OBSI News

OBSI Board welcomes Ontario Capital Markets Modernization Taskforce proposals to strengthen ombudsman’s ability to help investors

Toronto, July 10, 2020 – OBSI’s Board of Directors welcomes the proposal of Ontario's Capital Markets Modernization Taskforce to give OBSI the power to require investment firms to pay fair compensation to harmed investors when warranted, and increase the limit on OBSI’s compensation recommendations.

We appreciate that multiple investor interest organizations including the Canadian Association for Retired Persons (CARP), The Foundation for the Advancement of Investor Rights (FAIR Canada), and the Ontario...

OBSI e-News: Q2/2020

Read OBSI's latest newsletter for updates on our service and outlook during the COVID-19 pandemic, two new approaches, our stats for this quarter, and more.
Click here to read OBSI e-News: Q2/2020

OBSI COVID-19 pandemic update and outlook

Where we are today
Like all our stakeholders, at OBSI we are working hard to continue to deliver our services and fulfill our mandate during the COVID-19 pandemic, and we are closely monitoring the challenges and events affecting our business environment. We are pleased to report that all of our staff are working effectively and efficiently from their homes during the emergency and we have been able to continue to provide our services effectively and without any interruption.

Inquiry and case volumes
Since...

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...

Consumer tips for resolving a complaint with your bank or firm effectively

During times of economic uncertainty, people often feel stressed about their finances. They spend more time thinking and worrying about money. Many will face unexpected expenses or loss of employment and lose the sense of security they had with their banks or firms. This may lead to concerns about being treated fairly.

We have learned from past experience that consumer complaints go up during difficult financial times. If you think you may have a complaint, read on. This resource shares our tips for...