OBSI News

Professor Poonam Puri to conduct OBSI’s 2021 Banking and Investment independent external reviews

OBSI’s Board of Directors is pleased to announce the appointment of Professor Poonam Puri to lead external reviews to evaluate OBSI’s operations and practices for both banking-related and investment-related complaints. The purpose of these independent reviews is to determine whether OBSI is fulfilling its regulatory obligations and operating effectively in accordance with recognized best practices for financial services ombudsmen.

Prof. Puri is one of Canada’s leading experts in corporate governance,...

Consumer Bulletin: Be aware of the risks of DIY investing

More Canadians are choosing to be self-directed or do-it-yourself (DIY) investors than ever before. In 2020, over two million new DIY accounts were opened in Canada - more than double the amount opened in 2019. This represents an unprecedented rise in the number of Canadians who trade securities on their own using the services of an order-execution-only (OEO) firm. A key feature of OEO firms is that they provide investors with access to trading platforms but do not provide investors with...

Firm Bulletin: 2022 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...

Maureen Jensen joins OBSI Board to become next Chair

Toronto, September 23, 2021 – OBSI’s Board of Directors is pleased to announce the appointment of Maureen Jensen to the board effective immediately. Ms. Jensen has also been selected to be nominated as the next Chair of OBSI’s Board of Directors at the next Annual General Meeting of the organization to be held in March 2022. Ms. Jensen will succeed Jim Emmerton, whose term as Chair will be coming to an end following 12 years of service.

Ms. Jensen has been a leader in the investment industry...

Firm Bulletin: OBSI firm fee outlook for 2022

While final fees will not be determined until approved by our board in late September and will not be invoiced until November 1, the purpose of this bulletin is to assist firms in their annual planning by sharing the likely direction of OBSI fees for 2022.

2020 and 2021 have been exceptional years for many reasons. From OBSI’s perspective, one of the biggest impacts of the pandemic has been a significant and ongoing increase in consumer and investor complaints. Complaint volumes in late 2020 and throughout...