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OBSI has released its annual report for 2014. Here are the highlights:

  • 252 case files ended with monetary compensation to the client, worth a total of $4,264,201. This represents 33% of all closed case files.
  • 14% of banking complaints (31 of 223) and 42% of investment complaints (252 of 531) ended with monetary compensation.

Read: How to deal with client complaints

  • 9 complaints ended in some form of non-monetary restitution, four banking and five investment complaints.
  • 8 case files ended with firms refusing to compensate their clients, representing 1.1% of all closed files.

Here’s where complaints are coming from:

Ontario – 51%

British Columbia – 17%

Québec – 12%

Alberta – 8%

Manitoba – 5%

Saskatchewan – 3%

Nova Scotia – 2%

Read: OBSI defends naming and shaming

New Brunswick – 1%

Newfoundland and Labrador – 1%

International – 1%

Prince Edward Island – 0%

Nunavut – 0%

Northwest Territories – 0%

Yukon – 0%

Read: Give OBSI enforcement powers, says investor panel

Originally published on Advisor.ca

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