News

Consumers who open online investing accounts (also known as discount brokerage or “order execution only” accounts) are responsible for reviewing all account agreement terms and conditions, making their own trades, and monitoring their account activity.

In light of recent events relating to concerns about the spread of the COVID-19 virus, including extended school closures and large event cancellations across the country, OBSI will be taking a number of measures to protect the health and safety of our staff and to participate in broader social efforts to reduce the spread of the virus.

The Ombudsman for Banking Services and Investments (OBSI) has released its Annual Report for 2019.

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

In December 2010, Ms. R was 60 years old, had been retired since 2008, and had been divorced for several years. Between 2008 and 2010, her annual income averaged $17,500. She owned her home that was valued at $352,000 and had $100,000 in investable savings. Her investment objective was to generate income from her investment portfolio to supplement her income.

Toronto, February 19, 2020 – Today, the Financial Consumer Agency of Canada (FCAC) released its review of bank complaint handling procedures and of the operations of external complaints bodies (ECBs), which included the Ombudsman for Banking Services and Investments (OBSI).

Effective February 1, 2020 our new address is

Read OBSI's latest newsletter for information on our community outreach, approach to our six year limitation period, our stats for fiscal 2019 as well as Q4, and more.

In September 2004, Mr. D returned to school with the intention to complete his studies by April 2005. Like many post-secondary students, Mr. D needed help to pay for his education, and in 2004, he took on both federal and provincial student loans through the Ontario Student Assistance Program (OSAP).

Romance and employment scams are the most common online scams we see at OBSI. According to the Canadian Anti-Fraud Centre, Canadians lost more than $22.5 million to romance scams and more than $5 million to employment scams in 2018.