Class action lawsuit filed against CIBC for trailing commissions
Firms have proposed similar suits against Scotiabank and TD
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READ: How to choose a discount brokerageThe allegations have not been proven in court. The case filed by Siskinds LLP and Bates Barristers PC seeks compensation for those investors. Siskinds and Bates Barristers have filed two other similar cases related to trailing commissions on mutual funds sold through the discount brokerage channel. The firms have proposed a class action case against Scotiabank’s 1832 Asset Management LP as well as another against TD Asset Management Inc., the trustee and manager of TD mutual funds.
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