OBSI News

The Ombudsman for Banking Services and Investments (OBSI) is pleased to provide our comments to the Ontario Capital Markets Modernization Taskforce (Taskforce) on certain proposals contained in the Taskforce’s recent consultation report.
Please click here to read our response.

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Toronto, August 27, 2020 - The Ombudsman for Banking Services and Investments (OBSI) today announced the refusal of WealthTerra Capital Management (WealthTerra) to compensate an investor $50,810 for losses caused by WealthTerra’s sale of unsuitable investments in high-risk exempt market securities.
WealthTerra is an exempt market dealer based in Alberta.
In 2011, Ms. X was recently divorced and living full-time with her two young children. She was self-employed...
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Toronto, July 10, 2020 – OBSI’s Board of Directors welcomes the proposal of Ontario's Capital Markets Modernization Taskforce to give OBSI the power to require investment firms to pay fair compensation to harmed investors when warranted, and increase the limit on OBSI’s compensation recommendations.
We appreciate that multiple investor interest organizations including the Canadian Association for Retired Persons (CARP), The Foundation for the Advancement...
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Read OBSI's latest newsletter for updates on our service and outlook during the COVID-19 pandemic, two new approaches, our stats for this quarter, and more. Click here to read OBSI e-News: Q2/2020

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Where we are today Like all our stakeholders, at OBSI we are working hard to continue to deliver our services and fulfill our mandate during the COVID-19 pandemic, and we are closely monitoring the challenges and events affecting our business environment. We are pleased to report that all of our staff are working effectively and efficiently from their homes during the emergency and we have been able to continue to provide our services effectively and without any interruption.
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