How long do I have to bring a complaint to OBSI?

There are two clocks: a period after the firm's final response, and an overall limit measured from when you knew or ought to have known about the problem. Both are strict, so refer early rather than negotiating indefinitely with the firm.

Do I have to accept OBSI's decision?

No. Its recommendations are not binding on you, and you can pursue court instead — but watch the limitation period, which runs while the OBSI process continues.

Ombudsman for Banking Services and Investments (OBSI) — Your Rights & How to Escalate a Matter

Ombudsman for Banking Services and Investments (OBSI): Your Rights

OBSI is the free, independent dispute resolution service for banking and investment complaints in Canada. It is not a regulator and not a court: it investigates, and can recommend compensation up to its limit. Understanding its time limits is essential, because they are a common reason complaints are refused.

Matters Lawyers Handle in This Sector

Investment suitability and unsuitable advice
Unauthorised or excessive trading
Fee and disclosure disputes
Transfer delays and administrative errors
Banking service and account complaints

Your Rights

A free, independent investigation
A compensation recommendation where the firm was at fault
The ability to reject the outcome and pursue court instead
A written explanation of the finding

How to Escalate a Matter

1Firm complaint process
Mandatory first step — OBSI generally requires you to complain to the firm first and allow the regulated response period.
2OBSI
Refer within the time limit after the firm's final response, and no later than the overall limit from when you knew of the problem.
3Court or arbitration
Available if you reject OBSI's outcome, subject to limitation periods.

Escalation routes and their requirements change. Confirm the current process before relying on it.

Frequently Asked Questions

How long do I have to bring a complaint to OBSI?: There are two clocks: a period after the firm's final response, and an overall limit measured from when you knew or ought to have known about the problem. Both are strict, so refer early rather than negotiating indefinitely with the firm.
Do I have to accept OBSI's decision?: No. Its recommendations are not binding on you, and you can pursue court instead — but watch the limitation period, which runs while the OBSI process continues.
Does it cost anything?: No. OBSI is free to consumers.

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