OBSI's Board of Directors has approved changes to OBSI's Terms of Reference following an extensive public consultation.
OBSI Board Approves New Terms of Reference • CSA Announces Expanded Mandate for OBSI
Mr. C owned an automotive parts store where he employed an administrative assistant with responsibility for payroll, bank statement reconciliations, and other accounting functions. Over a period of four years, she embezzled $80,000 by writing company cheques to herself or fictitious third parties, depositing them into her personal account using her bank's automated bank machine (ABM).
Northern Securities Refuses OBSI Recommendation
Mrs. P had a Registered Retirement Savings Plan (RRSP) and several other accounts with her investment firm, but was a relatively unsophisticated investor. Her husband, on the other hand, did have a good understanding of investment concepts and strategy, and regularly traded stocks in a self-directed account.
OBSI received multiple complaints over a short period about an investment firm and Mr. V, an investment advisor and branch manager. The complainants had no connection to one another other than having Mr. V as their advisor.
Mr. E held both Canadian and American-dollar denominated accounts at his bank. In March 2, he received a $26,000 USD wire transfer from a relative living abroad, made through Mr. E's bank's foreign subsidiary.
Health issues made movement challenging for Mr. A so he gave his eldest son his debit card and personal identification number (PIN) to make purchases on his behalf. Mr. A completed a joint power of attorney (POA) naming his two sons as his attorneys. Soon after, Mr. A's personal bank account was converted into a joint account with his eldest son.
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