What is the test for a fiduciary relationship between a registered investment dealer and a client?

Ontario, Canada


The following excerpt is from Boal v. International Capital Management Inc., 2022 ONSC 1280 (CanLII):

In Sharp v. Royal Mutual Funds Inc. 2020 BCSC 1781, the certification judge found that the plaintiff had not “pled any material facts to support a finding of fiduciary duty” in a situation where the basis for the assertion of the relationship were the rules that governed the defendant as a registered investment dealer. In that decision the court states:

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