OBSI News

OBSI chosen as sole ombudsman for banking complaints in Canada

Toronto, October 17, 2023 – In a significant development today, the Honourable Chrystia Freeland, Deputy Prime Minister and Minister of Finance, announced that the Ombudsman for Banking Services and Investments (OBSI) has been selected as the single external complaints body for Canada, with the mandate to investigate and resolve complaints between Canadian banks and consumers. OBSI welcomes this decision that recognizes our organization’s 27-year track record of impartiality, expertise, and...

Firm Bulletin: 2024 Fees for Participating Firms

How OBSI fees are determined

As a not-for-profit organization, OBSI recovers all of its budgeted operating expenses from its participating firms each year. OBSI's budget and the allocation of this budget between the different industry sectors that use OBSI's services is approved by OBSI's Board of Directors each September. Our board also considers fairness and the impact of fee changes on member firms when setting fees. A guiding principle is that no sector or registrant category should...

OBSI e-News: Q3/2023

Read OBSI's latest newsletter featuring our Q3 case statistics, an RESP case study, an approach about how OBSI deals with investment transfer delay cases, and our latest consumer bulletin on fraud.

Click here to read OBSI e-news: Q3/2023.

Consumer Bulletin: Understanding Fraud Protection

What you need to know

Financial fraud is rising – we all see reports of it every day in the news and our social media feeds, but it can be difficult to appreciate the risks and impacts of fraud when we have not had first-hand experience. It is important for everyone to understand how financial frauds take place and how to remain vigilant for ourselves and our loved ones. Opting out of financial services is not possible – these services are an essential part of managing our money and securing our financial...

OBSI e-News: Q2/2023

Read OBSI's latest newsletter featuring our Q2 case statistics, a suitability case study, updates about our governance, and more.

Click here to read OBSI e-news: Q2/2023.