The Ombudsman for Banking Services and Investments (OBSI) recommended $4.7 million in client compensation last year, up slightly from 2014, as its complaint volumes held constant, according to the dispute-resolution service’s annual report, which was published on Wednesday.

In particular, OBSI recommended compensation in 35% of the cases it ruled on during the year, upholding 22% of bank complaints and 43% of investment complaints. Just less than $4.7 million in total compensation was recommended during the year, comprised of $4.4 million in investment cases and $300,000 in banking cases. In 2014, OBSI recommended $4.3 million in client compensation. However, firms refused OBSI’s compensation recommendations in six cases, the report notes.

Overall, complaint volumes in 2015 were in line with the previous year, the report says. However, OBSI did see a 21% increase in banking complaints, which was offset by a 14% decline in investment complaints compared with the previous year. In total, OBSI launched 571 investigations in 2015, of which 272 were on the banking side, up from 225 cases in 2014. At the same time, investment cases declined to 298 from 345 in 2014, which was already down notably from the 446 cases that were opened in 2012.

The top complaints in the investment cases involve suitability, as well as poor product and fee disclosure, the OBSI report says. In addition, OBSI has seen a rise in complaints involving securities in resources sector firms and received a handful of complaints, most of which involved suitability, from clients of portfolio managers and exempt-market dealers (EMDs), which are now also required to use the dispute-resolution service.

On the banking side, the top issues raised in client complaints were fraud (particularly involving debit and credit card products), account collections, mortgage prepayment penalties and service issues.

OBSI is currently undergoing an independent review of its operations and practices, which is periodically required. A report detailing the results of the review, and any reform recommendations, is expected later in the spring.