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ebessner@casselsbrock.com

Telephone: 416 860 6514
Fax: 416 642 7159

Cassels Brock & Blackwell LLP
2100 Scotia Plaza
40 King Street West
Toronto, ON M5H 3C2
Canada

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Profile

Ellen Bessner

Ellen is a litigation partner whose practice focuses on acting for corporations in commercial litigation, regulatory defence, professional liability, securities class action proceedings, and employment disputes. She has developed a special niche representing public issuers, investment dealers, mutual fund dealers, Portfolio Managers, compliance officers, branch managers/supervisors, and advisors in Ontario courts of all levels and at various regulatory tribunals, including OSC, TSX, TSX-V, IIROC and MFDA, OSC.

Ellen’s well-regarded book, Advisor at Risk, a Roadmap to Protecting Your Business, available at Chapters/Indigo, is considered a leading risk-reduction tool in the area. Ellen has developed comprehensive programs to instruct advisors/agents/traders and their supervisors in reducing litigation and regulatory risk, presenting on liability, ethics and compliance. Her courses qualify for continuing education credits.

She is a frequent speaker at industry conferences, writes for national, business and industry press, has appeared in television media interviews and is quoted in numerous publications on issues related to litigation, regulatory and employment matters.

TO PURCHASE: Advisor at Risk is available at Chapters/Indigo or for corporate volume discount pricing contact Ellen Bessner, Author or Penny Shore, Publisher.

Representative Work

Retained to represent several public issuers in respect of allegations by TSX, TSX-V.
Retained to represent Advisors in litigation defending against complaining clients in respect of suitability and discretionary trading.
Retained to represent Advisors of MFDA and IIROC in respect of allegations of compliance infractions.
Defending Dealers in actions by Advisors and Traders for wrongful dismissal.
Retained to represent several investment Dealers in the Portus class action proceedings and settled the matter favourably for her clients before the class was certified.
Represented securities Dealers and settled on very favourable terms a multi party case in proceedings claiming investment losses and leverage loans.
Represented employers in wrongful dismissal matters as well as supports companies with terminations and the negotiation of contractual terms and conditions. Successfully defended a $6,000,000 claim at trial and at the Court of Appeal for wrongful dismissal and other claims: David Samuel Solomon v. Levesque Securities Inc. [1997] O.J. No. 3733 (C.A). She also represents clients at the Human Rights Tribunal concerning allegations of discrimination.
Represented branch manager in Market Regulation Services (RS) matter in which his supervision was in question. RS found against the branch manager but ordered that he not be penalized or suspended for the alleged infraction
Represented branch manager at the IDA whose licence was suspended and was able to successfully contest the suspension to reinstate his license
Represented Advisors in regard to allegations by the MFDA that Advisors were engaging in outside business activities
Represented mutual fund Dealers in class action proceedings and settled the matter before the class action was certified
Represented securities Dealers in matters in which several clients commenced proceedings alleging unsuitable investments and unsuitable strategies including leverage loans
Represented limited market Dealers at the OSC in regard to issues of suitability
Represented dually licensed Advisor in FSCO penalty hearing in which staff sought a suspension and limited suspension was ordered

Presentations and Publications

Speaking Engagements

Ellen's extensive list of speaking engagements includes the following industry conferences:

