BUS 483 Chapter Notes - Chapter 7: Rbc Dominion Securities, Fiduciary, Rbc Records
8 Dec 2017
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A branch manager and all but two investment advisors resigned without notice from rbc dominion securities. Inc. ( rbc ) in cranbrook, b. c. and joined merrill lynch canada inc. "s ( merrill lynch ) competing office in the same city. It was coordinated by the branch manager at rbc. Two or three weeks before that, the employees removed or copied documents containing clients" financial information from rbc and sent them directly to merrill lynch. A team of merrill lynch staff, supplemented by a temporary agency, used the financial information contained in the rbc records to prepare documentation for all of the clients in the departing investment advisors" client books. This preparation facilitated the opening and handling of accounts at merrill lynch for the large proportion of clients expected to follow the investment advisors departing rbc. This process was completed well before rbc learned of the investment advisors" plans to move. Merrill lynch"s manager (delamont) who recruited rbc"s former employees.
