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JRC to look at expanding OBSI’s powers

Complaints regarding banking cases have jumped 30%, while the volume of investment industry complaints have slipped

OBSI plans to improve resolution process

Ombudsman service plans other improvements after surveying institutions

JRC to look at expanding OBSI’s powers

Grace McSorley will take over from Brigitte Boutin, who retired from OBSI in March, in July

  • By: Leah Golob
  • June 16, 2017 December 19, 2017
  • 12:00
JRC to look at expanding OBSI’s powers

The regulatory committee aims to look at recommendations for giving OBSI binding powers

OBSI plans to improve resolution process

Although complaint volumes increased year-over-year, overall trends remained consistent

OBSI urging consumers who have encountered issues with aggressive sales tactics to file a complaint with their financial institution

JRC to look at expanding OBSI’s powers

The dispute-resolution service says in its new strategic plan that it wants to implement a new approach to enforcing compensation recommendations

OBSI plans to improve resolution process

Although the dispute-resolution service supports most of an independent reviewer’s recommendations, it rejects a couple of big ones

Certain claims are best handled by OBSI; however, if the ombudservice were more balanced, it would result in a process that’s more transparent and fair

U.S. whistleblower awarded US$2.5 million

The firm refused the ombudservice’s recommendation to compensate an investor who lost more than $100,000 in exempt-market investments