OBSI News

OBSI 2022 Annual Report released

Complaint inquiries and opened cases reach new record highs in 2022, fraud complaints dramatically rise

Toronto, March 16, 2023– The Ombudsman for Banking Services and Investments (OBSI) released its2022 Annual Report.

In 2022, OBSI responded to over 10,000 public inquiries - a 40% year-over-year increase from the record levels reached in 2021. This was largely driven by banking inquiries that rose 56% compared to 2021. Investment inquiries increased by 8% year over year.  

In total, OBSI opened 1...

OBSI e-News: Q4/2022

Read OBSI's latest newsletter featuring our case statistics for both Q4 and fiscal 2022, OBSI's approach to fraud complaints, a relationship-ended case study, and more.

Click here to read OBSI e-news: Q4/2022.

OBSI e-News: Q3/2022

Read OBSI's latest newsletter featuring news about third quarter case volumes, two new case studies, how OBSI is increasing case data disclosure, and information about our 2021 independent reviews.

Click here to read OBSI e-news: Q3/2022.

OBSI Governance Review – request for public comment

November 1, 2022 - As first announced on August 25, the Ombudsman for Banking Services and Investments (OBSI) is now seeking input from stakeholders and the public in relation to its organizational governance. This consultation is focussed on understanding how OBSI’s board can best ensure that it has the opportunity to consider the perspectives of stakeholders with financial service industry expertise and consumer advocacy expertise in its decision making. OBSI is committed to ensuring...

OBSI Response to the 2021 Independent Evaluation Recommendations

October 26, 2022 - Today, OBSI provided its response to the recommendations included in the 2021 independent evaluations of its investment and banking mandates.

Both reviews were completed by Professor Poonam Puri. The reviews made many important favourable observations and conclusions about the quality of OBSI’s services and operational practices. The investment report set out 22 recommendations for OBSI, while the banking report set out 25 recommendations, with significant congruence between...