OBSI News

Toronto, January 20, 2022 – With the start of the new year, the Ombudsman for Banking Services and Investments (OBSI) welcomed credit unions from across British Columbia as participating firms, joining Alberta and Saskatchewan credit unions who have offered OBSI services to their members since the mid-2000s.

“We are pleased to have this opportunity to work with BC credit unions and their members, and to play an important role in helping them to resolve issues and move constructively past any disputes...

Scammers exploiting public interest in crypto investing

A growing number of Canadians are interested in investing in new categories, such as cryptocurrency, but these emerging technologies and platforms are unfamiliar to most investors, giving fraudsters the advantage when they are looking for people to target. According to the RCMP, fraud involving cryptocurrency rose 400 per cent between 2017 and 2020. What had been hundreds of cases (734) in 2017 jumped to thousands of cases (7,598) in the first...

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...

As previously announced, Professor Poonam Puri is currently leading two separate independent reviews of OBSI’s operations and practices relating to our banking and investment-related mandates.

Consultation with stakeholders is an important component of these evaluations. Based on recent feedback we have received following the consultation announcement on November 4 and to ensure that all stakeholders who wish to participate in the consultation are able to do so, the evaluators have extended...

As previously announced, Professor Poonam Puri is currently leading two separate independent reviews of OBSI’s operations and practices relating to our banking and investment-related mandates.

The independent reviews are expected to conclude with final reports delivered to OBSI by late January 2022 for the investment review and late February 2022 for the banking review. Publication of the final reports will follow.

Consultation with stakeholders is a key component of these evaluations. To facilitate...