News Releases

OBSI Launches New Five-Year Strategic Plan

Toronto, January 11, 2022 – Canada’s Ombudsman for Banking Services and Investments (OBSI) has released its 2022–2026 Strategic Plan.

“Our last strategic plan was a guide to keep us focused on important modernization activities and help us evolve as a resilient, efficient organization. Looking ahead, as we continue to weather the impacts of the COVID-19 pandemic, we see further opportunities to provide value to the consumers, firms, and regulators we work with,” said Sarah Bradley, Ombudsman and...

Maureen Jensen joins OBSI Board to become next Chair

Toronto, September 23, 2021 – OBSI’s Board of Directors is pleased to announce the appointment of Maureen Jensen to the board effective immediately. Ms. Jensen has also been selected to be nominated as the next Chair of OBSI’s Board of Directors at the next Annual General Meeting of the organization to be held in March 2022. Ms. Jensen will succeed Jim Emmerton, whose term as Chair will be coming to an end following 12 years of service.

Ms. Jensen has been a leader in the investment industry...

OBSI 2020 Annual Report released: consumer complaints increase in 2020

Toronto, April 29, 2021 – The Ombudsman for Banking Services and Investments (OBSI) has released its Annual Report for 2020.

“The challenges of 2020 were unprecedented for OBSI, as they were for people and organizations around the world, in the wake of the COVID-19 pandemic,” said Sarah Bradley, Ombudsman and CEO, “and I am proud of the outstanding performance of our organization through this difficult period. Our work for the year has taken place in the context of two overarching external challenges:...

Becksley Capital Inc. refuses to compensate investor for losses

Toronto, December 1, 2020 - The Ombudsman for Banking Services and Investments (OBSI) today announced the refusal of Becksley Capital Inc. (Becksley) to compensate an investor $33,055 for losses caused by the firm’s sale of unsuitable investments.

Becksley is an exempt market dealer based in Richmond Hill, Ontario.

At the time of the investment, Mr. J was a 37-year old skilled tradesman with a high school education. Mr. J had an income of $69,000 and a net worth of less than $100,000.

On the advice...

OBSI launches new Consumer Portal to provide improved consumer experience

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. Consumers can submit their complaints...