OBSI e-News

  Key learnings: The sale of short-term binary options has been banned in Canada and Mastercard and Visa have blocked binary option payments. However, investors in Canada are still able to purchase these offerings using other means and through other jurisdictions.
Purchasing binary options from outside Canada leaves consumers with few opportunities to recover their money if something goes wrong.
Be very cautious about purchasing investments based solely on online...
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As you may have heard, fraudsters recently claimed to have access to the personal and account information of some BMO and Simplii Financial clients. You can read BMO’s statement here and Simplii’s here .
Both banks have said that they will fully reimburse customers for any financial impact of any unauthorized transactions.
The banks are investigating these claims and reaching out to potentially affected customers and the Office of the Superintendent of Financial...
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OBSI is pleased to announce the launch of our newly updated  Consent Letter  and  What to Expect document .   Our Consent Letter is the document that consumers sign to allow us to begin investigating their complaint. In this letter, the consumer gives their permission for us to exchange information about them and their complaint with the firm involved and sometimes with another person if they have someone helping them with their complaint.   The consent...
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Read OBSI's latest newsletter for information about the Terms of Reference public consultation, Firm Helpdesk launch, Q1 statistics and more.

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The Ombudsman for Banking Services and Investments (OBSI) is seeking public comment on its updated Terms of Reference (TORs). OBSI continuously strives to build its reputation as Canada’s trusted, independent financial ombudsman, acting as an impartial and fair investigator of banking and investment related complaints.    Making the Terms of Reference easier to use and current  In developing its 2017-2021 strategic plan, OBSI identified key initiatives that...
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