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ARTICLE · 29 OCTOBER 2010

Brokers' Report October 2010 Edition - Limitation Periods

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An issue that often arises in litigation against financial advisors is whether the client has brought their action in time.

CanadaFinance and Banking
John Blair, KC
John Blair, KC
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Editors: David Di Paolo and Kara Beitel

Released on Tuesday, October 26, 2010

An issue that often arises in litigation against financial advisors is whether the client has brought their action in time. Every Canadian province has limitation laws to bar late actions, but in broker cases it can be difficult to ascertain exactly when the broker went offside and, more importantly, when the client discovered that they might have a cause of action. An April 20, 2010 decision of the Alberta Court of Appeal indicates that how the action is framed against the broker can be an important factor. In that case, the client's claim for negligence was summarily dismissed, but her claim for recklessness has been allowed to proceed.

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