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ARTICLE · 21 DECEMBER 2016

December 2016 Pensions Newsletter

Blake, Cassels & Graydon LLP
Blake, Cassels & Graydon LLP
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Blake, Cassels & Graydon LLP

Blake, Cassels & Graydon LLP

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Welcome to the 16th issue of the Blakes Pensions Newsletter.

CanadaEmployment and HR
Blakes Pensions, Benefits & Executive Compensation Group
Blakes Pensions, Benefits & Executive Compensation Group
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INVESTMENT OF RETIREMENT ACCOUNTS

Webb v. TD, 2016 ONSC 7153

In 2005, a former branch manager of TD Bank (Plaintiff), after being terminated, elected to invest the commuted value of his pension in a retirement investment account with TD Waterhouse Canada Inc., TD Waterhouse Financial Planning and Kim Myers, a financial advisor and employee of TD Waterhouse Financial Planning (Defendants). By 2009 and 2010, the Plaintiff noticed that the investment did not perform as well as initially represented in 2005, and filed a statement of claim in January 2014 alleging misrepresentation, undue influence, negligence, and failure to provide or require the Plaintiff to obtain independent legal advice in the context of presumed conflict of interest and/or undue influence. The Defendants moved for summary judgment based on a limitation defence.

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