November 09, 2022

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How can this shameful situation continue to exist in Canada? The Ombudsman has a skilled staff, familiar with calculating investors’ losses arising from poor financial advice. Why should financial institutions be allowed to negotiate lower than recommended settlements?

FAIR Advocacy Spotlight: A recent assessment of the Ombudsman for Banking Services and Investments (OBSI) highlights an alarming fact. Over a five-year period, investors received almost $3 million less than what OBSI had recommended. How is this fair to consumers? Unfortunately, in the current system, investors often feel pressure to settle complaints for less than what OBSI recommends. Governments and regulators need to address this critical issue.
To learn about our advocacy work on OBSI, read our press release:
Read OBSI’s Independent Evaluation Report:
#InvestorComplaints #InvestorRights #finance

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