
The Ontario Superior Court of Justice in Silva v. Royal Bank of Canada, 2026 ONSC 3841 should be a siren call for all financial institutions who purport to fire an employee for cause. After filing a Notice of Termination on the National Registration Database (NRD) that incorrectly asserted cause for the plaintiff’s termination, RBC was found liable for wrongful dismissal and ordered to pay over $2.5 million in damages to the terminated employee, including $250,000 in punitive damages. Background: Ravini Silva was a financial planner employed by RBC working under the banner of RBC’s mutual fund dealer, Royal Mutual Funds ... [more] Full article