Bank and Investment Ombudsman Quid Pro Quo's

Bank and Investment Ombudsman Quid Pro Quo's
Posted on January 25, 2020 | Larry Elford | Written on January 25, 2020
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Author's Note:

Author's Note:

OBSI job applicants submit resumes to the CANADIAN BANKERS ASSOCAITION? It is no longer a stretch for now say that OBSI is yet another Canadian financial fraud perpetrated upon Canadians.   I was sent this information from someone who has dealt unsuccessfully with OBSI, Canada's official Ombudsman for Banking Services and Investments.

They claim a manadate to protect consumers and to inspire confidence in Canada's Financial Services Sector.

They fail to point out that their one of their inner secrets is that OBSI selects its workers from a process of vetting them through the Canadian Bankers Association.  Now it all makes more sense why the results of OBSI appear to be the exact opposite of the stated intent of OBSI. 

They are yet another industry "insulator", a tainted regulator dressed in the disguise of public protection.  The list is now too long to include here.  Investors Beware!

Email sent to me today from someone who has received no help from OBSI for years and years of trying:

Can you believe this OBSI directive ?

Please see the bottom of the linked OBSI announcement of how to apply for an Investigator position with the OBSI.    

You might want to make some enquiries of the OBSI Chairman for clarification as to why the Canadian Bankers Association (CBA) were used as the recruiting agent for the "independent" and "impartial" OBSI ! 

This could explain why, in the past, there have been so many financial services (née banking) ex-employees who have chartered their career paths through the "Revolving Door Syndrome" to and from the OBSI.

This is not idle speculation.    The indisputable facts that questions the OBSI past attraction for the said employees and those employees using their past-employment leverage for their own self-enrichment is clearly spelled out in the attached "The Revolving Door Syndrome" presentation.  

How are the Regulators going to neutralize this situation that improves the basic principles of balance to be more in favour of Complainants ?   

Your comments would be welcomed.

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Here is the compiled OBSI linked announcement -

 

https://www.obsi.ca/en/about-us/resources/Documents/Senior-Investigator2_2018.pdf

 

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About The Author

elford's picture

His 2018 Book "About Your Financial Murder..." is found on Lulu.com  http://www.... More