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


Securities Regulatory 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.

Contributor's Profile