The Supreme Court of B.C. ruled that an executor overstepped her duties when she opposed the efforts of a dead man’s children to recover assets the man sought to keep out of his estate. While the executor may have believed she was respecting the deceased’s wishes, her loyalty is to the estate, not to an inter vivos transferee, the court said.

The Canadian Investment Regulatory Organization’s arbitration program, an often forgotten option for aggrieved investors, is set for an overhaul that would extend the program to mutual fund dealers and their clients. It would also introduce a $350,000 floor for claims, while raising the upper limit to $1 million from $500,000. Positioning the program to deal with disputes involving amounts between $350,000 and $1 million “will provide investors with more comprehensive and flexible avenues for seeking complaint resolution,” the regulator said. The consultation on the proposal runs to Jan. 31.

In this week’s edition, financial advisors made some big moves, whether going independent or moving between or within firms. Reporter Katie Keir provides the details.

Ontario’s government has proposed a licensing regime for independent intermediaries, such as managing general agents. The move would help “clarify the roles and responsibilities of insurers, distributors and agents,” the government said. Read more about Ontario’s plans, as well as its commitments in other areas of the industry.