OBSI News

Toronto, November 18, 2020  – OBSI announced the launch of a new  Consumer Portal  and improved online experience for consumers, our most recent investments in technology to help make the complaint process easier for consumers and give them convenient online access to their case details all in one place. With these new systems, consumers who prefer to interact with OBSI electronically will benefit from an improved experience and self-service options....
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Toronto, October 29, 2020 – The services of the Ombudsman for Banking Services and Investments (OBSI) are more likely to be accessed by lower- and middle-income Canadians than wealthier Canadians, according to the organization’s just released Report on Income and Canadian Financial Consumer Complaints . The report also found that the cases brought forward by these consumers are as likely to be resolved in their favour, and for as much financial compensation,...
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Read OBSI's latest newsletter for information on our recent firm refusal, case statistics, bulletins, regulatory news, and more. 
Click here to read OBSI e-News: Q3/2020 .

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How OBSI fees are determined
Participating firm fees are set annually by the OBSI Board of Directors in accordance with our corporate Bylaw. As a not-for-profit organization, participating firm fees fund all our operations and are set on a cost-recovery basis.
Each year, we establish a fee target based on our budget for the coming year and divide that fee target between the sectors of firms that use our service. The division of fees among the different sectors is based...
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Toronto, October 5, 2020  – The Board of Directors for the Ombudsman for Banking Services and Investments (OBSI) announced the appointment of a new chair of its independent Consumer and Investor Advisory Council (CIAC). Harold Geller has been appointed the new Chair of the CIAC. Harold is a lawyer who represents investors and insureds with claims against financial advisors, MFDA and IIROC representatives, insurance salespeople and their firms. He is a member of the...
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