There are few, if any, legal issues affecting the investment industry that are more cloudy and less certain than whether investment firm clients belong to the investment advisor or to the investment firm. And there are arguably few issues more important.  An investment firm’s financial bottom line is tied to the number of clients and [...]

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There are few, if any, legal issues affecting the investment industry that are more cloudy and less certain than whether investment firm clients belong to the investment advisor or to the investment firm. And there are arguably few issues more important. This question has been the subject of several widely divergent – and even confusing – court decisions on the issue over the past few years.

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Last fall, the Ontario Court of Appeal overturned an order enforcing a request for international judicial assistance (also known as letters rogatory) that sought to compel a former executive of a Talisman Energy Inc. subsidiary to be deposed in a U.S. action.

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Do high service charges exacted by MBNA for credit card cash advances constitute a criminal rate of interest? This is among the issues certified as a class action by the Ontario Court of Appeal in Markson v. MBNA Canada Bank. The court held that the bank could not rely on its failure to keep data to escape certification.

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THE LITIGATOR – Review of Competition Law – April 2007

Contributors: Michael Osborne , Jennifer Cantwell, Kyle Peterson , Sonny Ingram, Michael Binetti, and Adam Wygodny

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Appeal court revises test for abuse of dominant position
In identifying anti-competitive acts, one must ask whether the conduct had an intended predatory, exclusionary or disciplinary effect on a competitor, not on competition, the Federal Court of Appeal held in overturning the Tribunal’s 2005 finding that Canada Pipe’s rebate program was not anti-competitive….

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