Canadian Court Lets Brokers Join Competitors

Law360, New York (January 17, 2007, 12:00 AM EST) -- A Canadian appeals court ruling in favor of RBC Dominion Securities Inc. investment advisors who joined rival Merrill Lynch Canada Inc. could make it easier for employees to join competing companies.

The three-judge Court of Appeal for British Columbia, in a split decision, ruled for nine investment advisors and five assistants who joined Merrill Lynch in 2000 - reversing a British Columbia Supreme Court ruling against the employees which fined them more than $2 million altogether. The desertion involved the majority of employees at the Cranbrook...
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