Failure to Disclose Fees on Investment Accounts can be a Breach of Fiduciary Duty
On February 28, 2020, a judge of the Ontario Superior Court granted judgment in a class action and awarded an accounting of the profits realized by three Bank of Montreal subsidiaries on approximately $102.9 million in undisclosed foreign currency conversion fees. The fees were charged over the course of ten years to clients holding RRSP and other registered investment accounts. In MacDonald et al v. BMO Trust Company et al, 2020 ONSC 93 (“MacDonald”), the plaintiffs had eight years earlier certified as a class action a proceeding that alleged that BMO Trust Company, investment dealer BMO Nesbitt Burns and discount brokerage ... [more] Full article
Alberta Court rules that an Alberta Securities Commission administrative penalty can survive bankruptcy
On January 17, 2020, Justice Romaine of the Alberta Court of Queen’s Bench released a potentially monumental decision in Alberta Securities Commission v Hennig. The decision arose out of an ... [more] Full article
Securities Regulatory Contributors
Karen Bernofsky
Karen Bernofsky is a strong advocate with a focus on commercial litigation and delivering cost-effective solutions. She advises and represents clients in a broad range of complex insurance matters, construction matters and commercial disputes, including breach of contract and invoice disputes. Karen is also a skilled negotiator with a proven track record in effective mediation advocacy. She has appeared before all levels of courts and administrative tribunals in Ontario as well as before the Federal Court of Canada.
Jacob Millar
Jacob Millar is a versatile lawyer who as a law student and articling student has gained experience in civil and criminal litigation and administrative matters in Ontario, Nova Scotia and the U.K. As an associate with the firm, Jacob represents and advises clients in all manner of commercial disputes and competition law matters.
- The US Patent and Trademark Office Bans AI From Being Granted Patents
- The Supreme Court’s Nevsun Decision Firmly Incorporates Customary International Law into Canadian Common Law in the Class Action Context
- Alberta Court rules that an Alberta Securities Commission administrative penalty can survive bankruptcy
