Ombudsman for Banking Services and Investments (OBSI)

Ombudsman for Banking Services and Investments: financial dispute resolution in Canada

The Ombudsman for Banking Services and Investments (OBSI) is an independent, impartial and free service for Canadians that resolves disputes between consumers and more than 1,500 financial services firms. The organization presents itself as an ombudsman mechanism serving both banking and investment clients.

Two distinct audiences: consumers and financial firms

OBSI's activity is organized into two clearly separate tracks. For consumers, it offers resources such as bulletins, its own portal, FAQs, a search tool to locate the financial firm involved and a detailed explanation of how the complaint process works. It also publishes information on how the organization is funded and on what consumers can expect during the process.

For financial firms, OBSI has a specific track that includes becoming a participating firm, the fee regime, bulletins and feedback channels, a helpdesk and its own portal, as well as a participating firm search.

How we work and service standards

The organization publicly details its approaches, its service standards, the responsibilities of both firms and consumers, and reconsideration procedures. It also publishes information about its governance, the regulatory framework to which it is subject and its terms of reference.

Case data and publications

OBSI maintains a case data and insights section that includes banking case summaries, case studies, a Data Cube with interactive statistical data and quarterly case data. According to the figures published on the site, in 2025 more than 26,000 inquiries were received, more than 6,100 cases were opened and cases closed increased by 36%.

Its periodic publications include annual reports, firm refusals, news releases, presentations, reports and submissions, print materials and public consultations. In 2026 the organization released the results of its independent external review, covering its operations and practices for both banking and investment complaints.

Thirty years of activity

The organization is marking its thirtieth anniversary, a milestone it presents as built on trust, fairness and effective ombudsmanship. The site also includes a bulletin for firms on changes to the fee calculation methodology for CIRO-regulated firms, expected to take effect from fiscal 2027 and intended to improve administrative efficiency and the transparency and predictability of fees, without changing the total amount charged to the sector.

Location and contact

20 Queen Street West, Suite 2400, P.O. Box 8, Toronto ON M5H 3R3