Today, the OBSI Board of Directors provided its response to the recommendations included in the 2016 independent evaluation of its securities mandate.
OBSI today announced the refusal of Sentinel Financial Management Corp. (Sentinel Financial) to compensate an investor $128,799 for losses caused by an advisor working for Sentinel recommending unsuitable investments.
OBSI released the results of an independent evaluation of its operations and practices for investment-related complaints.
OBSI has released its 2015 Annual Report. Overall complaint volumes remained stable, however, banking-related complaints increased and investment-related complaints decreased, continuing a trend of the past two years.
OBSI’s Board of Directors is pleased to announce the election of four new community directors following the recent annual general meeting held on February 29, 2016 in Toronto. The four directors come from across Canada, bringing a diversity of skills and experience from both the public and private sectors.
In accordance with the ‘Memorandum of Understanding concerning oversight of the Ombudsman for Banking Services and Investments’ (MOU) between the Canadian Securities Administrators (CSA) and the Ombudsman for Banking Services and Investments (OBSI), OBSI is required to submit itself to an independent evaluation of its operations and practices for investment-related complaints commencing no later than May 1, 2016.