Divisional Court denies leave to appeal in Trailing Commission class action
In Stenzler v TD Asset Management Inc., the Ontario Divisional Court recently denied an appeal by TD Asset Management Inc. (“TDAM”) from a decision certifying the Plaintiff’s action to recover trailing commissions he alleges were improperly paid by TDAM to Discount Brokers1. TDAM pays traili…
View the post titled Divisional Court denies leave to appeal in Trailing Commission class actionRecent Developments in Securities Class Actions: Pre-Certification Jurisdictional Challenges
Today, capital markets are essentially borderless. Stock exchanges with physical trading floors have become an anachronism. Electronic transactions are the norm. With the click of a button, Canadian investors can buy and sell securities of foreign companies on foreign stock exchanges. But wh…
View the post titled Recent Developments in Securities Class Actions: Pre-Certification Jurisdictional ChallengesA good day for do-it-yourself investors: The CSA proposes to prohibit the payment of trailing commissions to discount brokers
On June 21, 2018, the Canadian Securities Administrators (“CSA”) released a Status Report on their ongoing investigation into embedded commissions in the mutual fund industry. “Embedded commissions” is the term used to describe the practice of mutual fund managers compensating dealers (and t…
View the post titled A good day for do-it-yourself investors: The CSA proposes to prohibit the payment of trailing commissions to discount brokersTowards a More Cooperative Canadian Class Action Regime: CBA Adopts Revised Judicial Protocol on Multijurisdictional Class Actions
Class actions will often address wrongs and harm that transcend the borders of a single Canadian province. A faulty medical device might be distributed across the country and wreak its harmful effects upon residents in many or all provinces. Similarly, when a public company misleads its inve…
View the post titled Towards a More Cooperative Canadian Class Action Regime: CBA Adopts Revised Judicial Protocol on Multijurisdictional Class ActionsThe Supreme Court of Canada Provides Guidance on Preferable Procedure and Access to Justice
On December 12, 2013, the Supreme Court of Canada released its decision in AIC Limited v Fischer, 2013 SCC 69, which provides very useful guidance on the preferable procedure requirement for certification, particularly on the meaning of access to justice in the preferability analysis. On Dec…
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