Posted on Tuesday, October 17, 2023 04:58 PM
Toronto, October 17, 2023 – In a significant development today, the Honourable Chrystia Freeland, Deputy Prime Minister and Minister of Finance, announced that the Ombudsman for Banking Services and Investments (OBSI) has been selected as the single external complaints body for Canada, with the mandate to investigate and resolve complaints between Canadian banks and consumers. OBSI welcomes this decision that recognizes our organization’s 27-year track record of impartiality, expertise, and...
Posted on Thursday, October 12, 2023 04:23 PM
How OBSI fees are determined
As a not-for-profit organization, OBSI recovers all of its budgeted operating expenses from its participating firms each year. OBSI's budget and the allocation of this budget between the different industry sectors that use OBSI's services is approved by OBSI's Board of Directors each September. Our board also considers fairness and the impact of fee changes on member firms when setting fees. A guiding principle is that no sector or registrant category should...
Posted on Thursday, September 28, 2023 01:51 PM
Read OBSI's latest newsletter featuring our Q3 case statistics, an RESP case study, an approach about how OBSI deals with investment transfer delay cases, and our latest consumer bulletin on fraud.
Posted on Tuesday, September 12, 2023 10:00 AM
What you need to know
Financial fraud is rising – we all see reports of it every day in the news and our social media feeds, but it can be difficult to appreciate the risks and impacts of fraud when we have not had first-hand experience. It is important for everyone to understand how financial frauds take place and how to remain vigilant for ourselves and our loved ones. Opting out of financial services is not possible – these services are an essential part of managing our money and securing our financial...