The Litigator

THE LITIGATOR

Commentary on Law Affecting Business

The Litigator
AGM :: Affleck Greene McMurtry LLP

THE LITIGATOR

Affleck Greene McMurtry LLP
365 Bay Street, Suite 200  ·  Toronto, Canada
416 360 2800  ·  info@agmlawyers.com  ·  www.thelitigator.ca

IIROC guidance highlights limitations on limitation of liability clauses in retail client account agreements

“By signing below, you agree not to sue me.” Not so fast, says Canada’s primary regulator of investment dealers. On October 10, 2019, the Investment Industry Regulatory Organization of Canada (IIROC) issued what it called a Guidance Note regarding exclusion of liability clauses in  retail client account agreements that it sees as inconsistent with investment dealers’ regulatory obligations. IIROC published this guidance after noticing objectionable clauses in its review of investment dealers’ agreements that either purport to exclude dealers’ liability for client losses completely, arbitrarily limit damages from breaches by the dealer, or attempt to relieve dealers from securities law ... [more] Full article

Alberta court declines to certify class action alleging negligent performance of investment advisory services

A proposed class proceeding for alleged negligent performance of investment advisory services was recently denied certification by the Court of Queen’s Bench of Alberta. In Fisher v Richardson GMP Limited, ... [more] Full article

Ignorance Is Not Bliss: Market Registrants Beware

A market registrant’s lack of actual knowledge of the source of tip or their tipper’s relationship to an issuer will not protect them from liability under the Securities Act, according ... [more] Full article

IIROC and MFDA Can Now Collect Fines in Court

On May 17, 2017, Bill 127 amended the Securities Act which allows both IIROC and the MFDA to file their  disciplinary decisions with the Superior Court of Justice as enforceable ... [more] Full article


Broker/Dealer litigation Contributors

Kenneth A. Dekker

Kenneth A. Dekker

Affleck Greene McMurtry LLP

Kenneth Dekker, a partner of the firm, is a successful trial and appellate lawyer who is valued by his clients as a resourceful and practical litigation counsel. Over more than two decades, Ken has litigated noteworthy cases in a range of fields that include class action defence, securities and broker-dealer litigation and regulatory defence, corporate and shareholder disputes (including oppression and winding up cases), defamation, civil fraud litigation, disputes over contracts, injunctions, professional liability litigation, employment litigation and cross-border litigation issues. Ken has appeared before all levels of courts in Ontario, including the Ontario Court of Justice, the Superior Court of Justice, the Divisional Court and the Court of Appeal for Ontario, as well as before the Supreme Court of Canada. Ken also represents and advises clients in regulatory matters before the Investment Industry Organization of Canada (IIROC), the Mutual Fund Dealers Association of Canada (MFDA) and the Ontario Securities Commission (OSC). Ken has been recognized for Corporate and Commercial Litigation by Best Lawyers of Canada and has been given the highest available rating of AV, or pre-eminent, by his peers on Martindale-Hubbell.

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Peter R. Greene

Peter R. Greene

Affleck Greene McMurtry LLP

Peter is a widely recognized and renowned litigator with substantial expertise in high profile and complex Commercial Litigation at the trial and appellate levels. Peter acts as counsel for insurance companies on professional liability, E&O claims, Director's and Officer's liability, and surety, fidelity and dishonesty bond claims. He has particular expertise in securities litigation and Regulatory Hearing, and has acted for Canada's largest investment firms. He regularly acts as defence counsel in large Class Actions before the courts in Ontario, and before national and provincial Regulatory agencies, boards and tribunals. Peter is regularly involved in large product liability and construction contract cases involving Construction Liens or Surety Bonds.

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Meredith Hayward

Meredith Hayward

Affleck Greene McMurtry LLP

Meredith has earned an impressive reputation for her skill and abilities in Commercial Litigation and Administrative Law, appearing at all levels of court in Ontario, before the British Columbia Court of Appeal, and before the Supreme Court of Canada.

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Masiel A. Matus

Masiel A. Matus

Affleck Greene McMurtry LLP

Masiel has a broad commercial litigation practice and represents both national and international clients in a variety of complex matters. Masiel has experience litigating cases involving professional negligence, commercial leasing and real property disputes, insurance, contract disputes, shareholder disputes, fraud, breach of fiduciary duty, breach of trust, employment matters and defamation claims.

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Christopher Somerville

Christopher Somerville

Affleck Greene McMurtry LLP

Chris Somerville has a record of diligent and resourceful advocacy in a wide range of cases. His experience and skills cover commercial and civil litigation in general, and securities litigation, administrative law, and employment disputes in particular.

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