Thursday, December 24, 2020
Robert Flannigan recently published an article entitled, Stock Broker Mutation, Wills, Trusts, & Estates Law ejournal (2020). Provided below is the abstract to the Article.
The principle that agents are status fiduciaries does not apply to stock brokers in Canada. Though brokers are agents with respect to their trading function, the Supreme Court has said that their agent status does not make them accountable as status fiduciaries. I will explain how that mutation developed. I will show that the Supreme Court misconstrued the prior law, and that there is no present justification for the lesser accountability of stock brokers.