Tags » RBC Capital Markets Ltd

Ottawa to set new rules for bank mediators

The federal government has finally confirmed it will not force the country’s banks to resolve client disputes through the Ombudsman for Banking Services and Investments (OBSI) and is set to unveil new rules and regulations that will allow financial institutions to hire their own mediators to sort out disputes with clients. 611 more words

FP Street

Banks should be forced to use OBSI, board says

Toronto Dominion Bank’s withdrawal from using the Ombudsman for Banking Services and Investments (OBSI) to settle disputes with its aggrieved bank clients threatens the survival of the national independent resolution agency, according to OBSI’s board of directors. 629 more words

FP Street

TD bank exits national ombudsman

Toronto Dominion Bank will no longer resolve disputes with aggrieved bank clients through the Ombudsman for Banking Services and Investments (OBSI).

Effective Nov. 1, all new cases involving TD’s personal and commercial banking customers in Canada will be handled through ADR Chambers Banking Ombuds Office (ADRBO),  the bank announced Wednesday. 537 more words

FP Street

Report sets up ombudsman showdown

The rancor between Canada’s securities industry and its ombudsman is so toxic that an independent evaluator has recommended a “multi-faceted package of reforms” by regulators to break the impasse. 684 more words

FP Street

Investor groups lobby to save banking ombudsman

With a “considerable increase” of 73% in the number of consumer complaints about unsuitable investments last year, there is growing pressure on investment industry regulators to strengthen the Ombudsman for Banking Services and Investments (OBSI) amid attempts by brokerage firms to undermine the mediator. 533 more words

FP Street

Critics take aim at TD directors on OBSI

Industry representatives on the board of the Ombudsman for Banking Services and Investments (OBSI) are coming under fire from consumer groups for what they argue is an apparent conflict of interest. 651 more words

FP Street

U.K. ombudsman takes aim at banks

While a group of major Canadian bank-owned investment dealers are trying to opt out of using the Ombudsman for Banking Services and Investments (OBSI), the U.K.’s Financial Ombudsman Services has some harsh words for that country’s financial firms in its annual review. 332 more words

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