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- Canada's brokerage industry watchdog, the Investment Industry Regulatory Organization of Canada (IIROC), says the buying and selling of a security by an adviser without the proper consent of the client is considered unauthorized or discretionary trading and is a violation of its rules. The rules do have some exceptions.
www.theglobeandmail.com/globe-investor/when-can-an-adviser-make-trades-without-your-approval/article30543843/
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use of those regulations when a financial advisor is sued by a client. This paper also addresses the duties and obligations financial advisors owe to their clients – contractual, tort, and fiduciary.
Oct 3, 2019 · Canadian regulators are rolling out new national standards governing the relationship between clients and financial advisors — including how conflicts of interest are handled — but the changes, which stop short of imposing a fiduciary or universal “best interest” standard, come as a disappointment to some investor advocates.
- Barbara Shecter
Jun 22, 2016 · Canada's brokerage industry watchdog, the Investment Industry Regulatory Organization of Canada (IIROC), says the buying and selling of a security by an adviser without the proper consent of...
- Civil Liability
- Recent Civil Cases
- The New Sro
The most common claims made against investment advisors are in negligence, breach of fiduciary duty and breach of contract, with fraud claims less common.
While most claims brought against investment advisors do not proceed to trial, there are usually a handful of cases each year that result in court published decisions. Since published decisions are relatively rare, they must be scrutinized carefully to determine whether the decision fits within existing authority or whether there are facts that are...
Historically, investment advisors in Canada have been regulated by two separate self-regulatory organizations under the authority of the provincial Securities Acts: the Mutual Fund Dealers Association (MFDA) and the Investment Industry Regulatory Organization of Canada (IIROC). Effective Jan. 1, 2023, the MFDA and IIROC merged to become a single se...
Mar 23, 2016 · In short, discretion is the ability to make and implement trades for a client without first getting the client’s permission. Along with discretion comes the fiduciary responsibility to act in the client’s best interests.
- David John Marotta
May 28, 2023 · If you think you have a legitimate dispute with your broker or advisor, there are a couple of steps you can take. But the first step is to contact your firm's branch manager or compliance ...
Oct 2, 2018 · There may be areas in which your advisor or financial planner doesn't have the subject matter knowledge or the legal qualifications to complete a certain portion of your financial...
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