OBSI News

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...

Firm Bulletin: 2023 Fees for Participating Firms

How OBSI fees are determined

Participating firm fees are set annually by the OBSI Board of Directors in accordance with our corporate Bylaw. As a not-for-profit organization, participating firm fees fund all our operations and are set on a cost-recovery basis.

Each year, we establish a fee target based on our budget for the coming year and divide that fee target between the sectors of firms that use our service. The division of fees among the different sectors is based on the proportion of OBSI resources...

OBSI’s new Data Cube is the next step for greater access to financial complaints information

Toronto, October 6, 2022 – The Ombudsman for Banking Services and Investments (OBSI) is pleased to announce the launch of a new interactive digital information tool called Data Cube. The Data Cube provides at-a-glance access to current and historical information about OBSI’s case experience and outcomes in an open and accessible visual format that allows users to interact with and filter data by date range, product, issue, industry, or firm. This new online tool provides information...