Investment Executive Webinar – “Lawyer Protect Your Practice With 4 Cs of Documentation” – September, 2011
Seminar - “Insider Trading,” September 14, 2011
BNN – “Compliance in the Exempt Market,” June, 2011
NSCP – “Everything You Ever Wanted to Know About Audits, Sweeps and (avoiding) Enforcement But Were Afraid to Ask,” June 13, 2011
ACCP – “KYC and Prove It,” May 2, 2011
IIROC Webcast, December 14, 2011
CLS Annual Conference, December 2, 2010
Complinent Webinar, September 28, 2010
IPC National Conference, September 14, 2010
IIROC – “Know Your Client, Documentation, Know your Product, Communication,” Webcast, August 24, 2010
ADVOCIS – The Ontario School 2010, July 27, 2010
Association of Canadian Compliance Professionals' 9th Annual Compliance Forum: Navigating the Regulatory Maze - "Point of Sale & Other 'Hot' Button Topics," May 10, 2010
Mindpath - "The Buying & Selling of Financial Advisory Practices, 4th Edition: The New Landscape," May 4, 2010
Strategy Institute, Mutual Fund Point of Sale Strategies - "Meeting Compliance Obligations for Advisors: How Can You Prove Delivery?," April 14, 2010
Canadian Foundation for Advancement of Investor Rights and The Hennick Centre for Business and Law - "The Fiduciary Standard and Beyond: Rethinking the Financial Advisor-Client Relationship," March 25, 2010
The Canadian Institute, 20th Annual Securities Superconference - "The Latest Word on Securities Enforcement," February 24, 2010
Professional Advisory Group of the Baycrest Foundation - "Advisor at Risk - a Roadmap to Protecting Your Business," October 27, 2009
The Canadian Institute - Co-chair of two-day seminar on "Payment Card Compliance in Canada" and moderator/speaker on Anti-Money Laundering panel, February 5, 2009
ADVOCIS London Chapter - "Advisor at Risk - A Roadmap to Protecting Your Business"
NSCP, Philadelphia, PA - "Branch Managers and Their Duty to Supervise," October 20, 2008
ADVOCIS, Vancouver Island Chapter - "Advisor at Risk - How to Protect Your Business," September 18, 2008
IIAC - "Navigating the Road Ahead: Building Paths for Success," June 22, 2008
Federated Press - "Compliance for Investment Portfolio Managers," May 28, 2008
ACCP - "Invisible Clients," May 5, 2008
Mindpath - "Compliance Issues When Selling or Buying a Business," April 28, 2008
Advocis, Golden Triangle Chapter - "Advisors: Manage Your Business to Protect Yourself," March 19, 2008
National Society of Compliance Professionals, Canada, March 3, 2008
Advocis, London Chapter, "Advisors' Liability Training," November 13, 2008
IDA-CLS - "Servicing Seniors," December 4, 2007
The Canadian Institute - "Winning Strategies to Litigation and Resolve Disputes in the Capital Markets Battleground," November 28, 2007
Manitoba Securities Commission - "Rogue Clients and Future Legal Challenges," October 23, 2007
NSCP, U.S. - "NSCP National Meeting Faculty Placement Confirmation," October 20, 2007
Mindpath Financial - "Compliance Issues for Sellers and Buyers"
Women's Executive Network - "Legal Issues for Board Members"
Advocis Golden Triangle Chapter - "Compliance Day," October 18, 2007
NSCP - "Keeping Up with Product Change"
LOMA - "How the Security Industry can Prepare for Future Legal Challenges"
Mindpath Financial - "Buying and Selling Financial Advisory Businesses"
Uniform Termination Notice - Significant US Case, April, 2007
ACCP - "Stealth Advisors and Other Hot Button Issues for the MFDA"
CFA - "Desperately Seeking Suitability"
Advocis London - "The Client Complaint - Legal Principles," January 18, 2007
Advocis Simcoe-Muskoka Chapter - "Advisors: Manage Your Business to Protect Yourself," September 29, 2006
Ontario Securities Commission - "IC/PMs and Compliance" (trained investigators on issues of compliance for IC/PMs), September 25, 2006
National Society of Compliance Professionals - "How to Build a Compliant Business"
Advocis South Saskatchewan Chapter - "Spring Professional Development Day," May 11, 2006
IMCA - "Conflicts of Interests and How Advisors Can Minimize Personal Exposure"
Peel Institute of Applied Finance - "Defending Advisors in Lawsuits"
Advocis - "The 10 Myths of Advisors Independence"
IFIC - "The 10 Compliance Myths," May 9, 2005

Dealer Presentations

Ellen has provided presentations to bank owned and independent dealers across Canada from the 1990s to present on issues of compliance. She has attended every major city across Canada to teach advisors how to manage their businesses to protect themselves and minimize the risk of litigation and regulatory enforcement matters. More recently, she is providing training that complements her best-selling book entitled Advisor at Risk, A Roadmap to Protecting Your Business. She has also developed and provided online training in both the retail and institutional markets. Below is a list of some of the titles of her programs:

Advisors at Risk, a roadmap to protecting your business
Branch Managers at Risk, a roadmap to protecting your business
Branch Managers' Duty to Supervise (IIROC, MFDA, FSCO)
The 10 Commandments of Managing Your Business to Protect Yourself
The Professional Advisor
Rogue Clients - Identify and Manage
How to Manage Clients' Expectations and More
How to Build a Compliant Business
Risks, Identify and Resolve
Teach Advisors to Protect Themselves
The Paper Trail
The Credibility Battle
How to Prepare for Future Challenges
Seniors - This is a Different Market
Products - What You Need to Know
Limited Market Dealers and Compliance

