OBSI SWAMPED WITH COMPLAINTS

The number of complaints against the financial services industry has soared in the past year, with a 48% increase in new cases opened by the Ombudsman for Banking Services and Investments (OBSI).


"In 2009, OBSI reviewed more complaints than ever before in its history," wrote Douglas Melville, who was appointed Ombudsman in August 2009. "The global economic crisis, coupled with sharp declines in financial markets, gave rise to record volumes of consumer inquiries and complaints."

Read entire article:

http://www.advisor.ca/advisors/news/industrynews/article.jsp?content=20100629_133401_2340

Steven Lamb
Advisor.ca
June 29/2010

For the full OBSI report:

http://obsi.ca/images/document/up-OBSI_Annual_Report_2009.pdf