Home Ombudsman for Banking Services and Investments

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

A new independent report makes it clear that binding decisions are needed for full and fair compensation

  • By: Neil Gross
  • June 13, 2016 December 15, 2017
  • 05:00
IIROC reaches settlement with three former All Group reps

A new independent report suggests OBSI is functioning well as a dispute-resolution service but needs regulators to empower it further

Industry lobbyists feel that ombudsman favours investors

The dispute-resolution service reports that banking complaints rose by 21% over the past year while investment complaints dropped by 14%

Investment industry intransigence toward the dispute-resolution service has grown since the last independent review in 2011