Published Books and Articles

“Investment Advisors Cautioned: Beware of Suitability Risks,” Thomson Reuters Accelus (November 2011)
“Advisors at Risk: How to Protect Your Business,” On The Risk Magazine (September 2010)
The TASK - The Trusted Advisor's Survival Kit (Lexisnexis, 2009)
"Why RRSP Season is Different This Year," National Post (January 2009)
Advisor at Risk, A Roadmap to Protecting Your Business (Shore Publishing, 2008)
"Winning the Credibility War," National Post (December 2008)
"Know Your Clients at Every Stage," National Post (November 2008)
"Helping Clients Through the Crunch," National Post (October 2008)
"Coping with Senior Clients' Risk Tolerance," National Post (August 2008)
"Landmark Verdict on Trading," National Post (May 2008)
"Diligence Helps Combat Fiscal Fraud," National Post (December 2007)
"Justice Relies on Timelines," National Post (November 2007)
"Caution Needed When Conducting Due Diligence: If An Issue Sounds Too Good To Be True, It Probably Is," National Post (September 2007)
"Even Senior Clients Deserve Attention," National Post (July 2007)
"Know Your Client Rule has No Age," National Post (July 2007)
"Reluctant Cops on the Crime Beat," National Post (May 2007)
"Return of the Invisible Client," National Post (April 2007)
"The Dangerous Invisible Client Strikes Again," National Post (April 2007)
"Brace Yourself for Tougher Client Scrutiny," National Post (March 2007)
"Let Fear Motivate, Not Greed," National Post (January 2007)
"Cautionary Tale for Bank-Owned Dealers," National Post (January 2007)
"It's Not Like Selling a New Suit," National Post (December 2006)
"Bend the Rules, Wreck Your Reputation," National Post (November 2006)
"Before Switching Dealerships, Examine Other Advisors' Books of Business," Advisor's Edge (November 2006)
"Rogue Clients and Some Red Flags," National Post (September 2006)
"Culture of Compliance," Advisor's Edge (July 2006)
"Arm Yourself Against Five Industry Myths," National Post (June 2006)
"Bad Behaviour," Advisor's Edge (May 2006)
"Bleaching Out Breach," Advisor's Edge (March 2006)
"Walking Papers," Advisor's Edge (January 2006)
"Staying Clear of Conflict," Advisor's Edge (May 2005)
"Do Not Go Quietly," Advisor's Edge (March 2005)
"When Trouble Walks In," Advisor's Edge (January 2005)
"Superior Signage," Advisor's Edge (December 2004)
"Limited Training Authorization," Advisor's Edge (November 2004)
"KYC In One Form or Another," Advisor's Edge (October 2004)
"Preserving Professionalism," Advisor's Edge (August 2004)
"Take Your Time," Advisor's Edge (June 2004)
"Advisor: Friend or Foe?," Advisor's Edge (April 2004)
"Preparing Your Defence: An Effective Paper Trail Follows the Five Cs," Advisor's Edge (March 2004)
"A Planner's Obligation," Advisor's Edge (January 2004)
"Reasonable Standard," Advisor's Edge (November 2003)
"Rebuilding Confidence," Advisor's Edge (September 2003)
"The Paper Trail," Advisor's Edge (August 2003)
"Credibility Victory," Advisor's Edge (May 2003)
"Red Flags," Advisor's Edge (April 2003)
"Will You be Believed by the Judge?," Advisor's Edge (February 2003)
"The Sky is the Limit," Advisor's Edge (October 2002)
"Complaint Evasion," Advisor's Edge (August 2002)
"Fearing the Unknown: Understanding the Stages of IDA Investigation May Help to Dispel Some of the Anxiety Associated with a Client Complaint," Advisor's Edge (July 2002)
"Why Advisors Should be Protected," Investment Executive (June 2002)
"The Golden Rule: Getting Beyond the KYC Form," Advisor's Edge (June 2002)
"IDA Leaves Brokers Confused, Uninformed," Investment Executive (November 2001)
"How Liable is the Broker," Investment Executive (July 2000)
"Preparing for Mediation: How to Maximize Gains and Settle What You Can," Canadian Arbitration and Mediation Journal (April 1998)