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Compliance Corner - Nomura, RBS, Others

Editorial Staff

27 June 2018

Nomura, RBS
The US Supreme Court has declined to hear an appeal brought by  regarding trailing commissions paid to discount brokers on Scotia and Dynamic mutual funds, media reports have said.

According to Canadian newswire, Times Colonist, Law firms Siskinds and Bates Barristers have alleged investors who hold the funds in discount brokerages receive no value for the trailing commissions paid.

The allegations have not been proven in court.

Scotiabank's 1832 is the trustee and manager of Scotia and Dynamic mutual funds. The firm declined to comment on the matter, as it is still before the courts.