Posts by Ombudsman For Banking Services and Investments

We are pleased to announce the extension of our ongoing Proactive Resolution initiative pilot project to April 30, 2026 in order to allow for a more fulsome analysis of the initiative’s outcomes.

This initiative is designed to encourage firms to resolve complaints directly with consumers as early as possible in the OBSI process, which can enhance consumer satisfaction and reduce resource demands, benefiting all users of our service. The pilot was launched on November 1, 2025 for an initial 3-month period.

OBSI is pleased to announce the appointment of CRKhoury (CRK) to conduct the 2026 independent external review of OBSI’s operations and practices for both banking and investment-related complaints. The purpose of this independent review is to evaluate whether OBSI has fulfilled its regulatory obligations and operates effectively in accordance with recognized best practices for financial services ombudsmen.

Ms. C managed her own investments through a trading account at a do-it-yourself (DIY) investing firm (also known as an order-execution-only (OEO) firm), which operated as a subsidiary of her bank. She linked her bank account and trading account together and enjoyed the convenience of transferring funds between them. Ms. C managed both accounts independently as the sole accountholder.

Read OBSI's latest newsletter featuring our Q3 2025 case data & insights, OBSI's response to CIRO's request for comment, our Proactive Resolution initiative pilot, and OBSI’s approach to releases and non-disclosure agreements.

Click here to read OBSI e-news: Q3/2025.

We are pleased to announce the launch of our Proactive Resolution initiative, a pilot project running from November 1, 2025 to January 31, 2026. This initiative is designed to encourage firms to resolve complaints directly with consumers as early as possible in the OBSI process. We believe early resolution can enhance consumer satisfaction and reduce resource demands, benefiting all users of our service.

As a not-for-profit organization, OBSI recovers all of its budgeted operating expenses from its participating firms each year. OBSI's budget and the allocation of this budget between the different industry sectors that use OBSI's services is approved by OBSI's Board of Directors each September. Our board also considers fairness and the impact of fee changes on member firms when setting fees. A guiding principle is that no sector or registrant category should subsidize another.

Investing helps to grow your savings, meet your financial goals and secure your financial future, but investing also involves risk and potential for loss. While all investors are interested in maximizing their gains and minimizing their losses, it’s typically not possible to do both at the same time. Generally, higher potential for returns means higher potential for losses. Investing wisely involves balancing your unique financial objectives and risk tolerance, as well as understanding the pros and cons of a wide range of different investments, account types and tax implications. 

Read OBSI's latest newsletter featuring our Q2 2025 case data & insights, OBSI's response to CIRO, and What's new in the Firm Portal.

Click here to read OBSI e-news: Q2/2025.

In September 2024, OBSI launched a public consultation on our approach to loss calculations involving unsuitably sold illiquid exempt market securities, describing the development of our approach, feedback we had received on our approach, and relevant considerations for an appropriate loss calculation methodology.

OBSI is pleased to announce the latest round of firm portal enhancements, now available to participating firms. Our updates aim to further improve the portal experience by focusing on features firms value most, including document upload improvements, additional information in the cases list, and new case statistics.