Complaints regarding banking cases have jumped 30%, while the volume of investment industry complaints have slipped
Applications to the self-regulatory organization are due Oct. 15
Ombudsman service plans other improvements after surveying institutions
Grace McSorley will take over from Brigitte Boutin, who retired from OBSI in March, in July
The regulatory committee aims to look at recommendations for giving OBSI binding powers
The dispute-resolution service says in its new strategic plan that it wants to implement a new approach to enforcing compensation recommendations
Although the dispute-resolution service supports most of an independent reviewer’s recommendations, it rejects a couple of big ones
The increase is attributed primarily to new processes that OLHI has implemented for assessing and handling complaints
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
A new independent report makes it clear that binding decisions are needed for full and fair compensation