Trailer Fee Class Actions Allowed to Proceed
Proposed class action lawsuits against fund managers over trailer commissions to discount brokers can proceed, an Ontario court has ruled.
A trio of firms - BMO Investments Inc., Natcan Trust Co., and National Bank Investments Inc. - appealed a lower court ruling from November 2024.
- The firms were targets of proposed class actions filed in 2018 over trailer fee payments.
- The court upheld a lower court decision, allowing the lawsuits to proceed.
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Author's summary: Ontario court allows trailer fee class actions to proceed.