OBSI - Ombudsman for Banking Services and Investments
Grace McSorley serves as the Deputy Ombudsman at the Ombudsman for Banking Services and Investments (OBSI) since July 2017, overseeing litigation, regulatory matters, and multiple supervisory teams. Prior experience includes roles as Executive Director of Front Line Business Effectiveness and Executive Director of Business Risk, Regulatory Affairs and Governance at CIBC Wealth Management and CIBC Wood Gundy, respectively. Grace also worked as Counsel at CIBC and as an Associate at White & Case, managing various legal and regulatory issues. Educational credentials include a BA in French and Philosophy from the University of Toronto St. Michael's College, an LLB from the University of Ottawa, and a visiting student position at the University of Hong Kong.
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OBSI - Ombudsman for Banking Services and Investments
OBSI is Canada’s trusted independent dispute resolution service for consumers and small businesses with a complaint they can't resolve with their banking services or investment firm. As a free alternative to the legal system, we work informally and confidentially to find fair outcomes to disputes about banking and investment products and services. OBSI looks into complaints about most banking and investment matters including: mutual funds; bonds and GICs; stocks, exchange traded funds, income trusts and other securities; investment advice; unauthorized trading; fraud; debit and credit cards; mortgages; loans and credit; fees and rates; transaction errors; misrepresentation; and accounts sent to collections. Where a complaint has merit, OBSI may recommend compensation up to a maximum of $350,000. OBSI’s staff consists of qualified professionals from the financial services, law, accounting, dispute resolution and regulatory compliance fields. Current participating firms include: -Investment Industry Regulatory Organization of Canada (IIROC) member firms -Mutual Fund Dealers Association of Canada (MFDA) member firms -Mutual fund companies -Exempt market dealers -Portfolio managers -Scholarship plan dealers -Forex trading services -Domestic and foreign-owned banks -Credit unions -Federal trust and loan companies and other deposit-taking organizations