Once I get in touch with OBSI, how long does it take you to resolve my complaint?
That depends on several factors, such as the complexity of the file or the availability of all the documents and people we need to talk to.
A decision is reached within 120 days for cases pertaining to banking services matters, and within 180 days, 80 percent of the time, for cases pertaining to investment matters. Complex cases can take longer to resolve, and many cases can be resolved more quickly. Our commitment is to keep you informed of our progress throughout.
What about limitations periods and my right to sue if I'm not happy with your recommendation?
Every province has what is called a limitation period, which means that if you want to take legal action against your firm, you must start it within a certain number of years or you will lose that right. The exact length of time you have to start a legal action depends on the province and may be as short as two years.
You should seek professional advice if you have any questions about limitation periods and how they may affect your complaint.
If you tell us that you believe you may be affected, we will seek an agreement with you and your firm to “stop the clock" while we investigate, where permitted by law. We believe that access to our service, as an alternative to the legal system, should be encouraged, not discouraged.
In Ontario, the law says that bringing a complaint to OBSI “stops the clock" for as long as we are trying to resolve a case. That means the limitation period is paused for our review and investigation in Ontario.