Francis Roy

The respondent, a mutual fund dealing representative, managed the investments of an elderly, vulnerable client who was diagnosed with terminal cancer.

Shortly before her death, the client executed a will and powers of attorney naming the respondent as her power of attorney for property and personal care, alternate executor, and sole beneficiary of her estate.

The respondent failed to report these appointments and the testamentary gift to his dealer firm, contrary to MFDA Rules and the firm's policies and procedures regarding conflicts of interest.

The Capital Markets Tribunal found that the respondent breached MFDA Rules and his firm's policies, and that his failure to address these conflicts of interest constituted a breach of his statutory obligation under OSC Rule 31-505 to deal with his client fairly, honestly, and in good faith.

Costs endorsement following an appeal and cross-appeal.

The court awarded costs of the appeal and cross-appeal to the respondent (appellant-by-cross-appeal) on a partial indemnity basis, fixed at $27,500 inclusive of disbursements and GST.

The appellant appealed a decision granting declaratory relief to the respondent regarding an easement and an undertaking to grant a further access easement.

The appellant argued the easements were conditional on the respondent building a synagogue on its retained lands, which it later decided to develop for residential purposes.

The Court of Appeal dismissed the appeal, finding no language in the agreements or undertaking restricting the use of the easements to a synagogue, and no evidence that the change in use would increase the burden on the servient tenement.

The respondent's cross-appeal to stay the discharge of a Certificate of Pending Litigation until the easement was registered was allowed.