Investment Complaints
OBSI has signed a Memorandum of Understanding (MOU) with the Canadian Securities Administrators that provides for securities regulatory oversight of OBSI as well as a framework for cooperation and communication. The oversight framework provides standards for OBSI to meet with respect to:
A Joint Regulators Committee (JRC) has been established, which includes representatives of the CSA's designates (Alberta Securities Commission, British Columbia Securities Commission, Autorité des marchés financiers, and Ontario Securities Commissions), IIROC and the MFDA. OBSI meet with the JRC on a regular basis to discuss governance and operational matters, as well as significant issues that could impact the effectiveness of the dispute-resolution system.
Banking Complaints
OBSI is an approved External Complaint Body (ECB) for banking complaints under the Bank Act and operates according to regulatory criteria established by the federal Department of Finance and overseen by the Financial Consumer Agency of Canada (FCAC).
Compliance Questions or Concerns
If you have a question or concern about OBSI’s compliance with the federal External Complaint Body regulations (for banking complaints) and/or Memorandum of Understanding with the Canadian Securities Administrators (for investment complaints), please contact Mark Wright, Chief Compliance Officer.
Mark Wright
Chief Compliance Officer
401 Bay Street, Suite 1505
P.O. Box 5
Toronto, ON M5H 2Y4
Toll-free: 1-888-451-4519
TTY: 1-855-889-6274
Fax: 1-888-422-2865
Email: compliance@obsi.ca
You may also contact FCAC directly for banking-related compliance issues: How to contact FCAC.
Please note that the Chief Compliance Officer cannot review the decision or outcome of an investigation. The Chief Compliance Officer may only review whether OBSI has properly followed its policies and procedures as well as obligations under the federal External Complaint Body regulations (for banking complaints) and Memorandum of Understanding with the Canadian Securities Administrators (for investment complaints).
Please include your name and contact information along with your question or concern. We are unable to respond without this information.
An acknowledgement response will be provided by the Chief Compliance Officer or designate within 7 business days.
During this process, we may contact you for additional information. We may also contact the regulator(s).
You will receive a response within 60 days.
OBSI is committed to handling complaints in a fair and impartial manner, consistent with our regulatory obligations, and we take any concerns seriously. The Chief Compliance Officer may recommend changes or modifications to our operations if compliance-related issues are identified. The regulator(s) may be informed of the matter and any action(s) OBSI takes.