Toronto Office Managing Partner Mitch Frazer was quoted by Benefits Canada in an article about lessons the Canadian pension industry can learn from litigation involving US capital accumulation plans (CAP). Mitch compares the two markets and discusses the trends plan sponsors based in Canada should be aware of.

He also notes that the prevalence of legal action against US CAPs is often due to cultural and legislative differences, as well as the size of the plans, stating, “The US is obviously more litigious and US courts offer much larger awards; the biggest class actions we’ve ever had in Canada were surplus-related class actions. If there’s a big opportunity, you’re going to get people who are going to sue.”

Source

Benefits Canada