Stock Broker Mutation
(2020) 63 Canadian Business Law Journal 257
Posted: 30 Nov 2020
Date Written: October 20, 2020
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.
Keywords: stock broker, fiduciary duty
Suggested Citation: Suggested Citation