In this week's edition:

Toronto-based pension provider Blue Pier Administration Corp. has sued Scotiabank for $700 million, claiming the bank’s physician-focused Medicus Pension Plan was built on the back of confidential information supplied by Blue Pier. Michael McKiernan reports.

If you stay, you get paid. Richardson Wealth will grant a total of $15.2 million in bonuses to advisors who were with the firm in 2020 and remain until at least November 2026. Kish Kapoor, CEO of parent company RF Capital, said advisors who controlled approximately 91% of Richardson Wealth’s assets in Oct. 2020 are still with the wealth management firm. Rudy Mezzetta reports.

Last year, several clients were victims of a data hack involving financial services firms and file transfer service GoAnywhere. Since then, four class-action lawsuits have been filed in relation to the incident. However, since the suits originate in different provinces, no single provincial court can decide which case goes forward. Michelle Schriver tells you what clients need to know.

Contrary to disclosures, fund assets are the primary driver of a portfolio manager’s compensation, finds a working paper published by the U.S. National Bureau of Economic Research. Turns out, investment performance primarily impacts fund managers’ compensation through the effect on AUM.