OBSI News

On November 1, 2017, OBSI launced a three-month long pilot project of the Firm Information Service (FIS) to all participating firms. The service will provide information about OBSI's experiences and approach in order to help firms fairly and effectively resolve complaints.

Firms can contact OBSI by leaving a voice message or by sending an email. All incoming calls and emails will be reviewed daily by senior staff and assigned to an appropriate OBSI employee who will then provide a response within...

Read OBSI's latest newsletter for a message from Sarah Bradley, Ombudsman and CEO, details on the Firm Information Service pilot, Q3 statistics and more.

Attachments

• OBSI October 2017 e-News Letter
• Bulletin de l'OSBI - Octobre 2017

OBSI received valuable feedback from participating firms during its first annual participating firm survey which was distributed in December 2016.

We surveyed 178 participating firms, including:

• All 77 federally regulated bank members of OBSI, and
• All investment firms that had a complaint handled by OBSI in the past year.

In this report, we present the key findings of the survey, as well as an overview of the changes we are making to address the feedback we heard from firms.

Attachments

• OBSI 2016 Participating...

Canadians have good reason to fear getting scammed.

Nearly a quarter of the banking cases OBSI received in 2020 were related to fraud, making it the most reported banking issue of the year. According to the Canadian Anti-fraud Centre, fraud is on the rise. In 2020, Canadians lost $106.4 million to fraud compared to $96 million in 2019.

Many of these frauds and scams are perpetrated by criminals hiding behind false identities on the internet, and it seems these fraudsters are always figuring out new...

OBSI’s Board of Directors is pleased to announce two recent appointments to the board and one to the Consumer and Investor Advisory Council (CIAC):

• Suresh Krishnasamy has joined the board as the Canadian Bankers Association (CBA) nominee. He is the Chief Operating Officer, North American Personal and Business Banking for BMO Financial Group. Mr. Krishnasamy joined BMO in 2006 from McKinsey and Company. He has since held executive leadership roles in strategy, finance, and operating groups.