Sarah Bradley, the Ombudsman and CEO of the Ombudsman for Banking Services and Investments (OBSI) joins PIAC to talk about how retail investors in Canada can complain about their investment problems, both to their investment advisers and to the OBSI, the single-source independent investment ombudsman service. OBSI is free but needs some additional powers to make its decisions truly effective and we talk that through.
Sarah Bradley, the Ombudsman and CEO of the Ombudsman for Banking Services and Investments (OBSI) discusses how OBSI can help consumers resolve investment disputes in Canada. OBSI (https://www.obsi.ca/) is the single independent ombudsman service if you cannot resolve your complaint with your investment company or investment adviser. OBSI's services are free to consumers. We discuss the scope of OBSI's services and the limitations on their potential monetary awards to consumers, limitations periods and OBSI's interaction with Canadian courts. We also discuss potential changes to OBSI's powers, notably, binding decision authority (so investment companies and advisers can no longer ignore or try to reduce financial compensation awards by OBSI). Typical consumer experiences and what to expect if you file a complaint with OBSI are covered. We also discuss the emerging challenge of cryptocurrency regulation and the types of crypto complaints OBSI receives already. Note OBSI's informative bulletin on cryptocurrency frauds here:https://www.obsi.ca/en/news/consumer-bulletin-cryptocurrency-scams-increasingly-targeting-and-exploiting-canadians.aspx
Finally, in our "Told you so" segment, PIAC and the National Pensioners Federation (NPF) celebrate a
that,
should be the case, gives some consumers (seniors, persons with disabilities, those without a home internet package from the same company) the right to request a paper bill for telecommunications (Internet, cellphone, home phone) and broadcasting (paid TV services, including cable TV, IPTV and satellite TV) service. We worked for five years to get at least this. Consumers stand up!