THE COURTS: On August 8, 2006, the Ontario Superior Court of Justice again considered the prospective rights and obligations of a brokerage firm and client with respect to investments and investment losses. In Davis v. Orion Securities Inc., the plaintiff had brought an action against Orion Securities Inc. (formerly Yorkton Securities Inc.) for damages for breach of contract and negligence.
LEGISLATION: The duty of both brokerage firms and brokers to protect confidential client information is well-recognised by the Courts and the regulators. Confidential information can only be divulged to third parties with the clients' consent. This duty has been underscored by the federal Personal Information Protection and Electronic Documents Act (PIPEDA or the Act). Since January 1, 2004, the Act has been applicable to the brokerage industry.

type Brokers' Report - November 2006