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Ms. Y opened a managed investment account with an advisor at an investment firm and transferred her entire life savings of $253,000. At the time, she was middle-aged, a single parent of four dependent children, and the owner of a small business with a net worth of $600,000. Her documentation showed she had a medium-risk tolerance, a willingness to accept losses of 10 to 15%, and limited investment knowledge and investment experience. She relied entirely on her advisor for investment advice, and he exercised full discretionary authority over her accounts.
Mr. and Ms. D wanted to purchase a home and applied for a mortgage. Because their down payment was less than 20% of the purchase price, the mortgage was required to be insured under Canadian mortgage rules, and the bank arranged mortgage insurance as part of the financing.
Read OBSI's latest newsletter featuring our Q1 2026 case data & insights, OBSI’s response to the Department of Finance’s National Anti-Fraud Strategy Consultation, Enhancements to the OBSI Firm Portal, a new case study, and the release of our 2025 Annual Report.
OBSI is pleased to announce new updates to the Firm Portal to improve transparency around investigation timelines and firm delays.
To provide clearer information about delays attributable to firms, two new fields have been added to the portal.
Mr. D used a credit card issued by Bank A to pay for online purchases from a Chinese e‑commerce platform in June 2025.
The seller provided Mr. D with a tracking number shortly after the purchase. However, the tracking information never showed any shipping activity beyond its initial creation. The estimated delivery date passed without the goods being delivered. Mr. D attempted to resolve the issue by contacting the seller through the platform, but the seller did not provide a meaningful response. Mr. D did not receive a refund or a replacement.
OBSI undertook two independent evaluations of its operations and practices in 2026.
Toronto, March 13, 2026 – The Ombudsman for Banking Services and Investments (OBSI) released its 2025 Annual Report.
Toronto, March 11, 2026 - The Board of Directors for the Ombudsman for Banking Services and Investments (OBSI) is pleased to announce two appointments to the board.
As previously announced, CRKhoury (CRK) is currently leading an independent review of OBSI’s banking and securities mandates and our overall operations and practices. CRK have established a Review website at obsireview.crkhoury.com.au which provides some information about the Review and will be updated from time to time as the Review progresses.
Read OBSI's latest newsletter featuring our Q4 2025 case data & insights, Opening Remarks by Sarah Bradley, Ombudsman and CEO, OBSI to the Senate Committee on Banking, Commerce and the Economy, our Proactive Resolution initiative pilot extension, and OBSI 2026 External Review Public Consultation.
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