The appellants, financial planners, recommended investment projects to their clients and received commissions from the promoters without adequately disclosing these commissions to their clients.
They were acquitted at trial of accepting secret commissions under s. 426(1)(a) of the Criminal Code, but the Court of Appeal ordered a new trial.
The Supreme Court of Canada dismissed the appeal, holding that a corrupt bargain is not required for the offence, and that a new trial was necessary to determine whether the disclosure made by the appellants was adequate and timely.
