Below you will find answers to OBSI's frequently asked questions along with useful links and resources for seniors.
OBSI is not responsible for the content or functionality of external websites.
| OBSI Frequently Asked Questions |
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How do I make a complaint to OBSI? Before we can look at your complaint, you must first try to resolve your complaint with your firm. Most complaints can be resolved by either the person you dealt with or by using the complaints process in the firm. If you're not satisfied with how the firm proposes to resolve the complaint, you have the right to come to us. What complaints won't you deal with? We won't take on a complaint if:
Will you contact me during the investigation? We try to be as thorough as possible, so during the investigation process, we may arrange a call with you and ask questions to clarify the issues and better understand your complaint. We may also request that you provide additional documents. By participating in the call and providing us documents in a timely manner, you will help us to complete our investigation as soon as possible. |
| Ombudsman Associations |
| International Network of Financial Services Ombudsman Schemes (INFO Network)
The INFO Network is a worldwide association of financial services ombudsman schemes. |
| Consumer Information and Help |
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The CAFC operates pursuant to a joint management team structure consisting of representatives of the Royal Canadian Mounted Police (RCMP), The Ontario Provincial Police (OPP) and the Competition Bureau Canada. Canadian Foundation for Advancement of Investor Rights (FAIR) Non-profit organization representing the interests of Canadian investors in securities regulations. Canadian Foundation for Economic Education This site has several resources that help increase financial capability. A consumer-friendly portal hosted by the Government of Canada which includes a step-by-step complaints guide for several different industries including financial services, with links to provincial government consumer affairs departments. GetSmarterAboutMoney.ca (OSC Investor Education) GetSmarterAboutMoney.ca is a website founded by the Ontario Securities Commission (OSC) that provides unbiased and independent financial tools to help you make better financial decisions. The Get Smarter About Money tool is run by the OSC's Investor Office which sets the strategic direction and leads the OSC's efforts in investor engagement, education, outreach and research. The Office also brings the investor perspective to policy-making and operations. Osgoode Hall Investor Protection Clinic The Investor Protection Clinic at Osgoode Hall Law School provides free legal advice to people who believe their investments were mishandled and who cannot afford a lawyer. |
| Provincial Securities Commission Investor Education |
| InvestRight (British Columbia Securities Commission) Recognize Investment Fraud (The Manitoba Securities Commission) GetSmarterAboutMoney.ca (OSC Investor Education) Investor Resources (Alberta Securities Commission) |
| Regulatory Organizations |
| Canadian Securities Administrators
This umbrella organization for the provincial securities regulators includes links to member sites and consumer information. Alberta Securities Commission (ASC) Autorité des marchés financiers (AMF) British Columbia Securities Commission (BCSC) Department of Community Services for the Government of Yukon Manitoba Securities Commission (MSC) New Brunswick Securities Commission (NBSC) Nova Scotia Securities Commission (NSSC) Ontario Securities Commission (OSC) Prince Edward Island Securities Office Financial and Consumer Affairs Authority (FCAA) Service Newfoundland and Labrador Office of the Superintendent of Securities (Northwest Territories) |
| Self Regulatory Organizations |
| Investment Industry Regulatory Organization of Canada (IIROC)
The national self-regulatory organization for securities dealers in Canada. Mutual Fund Dealers Association of Canada (MFDA) The national self-regulatory organization for mutual fund dealers in Canada. |
| Other Regulatory Organizations |
| Joint Forum of Financial Market Regulators
The national forum for pension, securities and insurance regulators to co-ordinate, harmonize and streamline financial services regulation in Canada. Financial Consumer Agency of Canada (FCAC) The federal marketplace conduct regulator of federally regulated financial services firms including banks. Office of the Superintendent of Financial Institutions (OSFI) The federal government regulator for financial services firms in federal jurisdiction. Office of the Privacy Commissioner of Canada The federal government office that monitors and enforces the privacy law. |
| Industry Associations |
| Canadian Bankers Association (CBA)
The national industry association for Canada's banks. Credit Union Central of Canada The trade association and central finance facility for credit unions in Canada. Investment Funds Institute of Canada (IFIC) The trade association for the mutual fund industry in Canada. Investment Industry Association of Canada (IIAC) The trade association for the investment industry in Canada. National Exempt Market Association (NEMA) The association for the exempt market securities industry in Canada. The organization responsible for Canada's financial clearing and settlement infrastructure, processes and rules. Portfolio Management Association of Canada (PMAC) The association for portfolio management firms in Canada. Private Capital Markets Association of Canada (PCMA) The association for exempt market dealers and issuers in Canada. RESP Dealers Association of Canada (RESPDAC) The industry association for Scholarship Plan Dealers in Canada. |
| Insurance |
| Canadian Life and Health Insurance Association (CLHIA)
The trade association for life and health (including disability) insurance companies in Canada. OmbudService for Life and Health Insurance (OLHI) The OmbudService for Life & Health Insurance (OLHI) is a national independent complaint resolution and information service for consumers of Canadian life and health insurance products and services, including life, disability, employee health benefits, travel, and insurance investment products such as annuities and segregated funds. Insurance Bureau of Canada (IBC) The trade association representing the home, auto and business insurance industry in Canada. General Insurance OmbudService (GIO) For Canadian consumers of home, automobile and business insurance, there is an alternative. The General Insurance OmbudService (GIO) is an independent dispute resolution service that is responsive, thorough and focused on the successful resolution of consumer complaints. |
| Credit Bureaus |
| Equifax Trans Union |
Additional Resources for Seniors
In the broader financial services world, many organizations are putting special effort into identifying and addressing seniors' issues. Below are some of the resources available for both financial industry professionals and elderly financial service consumers.
- Canadian Securities Administrators (CSA): Scam artists pursue adults over 50 brochure
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GetSmarterAboutMoney.ca is a website founded by the Ontario Securities Commission (OSC) that provides unbiased and independent financial tools to help investors of all ages make better financial decisions. The website is run by the OSC's Investor Office which sets the strategic direction and leads the OSC's efforts in investor engagement, education, outreach and research. The Office also brings the investor perspective to policy-making and operations. Other useful links from the OSC are: Retirement planning, Fact Cards: unbiased information about investing and Re: Investing: ask questions about investing
- Alberta Securities Commission (ASC): Resources for Retirement
- InvestRight.org by the BC Securities Commission provides investors with the tools to research and assess potential investments and protect themselves from unsuitable or fraudulent investments.
- Investment Industry Regulatory Organization of Canada (IIROC): Protect Yourself
- Mutual Fund Dealers Association of Canada (MFDA): Senior's Section
- Financial Consumer Agency of Canada (FCAC): Life Event Guides
- Investment Industry Association of Canada (IIAC): Protecting Senior Investors: Compliance, Supervisory and Other Practices When Serving Senior Investors Guidance Report
- Canadian Bankers Association (CBA): Your Money Seniors