CIBC and Renaissance Mutual Funds

Alleged trailing commissions paid to discount brokers on CIBC and Renaissance mutual funds without corresponding investment advice.

The Ontario Superior Court of Justice approved a $26 million settlement resolving claims that trailing commissions were paid to discount brokers on CIBC and Renaissance mutual funds even though discount brokers do not provide investment advice. Eligible class members can file for a proportionate share of the net settlement amount, subject to a $25 minimum entitlement threshold.

• People anywhere in the world who held units of a CIBC Mutual Fund or Renaissance Mutual Fund through a discount broker from Sept. 18, 2003 to Jan. 25, 2024.
• Accounts held through discount brokers such as CIBC Investor's Edge, RBC Direct Investing, Scotia iTRADE, TD Direct Investing, Questrade, Wealthsimple, and similar platforms may qualify.
• You are not eligible if you are an excluded person or if you validly opted out of the class action.