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

Flannigan, Robert, Stock Broker Mutation (October 20, 2020). (2020) 63 Canadian Business Law Journal 257, Available at SSRN:

Robert Flannigan (Contact Author)

University of Saskatchewan ( email )

15 Campus Drive
Saskatoon, Saskatchewan S7N 5A6
306-966-5876 (Phone)
306-966-5900 (Fax)

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