Firm Bulletins

Firm Bulletin: 2021 fees for participating firms

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 on the proportion of OBSI resources...

Tips for resolving client complaints

Recent financial market turmoil has created an exceptionally challenging environment for financial firms and their customers. Past market downturns have demonstrated that in such difficult times, consumer complaints increase, placing an additional strain on firm resources. If history is any guide, you may find your firm dealing with unusual and unexpected complaint volumes. The purpose of this resource is to provide you with information to help your firm resolve these complaints as effectively as...

Firm Bulletin: Helping RESP consumers avoid withdrawal mistakes

As students head to college or university, financial services firms can expect visits from parents and students planning to make Registered Education Savings Plan (RESP) withdrawals, but this process is not straightforward and can have consequences that many consumers do not expect. In recent years, we have seen many cases where costly RESP withdrawal mistakes could have been avoided. The purpose of this bulletin is to alert firms to these risks and identify actions to avoid them.

The process...