CRKhoury to conduct OBSI’s 2026 independent external reviews
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.
Why CRK was selected
CRK brings exceptional qualifications and a proven track record of conducting independent reviews of dispute resolution organizations worldwide. The firm (formerly known as Navigator) offers deep knowledge of financial regulatory frameworks and international best practices, ensuring a comprehensive and informed evaluation. CRK is known for publishing clear, independent public reports that promote transparency and accountability. Over the past 25 years, CRK has undertaken 27 independent reviews of external complaint bodies in Australia, New Zealand, Malaysia, Canada and the U.S. This has included 14 financial sector dispute resolution schemes covering general insurance, life insurance, investments, securities, banking, credit unions and building societies, including prior reviews of OBSI in 2007 and 2011.
About the lead reviewer
The review team will be led by Phil Khoury, whose extensive experience and expertise in governance, self-regulatory and complaints handling make him uniquely suited to lead this important evaluation. Mr. Khoury is a founder and the principal of CRK. He is a former Executive General Manager of the Australian Securities and Investments Commission and has over 30-years experience as a governance and change management consultant. He has worked extensively with industry bodies, external complaints handling schemes and specialist disciplinary bodies.
The review process will begin in late January
CRK will begin its review in late January. It is expected that the CRK team will undertake a process of stakeholder outreach and public consultation as part of their evaluation work. Requests for public comment will be posted on the independent evaluations page of OBSI’s website and will be announced through OBSI’s regular communication channels. The review process will include assessing OBSI’s complaint handling, governance, operations, and performance against our regulatory requirements and international standards as set out in the review terms of reference. The final report will be published later this year on OBSI’s website.
OBSI’s Terms of Reference require OBSI to submit to knowledgeable, independent third-party evaluations of its operations conducted according to timelines set out by banking and securities regulators. Previous external reviews were conducted in 2021, 2016, 2011 and 2007 and are available on the independent evaluations page of OBSI’ website.