News Releases

OBSI establishes board position for Consumer Interest Director

Toronto, May 28, 2020 – Today, the Board of Directors for the Ombudsman for Banking Services and Investments (OBSI) approved changes to the organization’s Bylaw to require at least one director to be designated a Consumer Interest Director. A Consumer Interest Director will have a particular interest in, access to, and experience representing the interests of the types of consumers which OBSI serves.

“Given the increasing range and complexity of issues that consumers of financial services face, the...

OBSI responds to FCAC review of external complaints bodies’ operations

Toronto, February 19, 2020 – Today, the Financial Consumer Agency of Canada (FCAC) released its review of bank complaint handling procedures and of the operations of external complaints bodies (ECBs), which included the Ombudsman for Banking Services and Investments (OBSI).

“We commend the Minister of Finance and the FCAC for recognizing the importance of consumer complaint handling in the financial services sector and delivering this insightful and comprehensive report. OBSI takes seriously...

OBSI releases first ever Canadian seniors’ complaints report

Toronto, July 18, 2019 – Older Canadians experience different challenges with the financial services they use than younger Canadians, according to a new report issued by the Ombudsman for Banking Services and Investments (OBSI). They are also more likely to file complaints about those services. While seniors represent less than a third of the Canadian population, they accounted for 38% of the complaints that OBSI received over a two-year period.

Today, OBSI released its first ever Seniors Report,...

OBSI supports the Canadian Securities Administrator proposed rules for financial advisors

TORONTO, Ontario, June 28, 2018 – The Ombudsman for Banking Services and Investments (OBSI) has released its comments regarding the Canadian Securities Administrators (CSA) proposed rules for financial advisors.

OBSI supports the CSA's proposed amendments to National Instrument 31-103 and Companion Policy 31-103CP. We welcome the CSA’s efforts to bring greater clarity, establish one set of rules and to harmonize regulatory requirements across Canadian capital markets. When Canada’s provincial and...

OBSI 2017 Annual Report released: consumer complaints increase in 2017

The Ombudsman for Banking Services and Investments (OBSI) has released its Annual Report for 2017.

Attachments

• L’Ombudsman des services bancaires et d’investissement (OSBI) a publié son rapport annuel de 2017.
• OBSI 2017 Annual Report released