Case Studies


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Investors incur significant losses and seek compensation, believing themselves to be unsuitably invested in high-risk securities

Posted on Tuesday, November 10, 2020 09:30 AM

Key lessons:

  • Investment suitability is not determined on the basis of losses. Investment suitability is based on the risk profile of an investment at the time that advice about it was given.
  • Every investment has the possibility of gains and the risk of loss, and the amount of each is usually closely matched. The advisor’s role is to recommend suitable investments, but they cannot predict the future nor guarantee results.
  • Investors should monitor their investments and stay informed by reviewing their...

Bank errors when arranging a mortgage transfer lead to costly penalties for borrower

Posted on Monday, August 31, 2020 03:00 PM

Key lessons:

  • Financial institutions are responsible for financial harm caused by their own administrative errors and delays.
  • Consumers can protect themselves by ensuring that arrangements for time-sensitive transactions are finalized well in advance and carefully reviewing all paperwork to ensure it matches their expectations.

Consumer decides to transfer mortgage to a new lender

Mr. G held a mortgage at Bank A that was maturing. A few weeks before the maturity date, he met with a mortgage specialist...

Retired consumer targeted in text message scam

Posted on Wednesday, July 29, 2020 02:30 PM

Key Lesson:

Everyone is a potential victim of fraud and should take steps to protect themselves and their loved ones. Every day, fraudsters target consumers with elaborate scams that exploit familiar technology such as text and email. They use reasonable-sounding scenarios such as password resets, fraud alerts or prize draws to trick consumers into clicking links or disclosing personal information and passwords. Consumers should never provide banking or personal information to anyone who has contacted...

Senior with early signs of dementia gets into more than $68,000 of debt

Posted on Tuesday, June 23, 2020 09:30 AM

Key Lesson: 

Banks will not restrict a person’s access to their own money and credit until they have the required legal documentation to transfer control to someone else. It is important for everyone, but especially seniors, to plan ahead for how their finances will be taken care of if they need help.   

If a parent, relative or friend is no longer able to manage their finances and have trusted you to help: 

  • Set up a meeting with their bank to discuss your...

Investor incurs significant losses from unsuitable advice and excessive trading and accepts low settlement offer

Posted on Monday, May 11, 2020 11:45 AM

Key Lesson

OBSI is committed to conducting impartial investigations and recommending fair outcomes for both firms and consumers. When consumers escalate their complaints to OBSI, firms are obligated to participate in our process in good faith. Most firms do so and treat their customers fairly by complying with OBSI recommendations. However, sometimes firms choose not to comply and when that happens, consumers who have incurred losses have limited options and may accept unfair low settlement offers.


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