of Directors is pleased to announce the appointment of Professor Poonam Puri to lead external reviews to evaluate OBSI’s operations and practices for both banking-related and investment-related complaints.

OBSI’s Board of Directors is pleased to announce two recent appointments to the board and one to the Consumer and Investor Advisory Council (CIAC).

OBSI’s Board of Directors is pleased to announce two appointments to the Consumer and Investor Advisory Council (CIAC).